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What is the Investment in Beta Company balance

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Question - Alpha Company purchases 40% of Beta Company on January 1 for $5 00.000 that carry voting rights at a general meeting of shareholders of Beta Company. Alpha Company and Beta Company immediately agreed to share control {wherein unanimous consent is needed to all the parties involved} over Beta Company. Basket reports assets on that date of $1,400,000 with liabilities of $500,00 0. Cine building with a seven-year life is undervalued on Beta's books by $140,000. Also Basket's book value for its trademark {‘10 year remaining life) is undervalued by $210.00 0. During the year, Beta reports net income of $00,000, while paying dividends of $30,000. What is the Investment in Beta Company balance in Ace's financial records as of December 31?

Reference no: EM132587499

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