REFERENCE: Ref.03_06
Kaye Company acquired 100% of Fiore Company on January 1,2009.Kaye paid $1,000 excess consideration over book value which is being amortized at $20 per year.Fiore reported net income of $400 in 2009 and paid dividends of $100.
-Assume the initial value method is used.In the years subsequent to acquisition,what additional worksheet entry must be made for consolidation purposes that is not required for the equity method?
Definitions:
Hepatic Portal Vein
A blood vein that carries nutrients from the gastrointestinal tract and spleen to the liver for processing.
Capillaries
The smallest blood vessels in the body's circulatory system, where the exchange of water, oxygen, carbon dioxide, and many other nutrients and waste substances between blood and tissues occurs.
Hepatic Artery
The artery that supplies oxygenated blood to the liver from the heart.
Amylase
An enzyme that helps in breaking down carbohydrates into simpler sugars, mainly found in saliva and pancreatic fluid.
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