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In: AccountingAccounting . Can you please assist meMarble Inc acquired 25% of New Metal Enterprise for...Accounting . Can you please assist meMarble Inc acquired 25% of New Metal Enterprise for $2,000,000on January 1,2013 The fair value and book value of 25% of New Metal Enterprise netassets were $2,000,000 and $1,600,000 respectively on that date and the difference wasattributable to undervalue plant assets that would depreciate over 10 years. During 2013 New Metal Enterprise reported net income of $ 800,000and paid dividends of $400,000 New Metal Enterprise had a total fair value of $10,00,000 as ofDecember 31,2013 Marble on acquisition elected to use the Fair Value method toaccount for this investment Required : 1) Prepare the journal entry to record the acquisiton of thisinvestment on January 1 ( 3 pts) 2) Prepare the journal entry or entries for rest of the yearincluding and any end of year (9 pts) 3) On Marble s balance Sheet at December 31, 2013, the investmentaccount will have what balance ? (6 pts) 4) On Marble s Income statement for year ended December31, 2013what will be reported on the Income Statement ( FS item and amount ) (6pts) 5) If Marble had used the equity method the investment accountbalance at December 31,2013 amount ? (6 pts)