Jardon Jewelers purchased 3,000,000 of the outstanding 10,000,000 shares of Angel & Associates. At the...
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Accounting
Jardon Jewelers purchased 3,000,000 of the outstanding 10,000,000 shares of Angel & Associates. At the time of the acquisition, the book value of Angel's net assets equals their fair market value. Angel declared Net Income of $2,250,000 for the year. How will Angel's Net Income be recorded by Jardon?
Cash
2,250,000
Investment in Angel & Associates
2,250,000
Investment in Angel & Associates
675,000
Income from Investment
675,000
Investment in Angel & Associates
2,250,000
Income from Investment
2,250,000
Cash
675,000
Income from Investment
675,000
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