On January 1,2020, Alison, Inc., paid $62,500 for a 40 percent interest in Holister Corporation's...
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Accounting
On January Alison, Inc., paid $ for a percent interest in Holister Corporation's common stock. This investee had assets with a book value of $ and liabilities of $ A patent held by Holister having a $ book value was actually worth $ This patent had a sixyear remaining life. Any further excess cost associated with this acquisition was attributed to goodwill. During Holister earned income of $ and declared and paid dividends of $ In it had income of $ and dividends of $ During the fair value of Allison's investment in Holister had risen from $ to $ a Assuming Alison uses the equity method, what balance should appear in the Investment in Holister account as of December b Assuming Alison uses fairvalue accounting, what income from the investment in Holister should be reported for a Investment in Holister b Investment income 
On January Alison, Inc., paid $ for a percent interest in Holister Corporation's common stock. This investee had
assets with a book value of $ and liabilities of $ A patent held by Holister having a $ book value was actually
worth $ This patent had a sixyear remaining life. Any further excess cost associated with this acquisition was attributed to
goodwill. During Holister earned income of $ and declared and paid dividends of $ In it had income of
$ and dividends of $ During the fair value of Allison's investment in Holister had risen from $ to $
a Assuming Alison uses the equity method, what balance should appear in the Investment in Holister account as of December
b Assuming Alison uses fairvalue accounting, what income from the investment in Holister should be reported for
a Investment in Holister
b Investment income
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