On January 1,20X0, Peace, Inc., acquired 70 percent of Silver's outstanding voting stock. No excess...
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On January X Peace, Inc., acquired percent of Silver's outstanding voting stock. No excess fairvalue amortization resulted from the acquisition: On January X Peace sold equipment to Silver for $ This asset originally cost $ but had a January X book value of $ At the time of transfer, the equipment's remaining life was estimated to be four years. Silver reported net income of $ for year XO Assume Peace applied equity method to account for this investment. Compute the amount of Equity in Silver Earnings Peace would record in its internal record for year X: $ $ $ $ 
On January X Peace, Inc., acquired percent of Silver's outstanding voting stock. No excess fairvalue amortization resulted from the acquisition:
On January X Peace sold equipment to Silver for $ This asset originally cost $ but had a January X book value of $ At the time of transfer, the equipment's remaining life was estimated to be four years. Silver reported net income of $ for year XO Assume Peace applied equity method to account for this investment. Compute the amount of Equity in Silver Earnings Peace would record in its internal record for year X:
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