On January 1,20X3 Poke Corporation acquired 25 percent of the outstanding shares of Shove Corporation...
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On January X Poke Corporation acquired percent of the outstanding shares of Shove Corporation for $ cash. Shove Company reported net income of $ and paid dividends of $ for both X and XThe fair value of shares held by Poke was $ and $ on December X and X respectively. a Based on the preceding information, what amount will be reported by Poke as income from its investment in Shove for X if it used the equity method of accounting? b Based on the preceding information, what amount will be reported by Poke as balance in investment in Shove on December X if it used the equity method of accounting? c If instead, Poke could not exercise significant influence over the investee, by what amount will Poke's X income increase due to its investment in Shove? d If instead, Poke could not exercise significant influence over the investee, by what amount will Poke's X income increase due to its investment in Shove?
On January X Poke Corporation acquired percent of the outstanding shares of Shove Corporation for $ cash. Shove Company reported net income of $ and paid dividends of $ for both X and XThe fair value of shares held by Poke was $ and $ on December X and X respectively.
a Based on the preceding information, what amount will be reported by Poke as income from its investment in Shove for X if it used the equity method of accounting?
b Based on the preceding information, what amount will be reported by Poke as balance in investment in Shove on December X if it used the equity method of accounting?
c If instead, Poke could not exercise significant influence over the investee, by what amount will Poke's X income increase due to its investment in Shove?
d If instead, Poke could not exercise significant influence over the investee, by what amount will Poke's X income increase due to its investment in Shove?
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