Advanced Accounting Assignment

Get perfect grades by consistently using our writing services. Place your order and get a quality paper today. Take advantage of our current 20% discount by using the coupon code GET20

Order a Similar Paper Order a Different Paper

During January 2012, Wells, Inc. acquired 30%
of the outstanding common stock of Wilton
Co. for $1,400,000. This investment gave Wells the ability to exercise
significant influence over Wilton.
Wilton’s assets on that date were recorded at $6,400,000 with liabilities of $3,000,000. Any excess of cost over
book value of Wells’ investment was attributed
to unrecorded patents having a remaining useful life of ten years. In 2012, Wilton reported net income of $600,000. For
2013, Wilton reported net
of $750,000. Dividends of $200,000 were paid in each of these two years. What was
the reported balance of Wells’ Investment in Wilson Co. at December 31, 2013?





Got stuck with another paper? We can help! Use our paper writing service to score better grades and meet your deadlines.

Get 15% discount for your first order

Order a Similar Paper Order a Different Paper

Looking for this or a Similar Assignment? Click below to Place your Order Instantly!