ACC 306 Week 1 DQ 1 Equity Method

Apr 28th, 2015
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ACC 306 Week 1 DQ 1 Equity Method

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P 1213 - Miller Properties - Equity method LO5 LO6On January 2, 2011, Miller Properties paid $19 million for 1 million shares of Marlon Companys 6 million outstanding common shares. Millers CEO became a member of Marlons board of directors during the first quarter of 2011.The carrying amount of Marlons net assets was $66 million. Miller estimated the fair value of those net as- sets to be the same except for a patent valued at $24 million above cost. The remaining amortization period for the patent is 10 years.Marlon reported earnings of $12 million and paid dividends

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