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On January 1 2011 Morey Inc exchanged 178000 for 25 percent of Amsterdam Corp. Morey appropriately applied the equity method to this investment.
On January 1 2011 Morey Inc exchanged 178000 for 25 percent of Amsterdam Corp. Morey appropriately applied the equity method to this investment. At January 1, the book values of Amsterdam’s assets and liabilities approximated their fair values.On June 20, 2011, Morey paid 560000 for an additional 70 percent of Amsterdam, thus increasing its overall ownership to 95 percent. The price paid for the 70 percent acquisition was proportionate to Amsterdam’s total fair value. At June 30, the carrying value of assets and liabilities approximated their fair value. Any remaining excess fair value was attributed to goodwill. Amsterdam report the following amount at Dec 31, 2011.Revenue
