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Anvisha [2.4K]
3 years ago
13

At the start of the current year, SBC Corp. purchased 25% of Sky Tech Inc. for $47 million. At the time of purchase, the carryin

g value of Sky Tech's net assets was $80 million. The fair value of Sky Tech's depreciable assets was $12 million in excess of their book value. For this year, Sky Tech reported a net income of $80 million and declared and paid $12 million in dividends. The total amount of additional depreciation to be recognized by SBC over the remaining life of the assets is:
Business
1 answer:
cricket20 [7]3 years ago
5 0

Answer:

$3

Explanation:

SBC Corp

($million)

FV in excess of book value $12

×

Share of ownership 25%

Additional depreciation in total $3

Therefore the total amount of additional depreciation to be recognized by SBC over the remaining life of the assets is: $3

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