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crimeas [40]
3 years ago
7

The summarized balance sheets of Goebel Company and Dobbs Company as of December 31, 2014 are as follows:

Business
1 answer:
alexgriva [62]3 years ago
7 0

Answer:

$175,000

Explanation:

Based on the information given we were told that in a situation where Goebel Company tend to acquired an interest of 20 percent in Dobbs Company on December 31, 2014 for the amount of $175,000 in which we were told that the fair value method of accounting were used for the Investment which means that the amount of DEBIT TO EQUITY INVESTMENT (Dobbs) would have been $175,000 which was the amount that was used by Goebel Company to acquired an interest of 20 percent in Dobbs Company on December 31,2014.

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3 years ago
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