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Unformatted text preview: on to account for this investment. Runyan received dividends of $2.00 per share on December 15, 2013, and
Lavery reported net income of $160 million for the year ended December 31, 2013. The market value of Lavery's common stock at December 31, 2013, was $31 per share. On the purchase date, the book value of
a. The fair value of Lavery's depreciable assets, with an average remaining useful life of six years, exceeded their book value by $80 million.
Lavery's net assets was $800 million and:
b. The remainder of the excess of the cost of the investment over the book value of net assets purchased was attr...
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This note was uploaded on 03/03/2013 for the course ACC 321 taught by Professor Bukowy during the Spring '10 term at UNC Pembroke.
- Spring '10