Business, 19.09.2019 04:00 hartzpeyton136

Milani, inc., acquired 10 percent of seida corporation on january 1, 2017, for $199,000 and appropriately accounted for the investment using the fair-value method. on january 1, 2018, milani purchased an additional 30 percent of seida for $655,000 which resulted in significant influence over seida. on that date, the fair value of seida's common stock was $1,980,000 in total. seida's january 1, 2018 book value equaled $1,830,000, although land was undervalued by $130,000. any additional excess fair value over seida's book value was attributable to a trademark with an 8-year remaining life. during 2018, seida reported income of $282,000 and declared and paid dividends of $119,000. prepare the 2018 journal entries for milani related to its investment in seida.

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Milani, inc., acquired 10 percent of seida corporation on january 1, 2017, for $199,000 and appropri...

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