Multiple Choice
Pomograte Corporation bought 75% of Sycamore Company's common stock,with a book value of $900,000,on January 2,2011 for $750,000.The law firm of Dewey,Cheatam and Howe was paid $55,000 to facilitate the purchase.At what amount should Pomograte's Investment in Sycamore account be reported on January 2,2011?
A) $675,000
B) $695,000
C) $750,000
D) $845,000
Correct Answer:
Verified
Correct Answer:
Verified
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