Homework Answers
Computation of Investment revenue of Germane inc. for year end December 31, 2021:
It was given that Garmane inc.holds 30% in Quality inc. So that Germane inc. have a significant influence over Quality inc. and the investment account should be maintained using the EQUITY METHOD.
Under Equity method,
Investment revenue of holding company
= Net income of the subisidary × Holding share in subsidary
Therefore,
Investment revenue of Germane Inc.
= Net income of Quality inc. × 30%
= $30 million × 30%
= $30,000,000 × 30%
= $9,000,000
= $9 million
-----×-----
Do vote, All the best,
HAPPY CHEGGING.
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common stock of Lake Construction Company for $260 million cash,
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