[SOLVED] Matthew , Inc . owns 30 percent of the outstanding stack of Lindman Company and has the ability to significantly influence the investee’s operations… – Accounting

by | Jul 12, 2022 | Accounting

Please Help me solve this.00000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000Matthew , Inc . owns 30 percent of the outstanding stack of Lindman Company and has theability to significantly influence the investee’s operations and decision making . On January 1 .2018, the balance in the Investment in Lindman account is $3 35 , 000 . Amortization associatedwith this acquisition is $9, 000 per year . In 2018 , Lindman earns an income of $50 , 000 anddeclares cash dividends of $30, 000 . Previously, in 2017 , Lindman had sold inventory costing$24, 000 to Matthew for $40, 000 . Matthew consumed all but 25 percent of this merchandiseduring 2017 and used the rest during 2018 . Lindman sold additional inventory costing $ 28, 000to Matthew for $50, 000 in 2018 . Matthew did not consume 40 percent of these 2018purchases from Lindman until 2015&. What amount of equity method income would Matthew recognize in 2018 from its ownershipinterest in Lindman ?6 . What is the equity method balance in the Investment in Lindman account at the end of2018 ?



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