Determine the investment revenue by the equity method, Financial Accounting

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Determine the investment revenue by the equity method

Response to the following problem:

The fair value of depreciable assets of Penner Packaging Company exceeds their book value by $12 million. The assets' average remaining useful life is 10 years. They are being depreciated by the straight-line method. Finest Foods Industries buys 40% of Penner's common shares. When adjusting investment revenue and the investment by the equity method, how will the situation described affect those two accounts?

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Financial Accounting: Determine the investment revenue by the equity method

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