Using the data presented in BE12-6, assume that Rook Corporation reports under ASPE and has chosen..

Using the data presented in BE12-6, assume that Rook Corporation reports under ASPE and has chosen..

Using the data presented in BE12-6, assume that Rook Corporation reports under ASPE and has chosen to account for its investment in Hook Ltd. using the cost model because the shares do not trade in an active market. Record each of the transactions and any necessary adjusting journal entries under this assumption. How much revenue would be reported by Rook in this situation? Explain why this differs from your answer in BE12-6.1

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