P's separate earnings are $100,000, and S's separate earnings are $40,000. P owns an 80 percent interest

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P's separate earnings are $100,000, and S's separate earnings are $40,000. P owns an 80 percent interest in S, and S owns a 10 percent interest in P. What is the controlling share of consolidated net income?

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Advanced Accounting

ISBN: 978-0134472140

13th edition

Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith

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Question Posted: Feb 28, 2017 12:05 PM

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P's separate earnings are $100,000, and S's separate earnings are $40,000. P owns an 80 percent interest

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Advanced Accounting

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