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18. Aaron owns 100 percent of the 12,000 shares of Veritable, Inc. The Investment in Veritable account has a balance of $588,000, corresponding to the
18. Aaron owns 100 percent of the 12,000 shares of Veritable, Inc. The Investment in Veritable account has a balance of $588,000, corresponding to the subsidiary's unamortized acquisition-date fair value of $49 per share. Veritable issues 3,000 new shares to the public for $50 per share. How does this transaction affect the Investment in Veritable account? a. It is not affected because the shares were sold to outside parties. It should be increased by $2,400
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