Question
1.XXX, Inc., owns 35% of YYY Corporation. During the calendar year 2014, YYY Corporation had net earnings of $300,000 and paid dividends of $30,000. XXX,
1.XXX, Inc., owns 35% of YYY Corporation. During the calendar year 2014, YYY Corporation had net earnings of $300,000 and paid dividends of $30,000. XXX, Inc. mistakenly recorded these transactions using the fair value method rather than the equity method of accounting.
Show both Fair Value and Equity in T account format
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Implementing And Auditing The Internal Control System
Authors: D. Chorafas
2001edition
0333929365, 978-0333929360
