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A wholly-owned subsidiary reports income of $600,000 and an other comprehensive loss of $50,000. The subsidiary's revalued net assets consist of indefinite life identifiable intangible
A wholly-owned subsidiary reports income of $600,000 and an other comprehensive loss of $50,000. The subsidiary's revalued net assets consist of indefinite life identifiable intangible assets, which are not impaired this year. The subsidiary declared dividends of $200,000 during the year. Eliminating entry (C) reduces Investment in Subsidiary by: Select one: O A. $600,000 O B. $450,000 O C. $400,000 D. $350,000
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