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Company P purchases an 80% interest in Company S on January 1, 2011, for $480,000. Company S had equity of $450,000 on that date. Any
Company P purchases an 80% interest in Company S on January 1, 2011, for $480,000. Company S had equity of $450,000 on that date. Any excess of cost over book value was attributed to equipment with a 10-year life. On July 1, 2016, Company P Purchased another 10% interest for $160,000. Company S
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