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Faja owns 85% of Child Inc. In the last year, Child sold inventory costing $500,000 to Faja for $600,000. At year-end, Faja had 1/3 of
Faja owns 85% of Child Inc. In the last year, Child sold inventory costing $500,000 to Faja for $600,000. At year-end, Faja had 1/3 of this inventory remaining. How much will the parent adjust it's investment income from Child at year-end? How much will the NCI income need to be adjusted?
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Advanced Accounting
Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith
11th Edition
978-0132568968, 9780132568968
