Answered step by step
Verified Expert Solution
Question
1 Approved Answer
on 13 P co paid $140,000 for a 70% interest in s co on 1/1/2019, when s had Capital Stock of $50,000 and Retained Earnings
on 13 P co paid $140,000 for a 70% interest in s co on 1/1/2019, when s had Capital Stock of $50,000 and Retained Earnings of $100.000. Fair values of net assets were the same as recorded book values. During 2019, S had income of $40,000, declared dividends of $15,000, and paid $10.000. On 31/12/ 2019, the consolidated financial statements will show investment in Sco amount, if using equity method? on Select one: a. 150.000 Obo O c. 165.000 d. 140.000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started