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On January 1 , 2 0 2 1 , Flesh - n - Bone Corporation acquired 3 0 % of Doug Corporation's 2 0 0
On January FleshnBone Corporation acquired of Doug Corporation's outstanding
shares at P per share. Doug's net assets had a book value on the same date at P On the
acquisition date, the following assets were deemed understated:
Building having a remaining useful life of years was understated by
Equipment having a remaining life of years was understated by P Doug reported net income
for the year at P and paid cash dividends of P per share by December
How much investment income should be reported in FleshnBone Corporation's profit or loss for
a
b
c
d
What is the carrying amount of the investment in Doug as of December
a
b
c
d
The answer for number is Letter and for number is Letter
Please provide the solution for the two items showing the correct answers above.
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