Question
On January 1, 2016 Ringling acquired 100% of Trump. The transaction was not a bargain purchase. One the date of the acquisition, the fair value
On January 1, 2016 Ringling acquired 100% of Trump. The transaction was not a bargain purchase. One the date of the acquisition, the fair value of the Trump's Notes Receivable due 12/31/2020 was -67,249 and the book value was -73,623. For simplicity, discounts on Notes receivable are amortized on a straight-line basis.
What AAP adjustment must be made to the Interest Income account when preparing Ringling's income statement for 2018 ?
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Economics In Minutes 200 Key Concepts Explained In An Instant
Authors: Niall Kishtainy
1st Edition
1782066470, 9781782066477
