Question
On January 1, 2020, Chamberlain Corporation pays $481,600 for a 60 percent ownership in Neville. Annual excess fair-value amortization of $24,700 results from the
On January 1, 2020, Chamberlain Corporation pays $481,600 for a 60 percent ownership in Neville. Annual excess fair-value amortization of $24,700 results from the acquisition. On December 31, 2021, Neville reports revenues of $512,000 and expenses of $386,000 and Chamberlain reports revenues of $754,000 and expenses of $430,000. The parent figures contain no income from the subsidiary. What is consolidated net income attributable to Chamberlain Corporation? Multiple Choice $409,480. $384,780) $512,000 $425,300
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