Question
On January 1, 2020, Chamberlain Corporation pays $668,800 for a 60 percent ownership in Neville. Annual excess fair-value amortization of $16,100 results from the acquisition.
On January 1, 2020, Chamberlain Corporation pays $668,800 for a 60 percent ownership in Neville. Annual excess fair-value amortization of $16,100 results from the acquisition. On December 31, 2021, Neville reports revenues of $482,000 and expenses of $304,000 and Chamberlain reports revenues of $790,000 and expenses of $472,000. The parent figures contain no income from the subsidiary. What is consolidated net income attributable to Chamberlain Corporation?
On January 1, 2020, Chamberlain Corporation pays $668,800 for a 60 percent ownership in Neville. Annual excess fair-value amortization of $16,100 results from the acquisition. On December 31, 2021, Neville reports revenues of $482,000 and expenses of $304,000 and Chamberlain reports revenues of $790,000 and expenses of $472,000. The parent figures contain no income from the subsidiary. What is consolidated net income attributable to Chamberlain Corporation? Multiple Choice $482,000. $431,240. O O $415,140. O $479,900Step by Step Solution
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Auditing and Assurance services an integrated approach
Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley
15th edition
978-0133125634, 9780133423815, 133125637, 133423816, 978-0133125689
