Question
P Co bought 100% of S Co common stock at its book value of $200,000 on1/1 2020. During 2020,S CO reported net income of $65,000
P Co bought 100% of S Co common stock at its book value of $200,000 on1/1 2020. During 2020,S CO reported net income of $65,000 and paid dividends of $20,000.At what amount should P's Income from S be reported on 31/12/2020 by using equity method?
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Financial Accounting
Authors: Thomas Dyckman, Robert Magee, Glenn Pfeiffer
3rd Edition
1934319600, 978-1934319604
