Question
P Inc. purchased 81% of the voting shares of S Inc for $696,143 cash on January 1, year 2. P recorded Investment in S at
P Inc. purchased 81% of the voting shares of S Inc for $696,143 cash on January 1, year 2. P recorded Investment in S at cost.
The Balance Sheet of P Inc. & S Inc. for year 5 showed the following balances
P Inc. S Inc.
Investment $696,143 $90,653
What is the amount for Investment on Consolidated Balance Sheet of P Inc. for year5?
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Financial & Managerial Accounting
Authors: Carl S. Warren
10th Edition
0324663811, 9780324663815
