Question
STUInc.acquireda20%stakeinVWXLtdfor$200,000onJanuary1st,2023.VWXLtd reportednetincomeof$50,000fortheyearendedDecember31st,2023.CalculateSTU Inc.'s share of income from its investment in VWX Ltd for the year.
STU Inc. acquired a 20% stake in VWX Ltd for $200,000 on January 1st, 2023. VWX Ltd reported net income of $50,000 for the year ended December 31st, 2023. Calculate STU Inc.'s share of income from its investment in VWX Ltd for the year.
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Survey of Accounting
Authors: Thomas Edmonds, Christopher Edmonds, Philip Olds, Frances McNair, Bor Yi Tsay
5th edition
1259631125, 978-1259631122
