Question
the income statements for the year ended 31/12/2011 of Paul and Shune are summarized below ( Paual owns 80% of Shune shares and the cost
the income statements for the year ended 31/12/2011 of Paul and Shune are summarized below
( Paual owns 80% of Shune shares and the cost = BV )
Paul Shune
Sales $600,000 $200,000
Income from shune 120,000
Expenses (250,000) ( 80,000)
Net Income $470,000 $150,000
The consolidated net income would equal
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Management And Cost Accounting
Authors: Alnoor Bhimani, Srikant M. Datar, Charles T. Horngren, Madhav V. Rajan
7th Edition
1292232668, 978-1292232669
