Trial balances for Phan Company and its subsidiary Sato Company on December 31, 2010, are as follows:

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Phan Company acquired its investment in Sato Company through open-market purchases of stock asfollows:

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Advanced Accounting

ISBN: 978-1118098615

5th Edition

Authors: Debra C. Jeter, Paul Chaney

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Question Posted: Mar 13, 2015 12:06 PM

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Trial balances for Phan Company and its subsidiary Sato Company on December 31, 2010, are as follows:

Question:

Sato Company Date Shares Purchased Cost Retained Earnings Balance 110,500 210,000 280,000 600,500 46,000 165,000 250,000 1/1/09 9,000 12,500 14,500 36,000 Total

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Worksheet multiple purchases equity method Control achieved on 112010 with the purchase of 12500 shares total shares owned equals 21500 5375 which includes 9000 shares acquired on 112009 and the 12500 ...View the full answer

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