Question: At the end of the year the parent s investment account
At the end of the year, the parent's investment account had an equity method balance of $120,000. At this time, its 75%-owned subsidiary had shareholders' equity totaling $125,000. How much was the unamortized acquisition differential at the end of the year?
Relevant QuestionsBIO Company is a private company. It employs 30 engineers and scientists who are involved with research and development of various biomedical devices. All of the engineers and scientists are highly regarded and highly paid ...Gerry's Fabrics Ltd. (GFL), a private company, manufactures a variety of clothing for women and children and sells it to retailers across Canada. Until recently, the company has operated from the same plant since its ...On January 2, Year 1, Brady Ltd. purchased 80% of the outstanding shares of Partridge Ltd. for $4,120,000. Partridge's statement of financial position and the fair values of its identifiable assets and liabilities for that ...On July 1, Year 5, Big purchased 80% of the outstanding common shares of Little for $122,080. On that date, Little's equipment had a fair value that was $21,600 less than carrying amount. The equipment had accumulated ...Describe the difference in accounting under ASPE versus IFRSs for the elimination of unrealized profits in ending inventory on a downstream transaction between an investor and an associate.
Post your question