Question: In question 8 how would the parent record the sales
In question (8), how would the parent record the sales transaction?
Relevant QuestionsIn question (8), how would Duke account for the remainder of its investment subsequent to the sale of this partial interest?Amie, Inc., has 100,000 shares of $2 par value stock outstanding. Prairie Corporation acquired 30,000 of Amie’s shares on January 1, 2009, for $120,000 when Amie’s net assets had a total fair value of $350,000. On July ...On January 1, Park Corporation and Strand Corporation had condensed balance sheets as follows:On January 2, Park borrowed $60,000 and used the proceeds to obtain 80 percent of the outstanding common shares of Strand. The ...On January 1, 2009, Telconnect acquires 70 percent of Bandmor for $490,000 cash. The remaining 30 percent of Bandmor’s shares continued to trade at a total value of $210,000. The new subsidiary reported common stock of ...On January 1, 2010, Bretz, Inc., acquired 60 percent of the outstanding shares of Keane Company for $573,000 in cash. The price paid was proportionate to Keane’s total fair value although at the date of acquisition, Keane ...
Post your question