Rob Company purchases a 90% interest in Venus Company for $418,500 on January 1, 2013. Any excess
Question:
On December 31, 2016, Rob Company sells 8,000 shares of Venus Company for $700,000. The following stockholders€™ equity balances of Venus Company are available:
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Venus Company earns $70,000 during 2016. Prepare a determination and distribution of excess schedule. Record the sale of the shares of Venus Company and any other adjustments needed to the investment account.
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Determination and Distribution of Excess Schedule Company Parent NCI Implied Price Value Fair Value ...View the full answer
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Related Book For 
Advanced Accounting
ISBN: 978-0538480284
11th edition
Authors: Paul M. Fischer, William J. Tayler, Rita H. Cheng
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