On December 31, 2020, the shareholders' equity of TQF Inc. consisted of the following: Preferred shares Ordinary
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On December 31, 2020, the shareholders' equity of TQF Inc. consisted of the following: Preferred shares Ordinary shares Retained earnings Total $ 200,000 400,000 600.000 $ 1,200,000 The preferred shares are non-cumulative and non-participating. The annual dividend on the preferred shares is 8%. There was one year dividend in arrears on December 31, 2020. On December 31, 2020, BLU Ltd. purchased 80% of the ordinary shares of TQF for $1,500,000. What was the acquisition discrepancy on the date of acquisition?
Related Book For
Intermediate Accounting Volume 2
ISBN: 9781119497042
12th Canadian Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
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