Benartzi Company purchased a 90% interest in Liang Company on January 1 of the current year. Benartzi
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Benartzi Company purchased a 90% interest in Liang Company on January 1 of the current year. Benartzi Company had $600,000 net income for the current year before recognizing its share of Liang Company's net income. If Liang Company had net income of $150,000 for the year, what is the consolidated net income for the year? How would it be presented?
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Related Book For
Financial Accounting
ISBN: 9781618533111
6th Edition
Authors: Michelle L. Hanlon, Robert P. Magee, Glenn M. Pfeiffer, Thomas R. Dyckman
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