Benartzi Company purchased a 90% interest in Liang Company on January 1 of the current year and
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Benartzi Company purchased a 90\% interest in Liang Company on January 1 of the current year and the purchase price reflected \(90 \%\) of Liang's book value of equity. Benartzi Company had \(\$ 300,000\) net income for the current year before recognizing its share of Liang Company's net income. If Liang Company had net income of \(\$ 75,000\) for the year, what is the consolidated net income attributable to Benartzi shareholders for the year?
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Financial And Managerial Accounting For MBAs
ISBN: 9781618533593
6th Edition
Authors: Peter D. Easton
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