Assume that a Shearer Company owns 100% of Skeran Corporation. Skeran reports a Stockholders' Equity of $250,000. The Equity investment was acquired at book value (i.e., no [A] assets). Skeran sells a 10% interest to outsiders for $75,000. The entry made by Shearer as a result of the sale of stock by Skeran includes:

What is the APIC credit amount?

Answer rating: 100% (QA)

When Skeran sells a 10 interest to outsiders for 75000 the ownership percentage of She... View the full answer