Question: On January 1 , 2 0 2 0 , Parent acquired a 7 0 % interest in Sub for a purchase price that was $

On January 1,2020, Parent acquired a 70% interest in Sub for a purchase price that was $240,000 over the book value of the Subs Stockholders Equity on the acquisition date. Parent uses the equity method to account for its investment in Sub. Parent assigned the acquisition-date AAP as follows:

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