The stockholders equities of Huanh Corporation and its 90 percent-owned subsidiary, Ngon Corporation, on December 31, 2016,
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Question:
The stockholders’ equities of Huanh Corporation and its 90 percent-owned subsidiary, Ngon Corporation, on December 31, 2016, are as follows (in thousands):
On January 1, 2017, Ngon issued previously unissued common stock of 100,000 shares directly to Huanh for $24 per share. The book value of Ngon’s net assets book is equal to fair value at the transaction date, except for land undervalued by $10,000.
Related Book For
Advanced Accounting
ISBN: 978-0134472140
13th edition
Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith
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