P Corporation paid $140,000 for a 70% interest in S Inc. on January 1, 2014, when S had Capital Stock of $50,000 and Retained Earnings of $100,000. Fair values of net assets were the same as recorded book values. During 2014, S had income of $40,000, declared dividends of $15,000, and paid $10,000 On December 31, 2014, the consolidated financial statements on 1/1/2014 will Show investment in S, inc amount? Select one: a. 140,000 b. 165,000 C. 150,000 d. 0

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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University-Kadoerie
ly courses
20202
الفرع الرئيسي
الاعمال والاقتصاد
انظمة معلومات محاسبية
المحاسبة المتُقدمة نظري - طولكرم
الامتحان
المحاسبة المتقدمة نظر=
P Corporation paid $140,000 for a 70% interest in S Inc. on January 1, 2014, when S had Capital
Stock of $50,000 and Retained Earnings of $100,000. Fair values of net assets were the same as
recorded book values. During 2014, S had income of $40,000, declared dividends of $15,000, and
paid $10,000 On December 31, 2014, the consolidated financial statements on 1/1/2014 will
Show investment in S, inc amount?
Select one:
a. 140,000
b. 165,000
C. 150,000
d. 0
Previous page
Next page
arch
Transcribed Image Text:University-Kadoerie ly courses 20202 الفرع الرئيسي الاعمال والاقتصاد انظمة معلومات محاسبية المحاسبة المتُقدمة نظري - طولكرم الامتحان المحاسبة المتقدمة نظر= P Corporation paid $140,000 for a 70% interest in S Inc. on January 1, 2014, when S had Capital Stock of $50,000 and Retained Earnings of $100,000. Fair values of net assets were the same as recorded book values. During 2014, S had income of $40,000, declared dividends of $15,000, and paid $10,000 On December 31, 2014, the consolidated financial statements on 1/1/2014 will Show investment in S, inc amount? Select one: a. 140,000 b. 165,000 C. 150,000 d. 0 Previous page Next page arch
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