Business
Business, 17.12.2019 06:31, dsean1273

Primer company acquired an 80% interest in sealcoat company on january 1, 2013, for $450,000 cash when sealcoat company had common stock of $250,000 and retained earnings of $250,000. all excess was attributable to plant assets with a 10-year life.
sealcoat company made $50,000 in 2013 and paid no dividends. primer company's separate income in 2013 was $625,000. the controlling interest in consolidated net income for 2013 is:

a. $675,000.

b. $665,000.

c. $660,000.

d. $625,000.

answer
Answers: 2

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Primer company acquired an 80% interest in sealcoat company on january 1, 2013, for $450,000 cash wh...

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