Business
Business, 13.04.2021 02:30, davidaagurto

A Parent Company owns 100 percent of its Subsidiary. During 2018, the Parent company reports net income (by itself, without any investment income from its Subsidiary) of $650,000 and the subsidiary reports net income of $260,000. The parent had a bond payable outstanding on January 1, 2018, with a carrying value equal to $546,000. The Subsidiary acquired the bond on January 1, 2018 for $513,500. During 2018, the Parent reported interest expense (related to the bond) of $45,500, while the Subsidiary reported interest income (related to the bond) of $41,600. What is consolidated net income for the year ended December 31, 2018

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A Parent Company owns 100 percent of its Subsidiary. During 2018, the Parent company reports net inc...

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