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Parent Company purchased 100 percent of Son Inc. on January 1, 20X2 for $420,000. Son reported earnings of $82,000 and declared dividends of $4,000 during 20X2. Based on the preceding information and assuming Parent uses the equity method to account for its investment in Son, what is the balance in Parent’s Investment in Son account on December 31, 20X2, prior to consolidation?

ULTA Beauty is offering a special $10 rebate to encourage purchase now as opposed to next month. Which stage in the consumer decision-making process is this rebate most targeting?

On January 3, 20X5, Pine Company acquired 75 percent of Sap Company’s outstanding common stock for cash. The fair value of the noncontrolling interest was equal to a proportionate share of the book value of Sap Company’s net assets at the date of acquisition. Selected balance sheet data at December 31, 20X5, are as follows:   Pine Sap Total Assets $ 504,000 $ 216,000 Liabilities 144,000 72,000 Common Stock 120,000 60,000 Retained Earnings 240,000 84,000 Total Liabilities & Stockholders’ Equity $ 504,000 $ 216,000 Based on the preceding information, what amount should be reported as noncontrolling interest in net assets in Pine Company’s December 31, 20X5, consolidated balance sheet?

What does a positive test for pupillary reaction indicate?

A primary benefit of consolidated financial statements is that they

Choose the sentence you hear in Korean.  

A business combination in which the acquired company’s assets and liabilities are combined with those of the acquiring company into a single entity is defined as:

Choose an incorrect sentence. (one sentence is putting an incorrect ending.)

The following Journal Entry Exemplifies the basic consolidation entry:

Company A owns 26% in Company B. Company C owns 12% in Company D. Which of the following statements are true? Company A will report ownership in Company B using the Equity Method Company C will report ownership in Company D using the Equity Method Company A will report ownership in Company B using the Fair Value Method Company C will report ownership in Company D using the Fair Value Method