Business, 04.08.2021 15:10 babbybronx

Parent Company owns 90% of ABC Company's 100,000 shares. Parent sells 50,000 ABC shares for $5 cash per share. The Noncontrolling Interest recorded on Parent's consolidated balance sheet just prior to this transaction was 85,000. The value of ABC's net assets recorded on Parent's consolidated balance sheet, updated for AAP amortization to the date of the stock issuance, was 401,000 before the stock issuance. The fair value of Parent's retained investment in ABC was 11,000. What is the amount of the gain or loss that must be recorded by Parent on the date of the sale of ABC stock

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Parent Company owns 90% of ABC Company's 100,000 shares. Parent sells 50,000 ABC shares for $5 cash...

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