On January 1, 2023, Chamberlain Corporation pays $546,400 for a 60 percent ownership in Neville....
90.2K
Verified Solution
Link Copied!
Question
Accounting
On January 1, 2023, Chamberlain Corporation pays $546,400 for a 60 percent ownership in Neville. Annual excess fair-value amortization of $17,100 results from the acquisition. On December 31, 2024, Neville reports revenues of $488,000 and expenses of $344,000 and Chamberlain reports revenues of $798,000 and expenses of $477,000. The parent figures contain no income from the subsidiary. What is consolidated net income attributable to Chamberlain Corporation? Multiple Choice O $397,140 $488,000 $447,900 $414,240
On January 1, 2023, Chamberlain Corporation pays $546,400 for a 60 percent ownership in Neville. Annual excess fair-value amortization of $17,100 results from the acquisition. On December 31,2024 , Neville reports revenues of $488,000 and expenses of $344,000 and Chamberlain reports revenues of $798,000 and expenses of $477,000. The parent figures contain no income from the subsidiary. What is consolidated net income attributable to Chamberiain Corporation? Multiple Choice $397,140 $488,000 $447,900 $414,240
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
