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Fundamentals of Advanced Accounting 5th Edition by Joe Ben Hoyle,Thomas Schaefer,Timothy Doupnik
Edition 5ISBN: 978-1260575910Fundamentals of Advanced Accounting 5th Edition by Joe Ben Hoyle,Thomas Schaefer,Timothy Doupnik
Edition 5ISBN: 978-1260575910 Exercise 45
Jordan, Inc., owns Fey Corporation. For the current year, Jordan reports net income (without consideration of its investment in Fey) of $200,000 and the subsidiary reports $80,000.
The parent had a bond payable outstanding on January 1, with a book value of $212,000.
The subsidiary acquired the bond on that date for $199,000. During the current year, Jordan reported interest expense of $22,000 while Fey reported interest income of $21,000. What is consolidated net income
a. $266,000.
b. $268,000.
c. $292,000.
d. $294,000.
The parent had a bond payable outstanding on January 1, with a book value of $212,000.
The subsidiary acquired the bond on that date for $199,000. During the current year, Jordan reported interest expense of $22,000 while Fey reported interest income of $21,000. What is consolidated net income
a. $266,000.
b. $268,000.
c. $292,000.
d. $294,000.
Explanation
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Fundamentals of Advanced Accounting 5th Edition by Joe Ben Hoyle,Thomas Schaefer,Timothy Doupnik
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