Essay
Separate earnings and investment percentages for three affiliates for 2014 are as follows:
Assume the investments were acquired at a cost equal to the book value of each investment,which also equals the fair value.Separate earnings do not include investment income.
Required:
1.Calculate revised net incomes for Palace,Acres,and Bain by using the conventional method.
2.Determine the controlling interest share of consolidated net income and the noncontrolling interest shares.
Correct Answer:

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Requirement 1
Equations:
P=Income of I'...View Answer
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Correct Answer:
Verified
Equations:
P=Income of I'...
View Answer
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