Business, 09.10.2019 00:20 PastelHibiscus

On january 1, 2018, race corp. acquired 80% of the voting common stock of gallow inc. during the year, race sold to gallow for $450,000 goods that cost $330,000. at year-end, gallow owned 15% of the goods transferred. gallow reported net income of $204,000, and race's net income was $806,000. race decided to use the equity method to account for this in

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On january 1, 2018, race corp. acquired 80% of the voting common stock of gallow inc. during the yea...

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