Business, 26.11.2019 05:31 keyairareid7
Mckinley, inc., owns 100 percent of jackson company’s 45,000 voting shares. on june 30, mckinley’s internal accounting records show a $192,000 equity method adjusted balance for its investment in jackson. mckinley sells 15,000 of its jackson shares on the open market for $80,000 on june 30. how should mckinley record the excess of the sale proceeds over its carrying amount for the shares?
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Mckinley, inc., owns 100 percent of jackson company’s 45,000 voting shares. on june 30, mckinley’s i...
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