Maurice Tutor

(5)

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About Maurice Tutor

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Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 06 Nov 2017 My Price 5.00

Hardcore Mining Company

Sale of Subsidiary Shares

Hardcore Mining Company acquired 88 percent of the common stock of Mountain Trucking Company on January 1, 20X2, at a cost of $30 per share. On December 31, 20X7, when the book value of Mountain Trucking stock was $70 per share, Hardcore sold one-quarter of its investment in Mountain Trucking to Basic Manufacturing Company for $90 per share.

Required

What effect will the sale have on the 20X7 consolidated financial statements of Hardcore Mining if ( a ) Basic Manufacturing is an unrelated company or ( b ) Hardcore Mining holds 60 percent of Basic’s voting shares?

Answers

Maurice Tutor
(5)
Status NEW Posted 06 Nov 2017 09:11 PM My Price 5.00

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