Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 25 Jun 2018 My Price 5.00

post acquisition subsidiary

How do I find the post acquisition subsidiary net income?

 

Company x acquired 60% of company Y on april 1, 2011 for 200,000. Equipment owned by Y was overvalued by 55,000 with a 4 year remaining life. Y earned income evenly during the year, but declared the $20,000 dividend on November 1, 2011.

 

Company X company Y

Sales (500,000) (285,000)

Cost of goods sold 320,000 120,0000

expenses 25,000 35,0000

dividend income 10,000 0

net income 145,000 130,000

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Maurice Tutor
(5)
Status NEW Posted 25 Jun 2018 10:06 PM My Price 5.00

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