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What are criteria to determine if primary beneficiary exists

Assignment Help Managerial Accounting
Reference no: EM133003990

Problem 1: Apple owns 80% of Pear, Apple had a bond payable outstanding on January 1, 2010 with a book value of $212,000. Pear purchases the bond in the open market for 199,000. How much is the Same facts with Pear reporting interest income of $22,000 and Apple reporting interest expense of $21,000. How much is consolidated income in 2010.( show calculations)

Problem 2: Which special purpose entities must be consolidated ?

Problem 3: Who is required to consolidate a variable interest entity?

Problem 4: What are the criteria to determine if a primary beneficiary exists?

Reference no: EM133003990

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