Solution-What is the amount of consolidated net income on

What is the amount of consolidated net income on Dec

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Problem - On Jan 1, 20X1, Ouyang Inc paid $1,000,000 to acquire 70% of Huang Inc. They have the following information on that date (years of remaining useful life: equipment 5; trademarks: 10; Patents: 4):

	Ouyang Inc	Huang Inc	FV of Huang Inc
Current assets	$300,000	$400,000	$400,000
Equipment	250,000	200,000	280,000
Trademarks	320,000	240,000	290,000
Patents	150,000	180,000	140,000
Liabilities	340,000	200,000	200,000
Revenues	450,000	350,000
Expenses	180,000	190,000

Required - What is the amount of consolidated net income on Dec 31, 20X1?

Reference no: EM132850086

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What is the amount of consolidated net income on Dec

Reference no: EM132850086

Reference no: EM132850086

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