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On Jan 1, 2013 the Sub issues $550,000 in 6% 8 year Bonds at 103%, interest payable Dec 31. On June 30, 2017, the Parent acquires the Sub’s bonds for $498,500. The Sub is 65% owned by the parent.
Required:
Record the elimination entries for Dec 31, 2017 and 2018
What is the impact on the Sub’s Net Income for 2017?
What is the impact on the Sub’s Income for 2018?
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prepare a flexible budgetpuget sound divers is a company that provides diving services such as underwater ship repairs
Field Corporation produces and sells two products. In the most recent month, Product C66G had sales of $20,000 and variable expenses of $7,200. Product U11T had sales of $19,000, and variable expenses of $8,400
In the last HW assignment, Mr.Speakers had issued bonds (borrowed money) in order to expand production capabilities by purchasing new equipment and a production facility. BRIEFLY describe how the asset and liability sections of Mr.Speakers’ balance s..
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