Create an Account

Already have account?

Forgot Your Password ?

Home / Questions / Dane Inc owns Carlton Corporation For the current year Dane reports net income without con...

Dane Inc owns Carlton Corporation For the current year Dane reports net income without consideration of its investment in Carlton of $185000 and the subsidiary reports $105000 The parent had

Dane, Inc., owns Carlton Corporation. For the current year, Dane reports net income (without consideration of its investment in Carlton) of $185,000 and the subsidiary reports $105,000. The parent had a bond payable outstanding on January 1, with a book value of $209,000. The subsidiary acquired the bond on that date for $196,000. During the current year, Dane reported interest expense of $18,000 while Carlton reported interest income of $19,000, both related to the intra-entity bond payable. What is consolidated net income?

Jul 21 2020 View more View Less

Answer (Solved)

question Subscribe To Get Solution

Related Questions