Craft corp. acquired all of the common stock of pitts co. in 2019. pitts maintained its incorporation. The Craft account balance that would vary ... are Investment in Pitts Co., Equity in Subsidiary Earnings, and Retained Earnings.
This is further explained below.
<h3>What are
Retained Earnings.?</h3>
Generally, The cumulative net income of a company that is held by the corporation at a given moment in time, such as at the conclusion of the fiscal quarter, is referred to as the company's retained earnings. Retained earnings may be seen in a corporation's balance sheet.
In conclusion, The Craft account balance that would vary between the equity method and the initial value method are Investment in Pitts Co., Equity in Subsidiary Earnings, and Retained Earnings.
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