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katen-ka-za [31]
2 years ago
7

Assume that Seiden Company gains control of Rimco, its subsidiary, with the purchase of a 40% interest paid in cash. The Equity

Investment account reports a balance of $75,000 on the acquisition date and represents a 30% interest in Rimco. The total value of Rimco on the acquisition date is $300,000 (assume no premium for control). The journal entry to record the acquisition includes:
a. Cash, credit, $300,000
b. Gain on revaluation of Rimco, credit, $15,000
c. Loss on revaluation of Rimco, debit, $15,000
d. None of the above
Business
1 answer:
Bingel [31]2 years ago
7 0

Answer:

the judge and jury duty and UN duty and correct and correct the spelling

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"Addison Corp. is considering the purchase of a new piece of equipment. The equipment will have an initial cost of $522,000, a 3
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$31,320.00

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