The Net Incomes for Parent and Sub Inc for the year ended July 31, 2012 were $120,000 and $60,000 respectively. The Shareholders' Equity section of Parent's Consolidated Balance Sheet on the date of acquisition would total what amount under the Entity Method?
A) $140,000
B) $185,000
C) $244,000
D) $270,000

Question

The Net Incomes for Parent and Sub Inc for the year ended July 31, 2012 were $120,000 and $60,000 respectively. The Shareholders' Equity section of Parent's Consolidated Balance Sheet on the date of acquisition would total what amount under the Entity Method?
A) $140,000 
B) $185,000 
C) $244,000 
D) $270,000

Quizplus · Accepted Answer

The Answer of   The Net Incomes for Parent and Sub Inc for the year ended July 31, 2012 were $120,000 and $60,000 respectively. The Shareholders' Equity section of Parent's Consolidated Balance Sheet on the date of acquisition would total what amount under the Entity Method?
A) $140,000 
B) $185,000 
C) $244,000 
D) $270,000

The Net Incomes for Parent and Sub Inc for the Year