need help with a discussion question.
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A parent company acquired an 80% interest in a subsidiary on July 1, 2015. The subsidiary
closed its books on that date. The subsidiary reported a net income of $60,000 for 2015, earned
evenly during the year. The parent net income, exclusive of any income of the subsidiary, was
$140,000. The fair value of the subsidiary exceeded the book value by $100,000.The entire
difference was attributed to a patent with a 10-year life.
Using the above information, determine the net income to be allocated to the parent and
the net income to the subsidiary.
Your initial post should be thorough and should address the discussion question in 350 words
in APA style and demonstrate accurate spelling and punctuation.
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