Assume that Charlie Company owns 100% of Brown Corporation. Brown reports Stockholders Equity of $400,000....

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Accounting

Assume that Charlie Company owns 100% of Brown Corporation. Brown reports Stockholders Equity of $400,000. The Equity investment was acquired at book value (i.e., no AAP). Brown sells a 20% interest to outsiders for $120,000.
The entry made by Charlie as a result of the sale of stock by Brown includes:
Select one:
A.
APIC credit, $ 16,000
B.
APIC credit, $120,000
C.
APIC credit, $496,000
D.
APIC credit, $416,000

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