On January 1,2024, Ackerman sold equipment to Brannigan (a wholly owned subsidiary) for $350,000 in...
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On January Ackerman sold equipment to Brannigan a wholly owned subsidiary for $ in cash. The equipment had originally cost $ but had a book value of only $ when transferred. On that date, the equipment had a fiveyear remaining life. Depreciation expense is computed using the straightline method. Ackerman reported $ in net income in not including any investment income while Brannigan reported $ Ackerman attributed any excess acquisitiondate fair value to Brannigan's unpatented technology, which was amortized at a rate of $ per year. Required: What is consolidated net income for What is the parent's share of consolidated net income for if Ackerman owns only percent of Brannigan? What is the parent's share of consolidated net income for if Ackerman owns only percent of Brannigan and the equipment transfer was upstream? What is the consolidated net income for if Ackerman reports $does not include investment income and Brannigan $ in income? Assume that Brannigan is a wholly owned subsidiary and the equipment transfer was downstream.
On January Ackerman sold equipment to Brannigan a wholly owned subsidiary for $ in cash. The equipment had originally cost $ but had a book value of only $ when transferred. On that date, the equipment had a fiveyear remaining life. Depreciation expense is computed using the straightline method.
Ackerman reported $ in net income in not including any investment income while Brannigan reported $ Ackerman attributed any excess acquisitiondate fair value to Brannigan's unpatented technology, which was amortized at a rate of $ per year.
Required:
What is consolidated net income for
What is the parent's share of consolidated net income for if Ackerman owns only percent of Brannigan?
What is the parent's share of consolidated net income for if Ackerman owns only percent of Brannigan and the equipment transfer was upstream?
What is the consolidated net income for if Ackerman reports $does not include investment income and Brannigan $ in income? Assume that Brannigan is a wholly owned subsidiary and the equipment transfer was downstream.
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