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Question 7 Not yet answered Marked out of 100 P Flag question P Co owns...

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Question 7 Not yet answered Marked out of 100 P Flag question P Co owns a 80% interest in S Co, acquired several years ago at a cost equal to book value and fair value. S sells merchandise to P for loss the first ume in 2019, and some is unsold at December 31, 2019. In computing income from subsidiary for 2019 under the equity method, Puses which equation? Select one: a. 80% of S income plus 80% of the unrealized loss in Pending inventory b. 80% of S income plus 100% of the unrealized loss in P ending inventory c. 80% of S income less 80% of the unrealized loss in P ending inventory O d. 80% of S income less 100% of the unrealized loss in P ending inventory Question 8 Nor yet answered Marked out of 1 00 Flag question Acquisition occurs when one corporation takes over all the operations of another business entity, and that entity is dissolved Select one: True O False

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