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1. Stain Corporation is a subsidiary of Paint Corporation. In 2017 and 2018, Stain sold merchandise to Paint at a profit, with some of the profit remaining unsold at year-end. Consolidated net income for 2018 will be P310,720. 2. P Corporation acquired a 90% interest in S Company in 2016. In 2018, S sold a machine to P. Consolidated net income for 2018 is P310,400. 3. Subsidiary Company sold a truck to Parent Company in 2018, recording a gain. Depreciation expense will be credited in the consolidation en

Author

Din Rose Gonzales

Language

EN