Able Company Owns an 80% Interest in Barns Company and a 20

question 6

Short Answer

Able Company owns an 80% interest in Barns Company and a 20% interest in Carns Company. Barns owns a 40% interest in Carns Company. The reported income of Carns is $20,000 for 20X4. Which of the following shows how it will be distributed?

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Definitions:

Cookware

Utensils and equipment used in the process of cooking or preparing food.

Genetic Testing Services

Health-related services that analyze genetic sequences to identify genetic disorders or traits.

23andMe

A personal genomics and biotechnology company that provides direct-to-consumer genetic testing services.

CVP

An acronym for Cost-Volume-Profit analysis, a financial tool used to determine how changes in costs and volume affect a company's operating income and net income.