On January 1,20X8,Package Company Acquired 80 Percent of Stamp Company's

question 12

Multiple Choice

On January 1,20X8,Package Company acquired 80 percent of Stamp Company's common stock for $280,000 cash.At that date,Stamp reported common stock outstanding of $200,000 and retained earnings of $100,000,and the fair value of the noncontrolling interest was $70,000.The book values and fair values of Stamp's assets and liabilities were equal,except for other intangible assets which had a fair value $50,000 greater than book value and an 8-year remaining life.Stamp reported the following data for 20X8 and 20X9:
Package reported net income of $100,000 and paid dividends of $30,000 for both the years.
-Based on the preceding information,what is the amount of consolidated comprehensive income reported for 20X8?

• A)$125,000
• B)$123,750
• C)$118,750
• D)$130,000

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Definitions:

Desacralized

The process of removing the sacred or holy status from an object, place, or concept, making it secular or non-religious.

Profane Objects

Items that are considered to be secular, non-religious, or not sacred, often in contrast to objects deemed as holy or spiritual.

Binary Opposition

A concept in structuralism that describes a pair of theoretical opposites or thematic contrasts fundamental to human thought and language.

Sacred

is described as something regarded with great respect and reverence, often associated with divinity or religious piety.