The following information applies to Questions 21-26
On December 31, 20X8, X Company acquired controlling ownership of Y Company. A consolidated balance sheet was prepared immediately. Partial balance sheet data for the two companies and the consolidated entity at that date follow:
During 20X8, X Company provided consulting services to Y Company and has not yet paid for them. There were no other receivables or payables between the companies at December 31, 20X8.
-Based on the information given,what percentage of Y Company's shares were acquired by X Company?
Definitions:
Verbal Skills
Abilities associated with understanding and expressing ideas through language.
Nonverbal Communication
The process of conveying a message without the use of words, involving gestures, facial expressions, and body language.
Mathematical Abilities
The capacity to perform mathematical calculations, understand mathematical principles, and solve mathematical problems.
Drug Use
The act of consuming substances which can modify perception, mood, consciousness, or behavior; may include legal, prescription, or illicit drugs.
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