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Parker Owned All of Odom Inc

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Parker owned all of Odom Inc.Although the Investment in Odom Inc.account had a balance of $834,000,the subsidiary's 12,000 shares had an underlying book value of only $56 per share.On January 1,2010,Odom issued 3,000 new shares to the public for $70 per share.How does this transaction affect the Investment in Odom Inc.account?


Definitions:

Chronic Factitious Disorder

A psychological disorder wherein a person repeatedly acts as if they have an illness by deliberately producing, feigning, or exaggerating symptoms.

Altered Moods

Refers to changes in emotional state that can vary in intensity and duration.

Antisocial Personality Disorder

A mental disorder characterized by a long-term pattern of disregard for, or violation of, the rights of others.

Psychopath

An individual with a personality disorder characterized by persistent antisocial behavior, impaired empathy, and remorse, often leading to criminal acts.

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