Carnes Codecided to Use the Partial Equity Method to Account for for Its

question 48

Essay

Carnes Co.decided to use the partial equity method to account for its investment in Domino Corp.An unamortized trademark associated with the acquisition was $30,000,and Carnes decided to amortize the trademark over ten years.For 2009,Carnes' Equity in Subsidiary Earnings was $78,000.
Required:
What balance would have been in the Equity in Subsidiary Earnings account if Carnes had used equity accounting?

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Definitions:

Cholesterol

A substance with a waxy, fatty consistency that is present in every cell of the body, essential for creating cell membranes, various hormones, and vitamin D.

Nucleic Acid

Polymer of nucleotides, consisting of DNA and RNA, forms a family of substances that comprise the genetic material of cells and control protein synthesis.

Steroid

A type of organic molecule characterized by a specific structure of four linked carbon rings, including hormones and certain vitamins.

Organic Groups

Collections of organic compounds categorized based on shared structural features or functional groups.