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Raleigh Corp. has an investment with a carrying value

Intermediate Accounting | 15th Edition | ISBN: 9781118147290 | Authors: Donald E. Kieso ISBN: 9781118147290 164

Solution for problem 20 Chapter 17

Intermediate Accounting | 15th Edition

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Intermediate Accounting | 15th Edition | ISBN: 9781118147290 | Authors: Donald E. Kieso

Intermediate Accounting | 15th Edition

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Problem 20

Raleigh Corp. has an investment with a carrying value (equity method) on its books of $170,000 representing a 30% interest in Borg Company, which suffered a $620,000 loss this year. How should Raleigh Corp. handle its proportionate share of Borgs loss?

Step-by-Step Solution:
Step 1 of 3

Samantha Heslin 3-3 1. 14*9=126 338+126 $464.00 2. 464/40 $11.60 3-9 Raw Materials 210,000 Accounts Payable 210,000 Work in Process 190,000 Manufacturing Overhead 178,000 Raw Materials 12,000 Work in Process 90,000 Manufacturing Overhead 110,000 Depreciation Expense 40,000 Accumulated Depreciation 40,000 Accounts Payable 70,000 Manufacturing Overhead 70,000 Work in Process 240,000 Manufacturing Overhead 240,000 Finished Goods 520,000 Work in Process 520,000 Cost of Goods Sold 48,000 Finished Goods 48,000

Step 2 of 3

Chapter 17, Problem 20 is Solved
Step 3 of 3

Textbook: Intermediate Accounting
Edition: 15
Author: Donald E. Kieso
ISBN: 9781118147290

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Raleigh Corp. has an investment with a carrying value