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I have a quick question I’m hoping someone can help me with.
When accounting under the equity method, if a entity purchases an investment in the middle of the year do they report the income of the investment for the entire year or only for the portion in which they’ve owned it? For example, if an entity owns 30% which they purchased July 1st, and the investment reported income of $100,000. Would they report income of $30,000 (100,000 x 30%) or $15,000 ( 6/12 x 100,000 x 30%) ?? Thanks!!
FAR - 87 (7/14/11)
AUD - 94 (8/31/11)
REG - 92 (10/19/11)
BEC - 88 (11/30/11)
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