question archive Duke Corporation owns a 70 percent equity interest in Salem Company, a subsidiary corporation
Duke Corporation owns a 70 percent equity interest in Salem Company, a subsidiary corporation
Subject:AccountingPrice: Bought3
Duke Corporation owns a 70 percent equity interest in Salem Company, a subsidiary corporation. During the current year, a portion of this stock is sold to an outside party. Before recording this transaction, Duke adjusts the book value of its investment account. What is the purpose of this adjustment? How would the parent company record this transaction?
