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Business, 09.12.2021 15:10 yoongnzl

Park Co. uses the equity method to account for its January 1, Year 1, purchase of Tun, Inc.'s common stock. On January 1, Year 1, the fair values of Tun’s FIFO inventory and land exceeded their carrying amounts. How do these excesses of fair values over carrying amounts affect Park's reported equity in Tun's Year 1 earnings?

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Park Co. uses the equity method to account for its January 1, Year 1, purchase of Tun, Inc.'s common...
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