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Definition from ASC 805-10-55-3A
A business is an integrated set of activities and assets that is capable of being conducted and managed for the purpose of providing a return in the form of dividends, lower costs, or other economic benefits directly to investors or other owners, members, or participants.
Excerpt from ASC 810-10-40-5
A parent shall account for the deconsolidation of a subsidiary or derecognition of a group of assets specified in paragraph 810-10-40-3A by recognizing a gain or loss in net income attributable to the parent, measured as the difference between:
Dr. Net assets of business acquired
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$200 million
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Cr. Investment in Newco
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$150 million
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Cr. Gain on previously held equity interest
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$ 25 million
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Cr. Gain on sale of business to Company B
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$ 25 million
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