ume the following facts relating to an 80% owned subsidiary company: BOY Stockholders’ Equity $1,000,000 BOY unamortized AAP 125,000 Net income of subsidiary (not including AAP amortization) 210,000 AAP amortization expense 40,000 Dividends declared and paid to noncontrolling shareholders 10,000 22. What is the net income attributable to noncontrolling interests for the year? a. $128,000 b. $136,000 c. $160,000 d. $168,000 23. What is the amount reported as noncontrolling equity at the end of the year?
ume the following facts relating to an 80% owned subsidiary company: BOY Stockholders’ Equity $1,000,000 BOY unamortized AAP 125,000 Net income of subsidiary (not including AAP amortization) 210,000 AAP amortization expense 40,000 Dividends declared and paid to noncontrolling shareholders 10,000 22. What is the net income attributable to noncontrolling interests for the year? a. $128,000 b. $136,000 c. $160,000 d. $168,000 23. What is the amount reported as noncontrolling equity at the end of the year?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following information pertains to the following 2 Questions.
Assume the following facts relating to an 80% owned subsidiary company:
|
BOY |
$1,000,000 |
|
BOY unamortized AAP |
125,000 |
|
Net income of subsidiary (not including AAP amortization) |
210,000 |
|
AAP amortization expense |
40,000 |
|
Dividends declared and paid to noncontrolling shareholders |
10,000 |
22. What is the net income attributable to noncontrolling interests for the year?
a. $128,000
b. $136,000
c. $160,000
d. $168,000
23. What is the amount reported as noncontrolling equity at the end of the year?
a. $895,200
b. $996,000
c. $1,026,000
d. $1,028,000
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