Pop Corporation is the primary beneficiary in a VIE, even though Pop owns only 10 percent of

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Pop Corporation is the primary beneficiary in a VIE, even though Pop owns only 10 percent of the outstanding voting shares. In the year following the initial consolidation, the VIE earns net income of $2,000,000. Included in income is a fee paid by Pop for $160,000. What amount of noncontrolling interest share will appear in the consolidated income statement?
Consolidated Income Statement
When talking about the group financial statements the consolidated financial statements include Consolidated Income Statement that a parent must prepare among other sets of consolidated financial statements. Consolidated Income statement that is...
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Advanced Accounting

ISBN: 978-0134472140

13th edition

Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith

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