Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

- con 16 on 1/1/2019 x CO acquired 80% of Y common stock for $150,000 in the same day the y net assets was $

image text in transcribed
- con 16 on 1/1/2019 x CO acquired 80% of Y common stock for $150,000 in the same day the y net assets was $ 140,000 in the same date the fair value of assets and liabilities were equal .year ended 31/12/2019 y reported income $50,000, declared dividend $30,000 , X using equity methods what is non controlling interest in net income balance on 31/12/2019 red ed out of og question Select one: a: 10,000 D. b. 4,000 C. 41,500 d. 37.500

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Quality Management System A Planning And Auditing Guide

Authors: Walter Willborn

1st Edition

083113013X, 978-0831130138

More Books

Students also viewed these Accounting questions

Question

Does it use a maximum of two typefaces or fonts?

Answered: 1 week ago