Question
Dim Gray Corporation holds 90% of the common stock of Spring Green Corporation. Spring Green's net income is $100,000. How will the noncontrolling interest of
Dim Gray Corporation holds 90% of the common stock of Spring Green Corporation. Spring Green's net income is $100,000. How will the noncontrolling interest of $10,000 be reported in the consolidated financial statements?\ \ Multiple choice question.\ \ It is added to the total consolidated net income in the consolidated income statement.\ \ \ It will be reported on the consolidated balance sheet.\ \ \ It will be reported on the consolidated cash flow statement.\ \ \ It will be subtracted from the total consolidated net income in the consolidated income statement.
Dim Gray Corporation holds 90% of the common stock of Spring Green Corporation. Spring Green's net income is $100,000. How will the noncontrolling interest of $10,000 be reported in the consolidated financial statements?\ \ Multiple choice question.\ \ It is added to the total consolidated net income in the consolidated income statement.\ \ \ It will be reported on the consolidated balance sheet.\ \ \ It will be reported on the consolidated cash flow statement.\ \ \ It will be subtracted from the total consolidated net income in the consolidated income statement.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started