Question
On January 1, 2014, Petunia Company purchased an 85% interest im the captial stock of sunflower Company for $3,400 (Cash + Shares of Petunia Company).
On January 1, 2014, Petunia Company purchased an 85% interest im the captial stock of sunflower Company for $3,400 (Cash + Shares of Petunia Company). Petunia Company uses the equity method to record its investment in Sunflower Company.
The plant is undervalued by 700 (7 year remaining life) and the equipment is overvalued by 200 (10 year remaining life) on January 1, 2014.
What is the net income attributable to the controlling interest for the year ended December 31, 2014?
What is the net income attributable to the non-controlling interest for the year ended December 31, 2014?
What is the amount of non-controlling interest for the year ended December 31, 2014?
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Principles Of Cost Accounting
Authors: Edward J. Vanderbeck
15th Edition
978-0840037039, 0840037031
