Question 26 Not yet answered Marked out of 1.50 Flag question A corporation using the cost method of accounting for its investment in a 80% owned investee, which earned $20,000 and paid $5,000 in dividends What is the ending balance of investment on 31/12 if investment in 1/1 amount 120,000$? Select one: a. 100,000 b. 115,000 c. 120,000 d. 112,000 Question 25 Not yet answered Marked out of 1.50 Flag question On 1/1/ 2019, J Co acquired 75% of M Co outstanding common stock for cash. The fair value of the noncontrolling interest was equal to a proportionate share of the book value of M Co net assets, at the acquisition date the balance sheet data are as follows:- M M J 504,000 total assets 108,000 liabilities 144,000 36,000 common stock 120,000 30,000 retained earning 240,000 42,000 Based on the preceding information, what amount should be reported as noncontrolling interest in net assets in 1/1/2019 consolidated balance sheet? Select one: a. 45,000 b. 27,000 c. 18,000 d. 9,000