Angela, Incorporated, holds a 90 percent interest in Corby Company. During 2023, Corby sold inventory costing $105,750 to Angela for $141,000. Of this inventory, $48,600 worth was not sold to outsiders until 2024. During 2024, Corby sold inventory costing $96,850 to Angela for $149,000. A total of $51,400 of this inventory was not sold to outsiders until 2025. In 2024, Angela reported separate net income of $228,000 while Corby's net income was $100,500 after excess amortizations. What is the noncontrolling interest in the 2024 income of the subsidiary? Multiple Choice $10,050 $9,466 $10,330 $9,980

Angela, Incorporated, holds a 90 percent interest in Corby Company. During 2023, Corby sold inventory costing $105,750 to Angela for $141,000. Of this inventory, $48,600 worth was not sold to outsiders until 2024. During 2024, Corby sold inventory costing $96,850 to Angela for $149,000. A total of $51,400 of this inventory was not sold to outsiders until 2025. In 2024, Angela reported separate net income of $228,000 while Corby's net income was $100,500 after excess amortizations. What is the noncontrolling interest in the 2024 income of the subsidiary? Multiple Choice $10,050 $9,466 $10,330 $9,980

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Ff.55.
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