Compute NCl in income.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:On 1/1/2020, P acquired 80% of S. The implied value is 200000 JD and book value of equity is 120000 JD. The following table
shows differences between FV and BV:
Difference between
FV & BV
Inventory
20000
40000
Equipment (remaining life 5
years)
Company P net income is 50000 JD and Company S net income is 40000 JD. Compute NCI in income.
Select one:
Oa 2400
Ob 2800
Oc.3200
O d. 3600
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