Computing the noncontrolling interests equity balance Assume the following facts relating to an 80% owned subsidiary company: BOY stockholders' equity BOY AAP assets Net income of subsidiary (not including [A] asset depreciation and amortization) AAP assets depreciation and amortization expense Dividends declared and paid to noncontrolling shareholders $1,000,000 100,000 230,000 40,000 5,000 a. Compute the net income attributable to noncontrolling interests for the year. $ b. Compute the amount reported as noncontrolling equity at the end of the year.

Computing the noncontrolling interests equity balance Assume the following facts relating to an 80% owned subsidiary company: BOY stockholders' equity BOY AAP assets Net income of subsidiary (not including [A] asset depreciation and amortization) AAP assets depreciation and amortization expense Dividends declared and paid to noncontrolling shareholders $1,000,000 100,000 230,000 40,000 5,000 a. Compute the net income attributable to noncontrolling interests for the year. $ b. Compute the amount reported as noncontrolling equity at the end of the year.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

ChapterA2: Investments

Section: Chapter Questions

Problem 15MCQ

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Concept explainers

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.

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Computing the noncontrolling interests equity balance
Assume the following facts relating to an 80% owned subsidiary company:
BOY stockholders' equity
BOY AAP assets
Net income of subsidiary (not including [A] asset depreciation and amortization)
AAP assets depreciation and amortization expense
Dividends declared and paid to noncontrolling shareholders
$1,000,000
100,000
230,000
40,000
5,000
a. Compute the net income attributable to noncontrolling interests for the year.
b. Compute the amount reported as noncontrolling equity at the end of the year.

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Can you help me with part b?
Computing the noncontrolling interests equity balance Assume the following facts relating to an 90% owned subsidiary company: BOY stockholders’ equity $1,300,000 BOY AAP assets 169,000 Net income of subsidiary (not including [A] asset depreciation and amortization) 312,000 AAP assets depreciation and amortization expense 52,000 Dividends declared and paid by subsidiary 26,000 a. Compute the net income attributable to noncontrolling interests for the year. b. Compute the amount reported as noncontrolling equity at the end of the year.
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