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 $ 38,000 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. $ 297,000 x
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 $ 38,000 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. $ 297,000 x
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
$ 38,000
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.
$ 297,000 x](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3cadaab7-0242-405d-ab75-d1a15c225b30%2F71f88267-12fa-4943-86d2-ffafbf3e43cb%2F4vlru3n_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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
$ 38,000
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.
$ 297,000 x
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