Charisa Company (Charisa) acquired an 85% interest in Donna Limited (Donna) several years ago when the retained earnings of Deanna were $880,000. The book value of Donna's net asapproximated their fair value,During 2021, Donna sold inventories for $84,000 to Charisa at a 50% markup on cost. The transfer price of intercompany inventories remaining in ending inventories is summarized below2021 (S)Inventories from Intercompany Sales in Ending Inventory of Charisa21,000In 2021, Donna reported net income of $107,000 and declared dividends of $47,000. Charisa reported net income of $268,000. Calculate theconsolidated net income attributable to Parent's shareholders for the year ended December 31, 2021.Oa $312,000Ob.$353,000O C. $313,050Od.$295,200O 0. $351,950Of. None of the above

Consolidated net income is the difference between the consolidated revenue amount and the…

In 2021, Donna reported net income of $107,000 and declared dividends of $47,000. Charisa reported net income of $268,000. Calculate the consolidated net income attributable to Parent's shareholders for the year ended December 31, 2021.

In 2021, Donna reported net income of $107,000 and declared dividends of $47,000. Charisa reported net income of $268,000. Calculate the consolidated net income attributable to Parent's shareholders for the year ended December 31, 2021.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 18E

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