Provided are the consolidated trial balances of a parent and its less-than-wholly-owned subsidiary. Account Dr (Cr) $5,000 105,000 10,000 80,000 Current assets Property, net Intangible assets, net Goodwill Liabilities Capital stock Retained earnings, beginning Accumulated other comprehensive income, beginning Noncontrolling interest Dividends Sales revenue Cost of sales and operating expenses Other comprehensive income Noncontrolling interest in net income Noncontrolling interest in other comprehensive income Total (162,405) (10,000) (15,000) (200) (2,500) 1,000 (400,000) 390,000 (1,000) 100 5 $0
Provided are the consolidated trial balances of a parent and its less-than-wholly-owned subsidiary. Account Dr (Cr) $5,000 105,000 10,000 80,000 Current assets Property, net Intangible assets, net Goodwill Liabilities Capital stock Retained earnings, beginning Accumulated other comprehensive income, beginning Noncontrolling interest Dividends Sales revenue Cost of sales and operating expenses Other comprehensive income Noncontrolling interest in net income Noncontrolling interest in other comprehensive income Total (162,405) (10,000) (15,000) (200) (2,500) 1,000 (400,000) 390,000 (1,000) 100 5 $0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Provided are the consolidated trial balances of a parent and its less-than-wholly-owned subsidiary.
Account
Dr (Cr)
Current assets
Property, net
Intangible assets, net
Goodwill
Liabilities
Capital stock
Retained earnings, beginning
Accumulated other comprehensive income, beginning
Noncontrolling interest
Dividends
Sales revenue
Cost of sales and operating expenses
Other comprehensive income
Noncontrolling interest in net income
Noncontrolling interest in other comprehensive income
Total
$5,000
105,000
10,000
80,000
(162,405)
(10,000)
(15,000)
(200)
(2,500)
1,000
(400,000)
390,000
(1,000)
100
5
$0
Transcribed Image Text:On the consolidated statement of income and comprehensive income, consolidated net income for the year is:
Select one:
O
O
a. $11,105
b. $11,000
c. $10,000
d. $10,895
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