Stevens owns 60% of David. In 2020 Stevens has net income of $80,000 and David has net income of $60,000. There is also $4,000 of annual excess amortization associated with David’s acquisition date equipment plus David had a $3,000 gain on intercompany sale of land to Stevens. Stevens had a $5,000 gain on an intercompany sale of land to David. How much is noncontrolling interest in subsidiary net income
Stevens owns 60% of David. In 2020 Stevens has net income of $80,000 and David has net income of $60,000. There is also $4,000 of annual excess amortization associated with David’s acquisition date equipment plus David had a $3,000 gain on intercompany sale of land to Stevens. Stevens had a $5,000 gain on an intercompany sale of land to David. How much is noncontrolling interest in subsidiary net income
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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15. Stevens owns 60% of David. In 2020 Stevens has net income of $80,000 and David has net income of $60,000. There is also $4,000 of annual excess amortization associated with David’s acquisition date equipment plus David had a $3,000 gain on intercompany sale of land to Stevens. Stevens had a $5,000 gain on an intercompany sale of land to David. How much is noncontrolling interest in subsidiary net income
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