ulder, Inc., obtained 90 percent of Rock Corporation on January 1, 2019. Annual amortization of $ plicable on the allocations of Rock's acquisition-date business fair value. On January 1, 2020, Rock ac rcent of Stone Company's voting stock. Excess business fair-value amortization on this second a ounted to $10,600 per year. For 2021, each of the three companies reported the following in cumulated by its separate accounting system. Separate operating income figures do not include any inve ridend income. Separate Operating Income $324,300 Dividends Declared Boulder Rock Stone 112,300 176,000 $116,000 23,000 41,000 quired: What is consolidated net income for 2021? How is 2021 consolidated net income distributed to the controlling and noncontrolling interests? Amount Consolidated net income for 2021 Controlling interest in consolidated net income Noncontrolling interest in consolidated net income

ulder, Inc., obtained 90 percent of Rock Corporation on January 1, 2019. Annual amortization of $ plicable on the allocations of Rock's acquisition-date business fair value. On January 1, 2020, Rock ac rcent of Stone Company's voting stock. Excess business fair-value amortization on this second a ounted to $10,600 per year. For 2021, each of the three companies reported the following in cumulated by its separate accounting system. Separate operating income figures do not include any inve ridend income. Separate Operating Income $324,300 Dividends Declared Boulder Rock Stone 112,300 176,000 $116,000 23,000 41,000 quired: What is consolidated net income for 2021? How is 2021 consolidated net income distributed to the controlling and noncontrolling interests? Amount Consolidated net income for 2021 Controlling interest in consolidated net income Noncontrolling interest in consolidated net income

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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2.
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