Multiple−Choice Questions (Effective Interest Method)
On January 1, 20X4, Passive Heating Corporation paid $104,000 for $100,000 par
Passive reported operating income (excluding income from subsidiary) of $50,000, and Solar reported net income of $30,000 for 20X4.
Required
Select the correct answer for each of the following questions.
3. Income assigned to the noncontrolling interest in the 20X4 consolidated income statement should be
a. $6,534.
b. $8,321.
c. $8,388.
d. $16,826.
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Chapter 8 Solutions
ADVANCED FINANCIAL ACCOUNTING-ACCESS
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