Mathematics, 05.06.2021 01:00 1846252
Philly acquired 70% of Silly for $540,000 on January 1, 2019 when Subsidiary Retained Earnings $200,000 and Capital $400,000. Silly net income at Dec 2019 was $600,000 and Philly net income was $990,000. During the year Silly has sold land costing $320,000 to Philly for $360,000 cash. The non-controlling interest share on Silly's net income for 2019 would be:
Select one:
a. $192,000
b. $168,000
c. $180,000
d. $156,000
Answers: 2
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Philly acquired 70% of Silly for $540,000 on January 1, 2019 when Subsidiary Retained Earnings $200,...
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