Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a parent sells land to its 80%-owned subsidiary at

A parent sells land to its 80%-owned subsidiary at a gain of $100,000. The following...

80.2K

Verified Solution

Question

Accounting

A parent sells land to its 80%-owned subsidiary at a gain of $100,000. The following year, the subsidiary sells the land to an outside entity for a gain of $10,000. How is the noncontrolling interest in net income affected in the year the subsidiary sells the land?

a. Increase of $20,000

b. Decrease of $22,000

c. Decrease of $2,000

d. No effect

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Accounting
1.2K views

please answer it in an hour I'll rate emergencythanksZoe Corporation has the following information...please...

Statistics
1.2K views

The design of an automotive gear requires the diameter to be 4 inches. To evaluate the...

Biology
1.2K views

Your response to the question should be long enough to address the question but limited to...

Medical Sciences
1.2K views

3. Lower Digestive Tract (C) Discuss the gallbladder and include one usual abnormal finding

Basic Math
1.2K views

M An urn contains 7 white and 9 black balls Five balls are randomly drawn...

Basic Math
1.2K views

A large tank is filled to capacity with 600 gallons of pure water Brine containing...

Calculus
1.2K views

5 Find the possible values of the complex number z given that z 8 6i...

Algebra
1.2K views

11 3 3n 3mm 5 Simplify 7 Simplify Your answer should contain only positive exponents...

Algebra
1.2K views

h x X 1 2 X 1 A x 1 OB x 1 x 1...

Accounting
1.2K views

Hay tres empleados en el departamento de contabilidad: empleado de nmina, empleado de cuentas por...

Accounting
1.2K views

PARTE A El 1 de enero del ao 5, Anderson Corporation pag $680 000...

Accounting
1.2K views

On June 1 of the current year, Monte Scott received a 10% interest in the...