Angela, Inc., holds a 90 percent interest in Corby Company. During 2020, Corby sold inventory...
80.2K
Verified Solution
Link Copied!
Question
Accounting
Angela, Inc., holds a 90 percent interest in Corby Company. During 2020, Corby sold inventory costing $105,750 to Angela for $141,000. Of this inventory, $48,600 worth was not sold to outsiders until 2021. During 2021, Corby sold inventory costing $96,850 to Angela for $149,000. A total of $51,400 of this inventory was not sold to outsiders until 2022. In 2021, Angela reported separate net income of $228,000 while Corby's net income was $100,500 after excess amortizations. What is the noncontrolling interest in the 2021 income of the subsidiary? Multiple Choice $10,050. e at. Iza $9,980 00 20 $10,330. DOC $9,466 BOC
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: Zin AI - Your personal assistant for all your inquiries!
