Assume the following facts relating to an 80% owned subsidiary company: BOY...
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Accounting
Assume the following facts relating to an 80% owned subsidiary company:
| BOY stockholders equity | $1,200,000 |
| BOY AAP assets | 100,000 |
| Net income of subsidiary (not including [A] asset depreciation and amortization) | 250,000 |
| AAP assets depreciation and amortization expense | 40,000 |
| Dividends declared and paid to noncontrolling shareholders | 5,000 |
a. Compute the net income attributable to noncontrolling interests for the year.
$Answer
b. Compute the amount reported as noncontrolling equity at the end of the year.
$Answer
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