Problem

Hardwood, Inc., holds a 90 percent interest in Pittstoni Company. During 2010, Pittstoni s...

Hardwood, Inc., holds a 90 percent interest in Pittstoni Company. During 2010, Pittstoni sold inventory costing $77,000 to Hardwood for $110,000. Of this inventory, $40,000 worth was not sold to outsiders until 2011. During 2011, Pittstoni sold inventory costing $72,000 to Hardwood for $120,000. A total of $50,000 of this inventory was not sold to outsiders until 2012. In 2011, Hardwood reported net income of $150,000 while Pittstoni earned $90,000 after excess amortizations. What is the noncontrolling interest in the 2011 income of the subsidiary?

a. $8,000.


b. $8,200.


c. $9,000.


d. $9,800.

Step-by-Step Solution

Request Professional Solution

Request Solution!

We need at least 10 more requests to produce the solution.

0 / 10 have requested this problem solution

The more requests, the faster the answer.

Request! (Login Required)


All students who have requested the solution will be notified once they are available.
Add your Solution
Textbook Solutions and Answers Search