Problem

Angela, Inc., holds a 90 percent interest in Corby Company. During 2014, Corby sold inve...

Angela, Inc., holds a 90 percent interest in Corby Company. During 2014, Corby sold inventory costing $77,000 to Angela for $110,000. Of this inventory, $40,000 worth was not sold to outsiders until 2015. During 2015, Corby sold inventory costing $72,000 to Angela for $120,000. A total of $50,000 of this inventory was not sold to outsiders until 2016. In 2015, Angela reported net income of $150,000 while Corby earned $90,000 after excess amortizations. What is the noncontrolling interest in the 2015 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