Effect on consolidated net income attributable to noncontrolling interest of affiliate's debt acquired from non-affiliate A Parent company owns 70 percent of its Subsidiary. During 2019, the Parent company reports net income (by itself, without any investment income from its Subsidiary) of $1,275,000 and the subsidiary reports net income of $595,000. The Subsidiary had a bond payable outstanding on January 1, 2019, with a carrying value equal to $935,000. The face amount of this bond is $850,000. The Parent acquired the bond on January 1, 2019 for $960,500. during 2019, the Parent reported interest income (related to the bond) of $93,500 while the Subsidiary reported interest expense (related to the bond) of $88,400. What is consolidated net income attributable to the noncontrolling interest for the year ended December 31, 2019? $178,500 $170,850 $205,020 $150,450

Effect on consolidated net income attributable to noncontrolling interest of affiliate's debt acquired from non-affiliate A Parent company owns 70 percent of its Subsidiary. During 2019, the Parent company reports net income (by itself, without any investment income from its Subsidiary) of $1,275,000 and the subsidiary reports net income of $595,000. The Subsidiary had a bond payable outstanding on January 1, 2019, with a carrying value equal to $935,000. The face amount of this bond is $850,000. The Parent acquired the bond on January 1, 2019 for $960,500. during 2019, the Parent reported interest income (related to the bond) of $93,500 while the Subsidiary reported interest expense (related to the bond) of $88,400. What is consolidated net income attributable to the noncontrolling interest for the year ended December 31, 2019? $178,500 $170,850 $205,020 $150,450

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter6: Corporations: Redemptions And Liquidations

Section: Chapter Questions

Problem 36CE

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