Noncontrolling interest share of thelma net income

Reference no: EM13130218

Norek Corp. owned 70% of the voting common stock of Thelma Co. On January 2, 2006, Thelma sold a parcel of land to Norek. The land had a book value of $32,000 and was sold to Norek for $45,000. Thelma's reported net income for 2006 was $119,000. What is the noncontrolling interest's share of Thelma's net income?

a) $35,700

b) $31,800

c) $39,600

d) $26,100

Reference no: EM13130218

Questions Cloud

Illustrate what is the division margin : average operating assets of $3,000,000. The company's minimum required rate of return is 10%. Illustrate what is the division's margin?

Find required sample size if confidence level is given : Pilot sample of 30 items indicates a sample standard deviation of 900. Determine the required sample size if the confidence level is 90%.

What other criteria impact the decision : What are some obstacles to discerning a precise hurdle rate at Big Red Trucking, or in your business or industry? In what ways might you Red Trucking, or in your business or industry?

Description of assets : Which asset would the risk-averse financial manger prefer?

Noncontrolling interest share of thelma net income : Thelma's reported net income for 2006 was $119,000. What is the noncontrolling interest's share of Thelma's net income?

Draw the three-dimensional structural formula : Draw the 3-dimensional structural formula for ® 2 -iodopentane. Use the wedge and dashed line convention. Complete the table below based on whar you know about enantiomers.

What cultural factors must u.s. sports franchises overcome : Describes, explains, addresses, and answers the following questions or statements. What cultural factors must U.S. sports franchises overcome to increase popularity abroad? Why?

How do you learn to read and write? : How do you learn to read and write?

The case of abortion : the intent to terminate the pregnancy and rid the body of the embryo is clear. In the forced c-section cases, which you will read for this activity, the motivation for refusing a C-Section is not nearly as obvious and typically centers around the ..

User Account

All Pages