Solution-What would noncontrolling interest in subsidiary

What would noncontrolling interest in subsidiary net income

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Question 1: In 2019 a 90% owned subsidiary had $60,000 of unrealized gains on intercompany sales to its parent. In 2020 the subsidiary sold $200,000 of goods to its parent and had $30,000 of unrealized gains. In 2020 parent reports Cost of Goods Sold of $4,000,000 and sub reports Cost of Goods Sold of $1,000,000. If in 2020 the subsidiary had net income of $150,000, what would be the noncontrolling interest in subsidiary net income

Reference no: EM132725552

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What would noncontrolling interest in subsidiary net income

Reference no: EM132725552

Reference no: EM132725552

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