The following bond-related accounts are from the separate accounting records of the two companies at 12/31/20X8. (Two
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Question:
The following bond-related accounts are from the separate accounting records of the two companies at 12/31/20X8. (Two years have passed since A purchased the bonds of B.)
A:
$143,000 DR Investment in bonds of B
$ 7,300 CR Interest revenue
B:
$ 150,000 CR Bond payable
$ 9,500 DR Interest expense
A's separate net income in 20X8 (excluding equity in income of B) is $82,000
B's separate net income in 20X8 is $59,000
Required
1) What is consolidated net income for 20X8?
2) What is consolidated net income attributable to the NCI for 20X8?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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