When a parent company uses the Equity Method to account for an 80% owned subsidiary, write a brief description for each of the following items:

a.List the specific items that are entered into the balance sheet account titled: NoncontrollingInterest-Equity that takes the account from its beginning balance to the ending balance.

1)What is the specific location on the balance sheet of Noncontrolling Interest-Equity anddoes the account normally have a debit or credit balance?

b.List the specific items that are entered into the income statement account titled: NoncontrollingInterest-Income Statement.

1)What is the specific location on the income statement of Noncontrolling Interest-Income Statement and does the account normally have a debit or credit balance?

c.Explain the reason that the subsidiarys income statement does not equal the net income of thesubsidiary on the consolidating worksheet.