Business, 19.03.2020 08:25 kookycookiefanx

Angela, Inc., holds a 90 percent interest in Corby Company. During 2017, Corby sold inventory costing $77,000 to Angela for $110,000. Of this inventory, $40,000 worth was not sold to outsiders until 2018. During 2018, Corby sold inventory costing $72,000 to Angela for $120,000. A total of $50,000 of this inventory was not sold to outsiders until 2019. In 2018, Angela reported separate net income of $150,000 while Corby’s net income was $90,000 after excess amortizations.
What is the noncontrolling interest in the 2018 income of the subsidiary?

a) $8,000 b) $8,200 c) $9,000 d) $9,800

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Angela, Inc., holds a 90 percent interest in Corby Company. During 2017, Corby sold inventory costin...

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