Essay
Hambly Corp. owned 80% of the voting common stock of Stroban Co. During 2021, Stroban sold a parcel of land to Hambly. The land had a book value of $82,000 and was sold to Hambly for $145,000. Stroban's reported net income for 2021 was $119,000.Required:Assuming there are no other intra-entity transactions nor excess amortizations, what was the net income attributable to the noncontrolling interest of Stroban?
Correct Answer:
Verified
Correct Answer:
Verified
Q1: Brooks Co. acquired 90% of Hill Inc.
Q3: Anderson Company, a 90% owned subsidiary of
Q4: On January 1, 2021, Pride, Inc. acquired
Q5: Prater Inc. owned 85% of the voting
Q6: Wilson owned equipment with an estimated life
Q7: Stiller Company, an 80% owned subsidiary of
Q8: Virginia Corp. owned all of the voting
Q9: Lewis Corp. acquired all of the voting
Q10: Yoderly Co., a wholly owned subsidiary of
Q11: Beesly Co. owned all of the voting