1.Stevens owns 60% of David. In 2020 Stevens has net income of $80,000 and David has net income of $60,000. There is also $4,000 of annual excess amortization associated with David’s acquisition date equipment plus David had a $3,000 gain on intercompany sale of land to Stevens. Stevens had a $5,000 gain on an intercompany sale of land to David. How much is noncontrolling interest in subsidiary net income 2.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. How much is Consolidated Cost of Goods Sold.
1.Stevens owns 60% of David. In 2020 Stevens has net income of $80,000 and David has net income of $60,000. There is also $4,000 of annual excess amortization associated with David’s acquisition date equipment plus David had a $3,000 gain on intercompany sale of land to Stevens. Stevens had a $5,000 gain on an intercompany sale of land to David. How much is noncontrolling interest in subsidiary net income
2.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. How much is Consolidated Cost of Goods Sold.
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