On 1/1/2020, P acquired 80% of S. The implied value is 200000 JD and book value of equity is 120000 JD. The following tableshows differences between FV and BV:Difference betweenFV & BVInventory2000040000Equipment (remaining life 5years)Company P net income is 50000 JD and Company S net income is 40000 JD. Compute NCI in income.Select one:Oa 2400Ob 2800Oc.3200O d. 3600

NCI- The non-controlling interest can be defined as the interest income of the acquired or the…

Answered: Compute NCl in income.

Business

Accounting

Compute NCl in income.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter13: Investments And Long-term Receivables

Section: Chapter Questions

Problem 8MC

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