On January 1, 2019, Nakhon Company acquired 80% of Pathom Company's common stock for $28,000 cash. At that date, Pathom reported common stock outstanding of 20,000 and retained earnings of 10,000 and the fair value of Pathom's assets and liabilities were equal, except for other intangible assets, which has a fair value 5,000 greater than book value and an 8- year remaining life. Pathom reported the following data for 2019 and 2020: Year Net Income Comprehensive Income Dividends Paid 2019 2,500 3,000 500 2020 3,500 4,500 1,000 Nakhon reported separate net income from own operations of 10,000 and paid dividends of 3,000 for both years. What is the amount of comprehensive attributable to the controlling interest in 2020?
On January 1, 2019, Nakhon Company acquired 80% of Pathom Company's common stock for $28,000 cash. At that date, Pathom reported common stock outstanding of 20,000 and retained earnings of 10,000 and the fair value of Pathom's assets and liabilities were equal, except for other intangible assets, which has a fair value 5,000 greater than book value and an 8- year remaining life. Pathom reported the following data for 2019 and 2020: Year Net Income Comprehensive Income Dividends Paid 2019 2,500 3,000 500 2020 3,500 4,500 1,000 Nakhon reported separate net income from own operations of 10,000 and paid dividends of 3,000 for both years. What is the amount of comprehensive attributable to the controlling interest in 2020?
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA2: Investments
Section: Chapter Questions
Problem 24E
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On January 1, 2019, Nakhon Company acquired 80% of Pathom Company's common stock for $28,000 cash. At that date, Pathom reported common stock outstanding of 20,000 and
| Year | Net Income | Comprehensive Income | Dividends Paid |
| 2019 | 2,500 | 3,000 | 500 |
| 2020 | 3,500 | 4,500 | 1,000 |
Nakhon reported separate net income from own operations of 10,000 and paid dividends of 3,000 for both years.
What is the amount of comprehensive attributable to the controlling interest in 2020?
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