X Corporation owns 80% of the voting common shares of Y Corporation. Non-controlling interest was assigned $24,000 of income in the 2009 consolidated income statement. What amount of net income from Y did X Corporation report for the year? Select one: a. 150,000 b. 130,000 c. 120,000 d. 96,000
X Corporation owns 80% of the voting common shares of Y Corporation. Non-controlling interest was assigned $24,000 of income in the 2009 consolidated income statement. What amount of net income from Y did X Corporation report for the year? Select one: a. 150,000 b. 130,000 c. 120,000 d. 96,000
Chapter11: The Corporate Income Tax
Section: Chapter Questions
Problem 6MCQ
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X Corporation owns 80% of the voting common shares of Y Corporation. Non-controlling interest was assigned $24,000 of income in the 2009 consolidated income statement. What amount of net income from Y did X Corporation report for the year?
Select one:
a. 150,000
b. 130,000
c. 120,000
d. 96,000
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