Falco owns 70% of teller. In 2021 teller sells inventory cost 77,000 to Falco for 110,000. Of this inventory 40,000 was not sold to third parties until 2022. During 2022 teller sells inventory cost 72,000 to Falco for 120,000. Of thos inventory, 50,000 was not sold to outsiders until 2023. In 2022 teller reports net income of 100,000. What is the noncontrolling interest in subsidiary net income in 2022.
Falco owns 70% of teller. In 2021 teller sells inventory cost 77,000 to Falco for 110,000. Of this inventory 40,000 was not sold to third parties until 2022. During 2022 teller sells inventory cost 72,000 to Falco for 120,000. Of thos inventory, 50,000 was not sold to outsiders until 2023. In 2022 teller reports net income of 100,000. What is the noncontrolling interest in subsidiary net income in 2022.
Chapter7: Losses—deductions And Limitations
Section: Chapter Questions
Problem 22P
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Falco owns 70% of teller. In 2021 teller sells inventory cost 77,000 to Falco for 110,000. Of this inventory 40,000 was not sold to third parties until 2022. During 2022 teller sells inventory cost 72,000 to Falco for 120,000. Of thos inventory, 50,000 was not sold to outsiders until 2023. In 2022 teller reports net income of 100,000. What is the noncontrolling interest in subsidiary net income in 2022.
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