Gardner Corp

question 6

Multiple Choice

Gardner Corp. owns 80% of the voting common stock of Lockhart Co. Lockhart owns 70% of Canning Co. Gardner and Lockhart both use the initial value method to account for their investments. The following information is available from the financial statements and records of the three companies: Separate company net income includes intra-entity gains before the consolidating deferral but does not include dividend income from investment in subsidiary.For Gardner Corp. and consolidated subsidiaries, what total amount would be reported for the net income attributable to the noncontrolling interest?

• A) $141,700.
• B) $152,200.
• C) $120,700.
• D) $202,050.
• E) $212,550.

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Definitions:

Real Objects

In psychoanalytic theory, refers to tangible, physical objects as opposed to imagined or conceptual ones.

Reasoning

The method of using reason and logic to examine something to make a decision or verdict.

Dynamic Systems

Dynamic systems are systems characterized by constant change, activity, or progress, where interactions and relationships within the system can lead to varying outcomes over time.

Conceptual Development

The process through which individuals learn to conceptualize their world, understanding abstract ideas, categories, and symbolic representations.