On January 1, 2021, Doyle Corp

question 91

Multiple Choice

On January 1, 2021, Doyle Corp. acquired 75% of the voting common stock of Bressant Inc. During the year, Doyle sold to Bressant for $510,000 goods that cost $380,000. At year-end, Bressant owned 20% of the goods transferred. Bressant reported net income of $215,000, and Doyle's net income was $902,000. Doyle decided to use the equity method to account for this investment. Assuming there are no excess amortizations associated with the consolidation, and no other intra-entity asset transfers, what was the net income attributable to the noncontrolling interest?

• A) $27,750.
• B) $43,000.
• C) $47,250.
• D) $53,750.
• E) $60,250.

---

Definitions:

Range B1:B20

A reference in spreadsheet applications denoting a column of cells extending from row 1 to 20 in the 'B' column.

Counta

A function in Excel that counts the number of cells in a range that are not empty.

Title Style

Formatting applied to titles in documents, presentations, or web pages to distinguish them from other text.

Data Series

In charting or graphical representations, a set of related data points or values that are plotted or represented.