Hamandeggs Company Owns a 60% Interest in Hormel Company

question 60

Multiple Choice

Hamandeggs Company owns a 60% interest in Hormel Company.The consolidated balance sheet of Hamandeggs Company, prepared at the beginning of the year, showed a minority interest of $30.The net income of Hamandeggs Company and Hormel Company were $80 and $10, respectively.The ending balance in the Minority Interest account is _____.

• A)$30
• B)$34
• C)$36
• D)$40

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