Compute the Noncontrolling Interest in the Net Income of Demers

question 20

Multiple Choice

Compute the noncontrolling interest in the net income of Demers at December 31, 2020.

• A) $18,400.
• B) $14,000.
• C) $22,600.
• D) $24,000.
• E) $12,600.

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Definitions:

Maturity Value

The total amount that will be paid to an investor at the maturity date of a financial instrument, including principal and interest.

Bank Discount

The difference between the face value of a banknote or security and its selling price, before it reaches its maturity.

Discount Period

The time frame within which a buyer can pay less than the full amount due by taking advantage of a discount offered by the seller.

Discounted Note

A promissory note that is sold or redeemed for less than its face value before its maturity date.