Compute the Noncontrolling Interest in Demers at December 31, 2020

question 70

Multiple Choice

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

• A) $124,000.
• B) $126,000.
• C) $109,200.
• D) $149,600.
• E) $ 148,200.

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Definitions:

Fixed Asset Turnover Ratio

A financial metric that measures how efficiently a company uses its fixed assets to generate sales, calculated as sales divided by the average net fixed assets.

Book Value

The net value of a company's assets found on its balance sheet, and is calculated by subtracting liabilities from the total value of assets.

Trade-In Allowance

The amount credited to a customer for the trade-in of a used item towards the purchase of a new item.

Book Value

The net value of an asset reported in the financial statements, calculated as the original cost minus any depreciation, amortization, or impairment costs.