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:

Relevance

A characteristic of financial information that is capable of making a difference in the decisions made by users by being timely and pertinent to their needs.

Accounting Information

Data related to the financial position and performance of an entity that is useful to users in making economic decisions.

Timeliness

The quality of being done at the appropriate or advantageous time, particularly in the context of information being available when it is needed.

Verifiability

An accounting principle that ensures all information reported is backed by evidence and can be confirmed by independent observers.