Parrot Corporation Acquired a 70% Interest in Swifti Corp

question 15

Multiple Choice

Parrot Corporation acquired a 70% interest in Swifti Corp.on January 1,2013,when Swifti's book values and fair values were equivalent.On January 1,2014,Swifti sold a building with a book value of $60,000 to Parrot for $80,000.The building had a remaining life of five years,no salvage value,and was depreciated by the straight-line method.Swifti reported net income of $200,000 for 2014.What was the noncontrolling interest share for 2014?

• A)$54,000
• B)$55,200
• C)$60,000
• D)$128,800

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