Use the Following Information to Answer the Question(s) Below

question 30

Multiple Choice

Use the following information to answer the question(s) below.

Poe Corporation owns an 80% interest in Seri Company acquired at book value several years ago. On January 2, 2013, Seri purchased $100,000 par of Poe's outstanding 10% bonds for $103,000. The bonds were issued at par and mature on January 1, 2016. Straight-line amortization is used. Separate incomes of Poe and Seri for 2013 are $350,000 and $120,000, respectively. Poe uses the equity method to account for the investment in Seri.

-Noncontrolling interest share for 2013 was

• A)$23,000.
• B)$23,600.
• C)$24,000.
• D)$24,400.

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Definitions:

Party Unity

The degree to which members of a political party share common goals and demonstrate a collective stance on legislative and policy issues.

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The bicameral legislature of the federal government of the United States, consisting of two houses: the Senate and the House of Representatives, responsible for creating federal legislation.

1980s

The decade from 1980 to 1989, characterized by significant political, cultural, and technological changes, including the end of the Cold War.