On January 3, 20X9, Jane Company Acquired 75 Percent of Miller

question 33

Multiple Choice

On January 3, 20X9, Jane Company acquired 75 percent of Miller Company's outstanding common stock for cash. The fair value of the noncontrolling interest was equal to a proportionate share of the book value of Miller Company's net assets at the date of acquisition. Selected balance sheet data at December 31, 20X9, are as follows:

-Based on the preceding information,what amount should be reported as noncontrolling interest in net assets in Jane Company's December 31,20X9,consolidated balance sheet?

• A) $90,000
• B) $54,000
• C) $36,000
• D) $0

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Definitions:

Closed-class Societies

Societies characterized by strict social stratification and limited mobility, where individuals' roles and statuses are often predefined.

Age Set

A social group system in which people within a specific age group are categorized together for performing rituals and have similar responsibilities.

Age Grade

A social category or class based on age, within which individuals pass as they grow older, marking different stages of life and responsibilities.

Social Mobility

The movement of individuals, families, or groups through a system of social hierarchy or stratification, typically reflecting changes in socioeconomic status.