On January 1,20X8,Package Company Acquired 80 Percent of Stamp Company's

question 17

Multiple Choice

On January 1,20X8,Package Company acquired 80 percent of Stamp Company's common stock for $280,000 cash.At that date,Stamp reported common stock outstanding of $200,000 and retained earnings of $100,000,and the fair value of the noncontrolling interest was $70,000.The book values and fair values of Stamp's assets and liabilities were equal,except for other intangible assets which had a fair value $50,000 greater than book value and an 8-year remaining life.Stamp reported the following data for 20X8 and 20X9:
Package reported net income of $100,000 and paid dividends of $30,000 for both the years.
-Based on the preceding information,what is the amount of comprehensive income attributable to the controlling interest for 20X9?

• A)$138,750
• B)$131,000
• C)$128,750
• D)$135,000

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Definitions:

Anxiety

A feeling of fear, dread, and unease, often as a reaction to stress, where it can affect daily function when excessive.

Medication Effective

The extent to which a drug achieves its intended result in the clinical treatment of a condition or disease.

Mindfulness

Mindfulness is the practice of being present and fully engaged in the current moment without judgment, often used as a technique in stress reduction and mental well-being.

Anxiety

A mental health disorder characterized by excessive fear or worry, which can interfere with daily activities.