REFERENCE: Ref.06_14 Thomas Inc.had the Following Stockholders' Equity Accounts as of January

question 6

Essay

REFERENCE: Ref.06_14
Thomas Inc.had the following stockholders' equity accounts as of January 1,2009: Kuried Co.acquired all of the voting common stock of Thomas on January 1,2009,for $20,656,000.The preferred stock remained in the hands of outside parties and had a fair value of $3,060,000.A database valued at $656,000 was recognized and amortized over five years.
During 2009,Thomas reported earning $630,000 in net income and paid $504,000 in total cash dividends.Kuried decided used the equity method to account for this investment.
-What was the noncontrolling interest's share of consolidated net income for this period?

---

Definitions:

Home Hospice Care

Specialized care provided at home for individuals in the final phases of terminal illness, focusing on comfort and quality of life rather than cure.

Terminally Ill

A condition in which a patient has an illness that is expected to lead to death in a short period of time.

Time Management

The process of planning and exercising conscious control of time spent on specific activities, especially to increase effectiveness, efficiency, or productivity.

Time Inventory

A method or tool used to assess and analyze how individuals allocate their time among various activities, aiming to improve time management, efficiency, and productivity.