REFERENCE: Ref.05_11 Pepe,Incorporated Acquired 60% of Devin Company on January 1,2009.On That

question 14

Multiple Choice

REFERENCE: Ref.05_11
Pepe,Incorporated acquired 60% of Devin Company on January 1,2009.On that date Devin sold equipment to Pepe for $45,000.The equipment had a cost of $120,000 and accumulated depreciation of $66,000 with a remaining life of 9 years.Devin reported net income of $300,000 and $325,000 for 2009 and 2010,respectively.Pepe uses the equity method to account for its investment in Devin.
-Compute the noncontrolling interest in the net income of Devin for 2010.

• A)$126,800.
• B)$130,000.
• C)$122,000.
• D)$130,000
• E)$129,600.

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Definitions:

Inner Ear

Portion of the ear consisting of a vestibule, semicircular canals, and the cochlea where equilibrium is maintained and sound is transmitted.

Aqueous Humor

A clear fluid that fills the space in the front part of the eye between the lens and the cornea.

Vitreous Humor

The clear gel that fills the space between the lens and the retina of the eyeball.

Cornea

The transparent front part of the eye that covers the iris, pupil, and anterior chamber, contributing to the eye's focusing power.