On January 1,20X7,Server Company Purchased a Machine with an Expected

question 23

Multiple Choice

On January 1,20X7,Server Company purchased a machine with an expected economic life of five years.On January 1,20X9,Server sold the machine to Patron Corporation and recorded the following entry:
Patron Corporation holds 75 percent of Server's voting shares.Server reported net income of $50,000,and Patron reported income from its own operations of $100,000 for 20X9.There is no change in the estimated economic life of the equipment as a result of the intercorporate transfer.
-Based on the preceding information,income assigned to the noncontrolling interest in the 20X9 consolidated income statement will be:

• A)$12,000.
• B)$14,000.
• C)$12,500.
• D)$48,000.

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Definitions:

American Psychological Association

The leading scientific and professional organization representing psychology in the United States, dedicated to advancing the creation, communication, and application of psychological knowledge.

G. Stanley Hall

An American psychologist and educator who is considered the father of child psychology and developmental psychology, known for his works on adolescence and education.

Sigmund Freud

A neurologist from Austria and the originator of psychoanalysis, which is a therapeutic technique for addressing mental disorders via conversations between a psychoanalyst and their patient.

Observable Behaviour

Any action or reaction of a person or animal that can be directly observed and measured, excluding internal states or thoughts.