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:
Definitions:
Neural Plate
An early embryonic structure that gives rise to the central nervous system, including the brain and spinal cord, through the process of neurulation.
Notochord
A flexible rod made of a material similar to cartilage that provides support in the embryonic stages of all chordates.
Neural Crest
A population of cells that arise from the embryonic ectoderm and migrate to form various structures, including peripheral nerves, melanocytes, and facial cartilage.
Vertebrate Embryo
An early developmental stage in vertebrates where the organism is undergoing formation and differentiation of tissues and organs after fertilization.
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