On January 1, 2013, Riney Co

question 12

Multiple Choice

On January 1, 2013, Riney Co. owned 80% of the common stock of Garvin Co. On that date, Garvin's stockholders' equity accounts had the following balances: The balance in Riney's Investment in Garvin Co. account was $552,000, and the non-controlling interest was $138,000. On January 1, 2013, Garvin Co. sold 10,000 shares of previously unissued common stock for $15 per share. Riney did not acquire any of these shares.
What is the balance in Non-controlling Interest in Garvin Co. after the sale of the 10,000 shares of common stock?

• A) $138,000.
• B) $101,000.
• C) $280,000.
• D) $230,000.
• E) $168,000.

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Definitions:

De Novo

A Latin expression meaning "from the beginning," used to describe genes, mutations, or structures that are newly formed and not inherited from parent organisms.

Modifications

Alterations or changes made to objects, organisms, or systems, often aimed at improving function or performance.

Complex Adaptions

Traits that have evolved through the specific and intricate interplay of multiple genetic and environmental factors to solve specific problems of survival or reproduction.

Sex Pili

Hair-like appendages on the surface of bacteria used to transfer genetic material between cells during conjugation.