Rojas Co Owned 7,000 Shares (70%) of the Outstanding 10%, $100

question 90

Multiple Choice

Rojas Co. owned 7,000 shares (70%) of the outstanding 10%, $100 par preferred stock and 60% of the outstanding common stock of Brett Co. When Brett reported net income of $780,000, what was the non-controlling interest in the subsidiary's income?

• A) $234,000.
• B) $273,000.
• C) $302,000.
• D) $312,000.
• E) $284,000.

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Definitions:

Herbaceous Plants

Plants that do not have woody stems and typically die back to the ground level at the end of the growing season.

Woody Plants

Plants that produce wood as their structural tissue and typically have perennial growth.

Neogene Period

A division of geological time from approximately 23 to 2.6 million years ago, part of the Cenozoic Era.

Chemical Evolution

The process through which simple chemical compounds gradually transformed into more complex molecules, eventually leading to the emergence of life.