The Following Data Pertains to Questions

question 20

Multiple Choice

The following data pertains to questions
Parent and Sub Inc had the following balance sheets on July 31,2007: The Net Incomes for Parent and Sub Inc for the year ended July 31,2007 were $120,000 and $60,000 respectively.
-What would be the amount of Non-Controlling Interest appearing on the Consolidated Balance Sheet on the date of acquisition,assuming once again that Parent purchased 80% of Sub Inc.for $180,000 under current GAAP?

• A)$26,000
• B)$86,000
• C)$72,000
• D)The answer cannot be determined from the information given.

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Definitions:

Attractiveness

A characteristic or feature of something that draws interest or appreciation from others.

Requester

An individual or entity asking for something to be provided or done, often within the context of services or transactions.

Affinity

A natural liking or attraction to a person, place, thing, or idea, often leading to a sense of connection or loyalty.

Consumer Decision Making

The process by which individuals or groups select, purchase, use, and dispose of goods and services.