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Paice Corporation owns 80% of the voting common stock of Accardi Corporation. Paice owns 60% of the voting common stock of Badger Corporation. Accardi owns 20% of the voting common stock of Badger. There are no cost/book value/fair value differentials to consider. The separate net incomes (excluding investment income) of these affiliated companies for 2011 are:

Paice $300,000
Accardi 160,000
Badger 120,000

Required:

find out controlling interest share of consolidated net income and noncontrolling interest shares for Paice Corporation and Subsidiaries for 2011.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M948446

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