Primer companys separate income in 2010 was 625000. what is, Ask an Expert

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Primer Company acquired an 80% interest in SealCoat Company on January 1, 2010, for $450,000 cash when SealCoat Company had common stock of $250,000 and retained earnings of $250,000. All excess was attributable to plant assets with a 10-year life. SealCoat Company made $50,000 in 2010 and paid no dividends. Primer Company's separate income in 2010 was $625,000. what is the controlling interest in consolidated net income for 2010 ?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M962998

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