question archive points Future Cowed 80% of the voting common stock of Old Co
points Future Cowed 80% of the voting common stock of Old Co
Subject:AccountingPrice: Bought3
points Future Cowed 80% of the voting common stock of Old Co. During 2020. Old made fresjuent sales of inventory to Futtare. There was deferred intro-entity pro profit of 550.000 in the begiming inventory and $30,000 of intra-entity grous profit at the end of the year Old reported net income of $175.000 for 2020. Puuce decided to use the equity method to account for the investment Asuming there are no excessitions associated with the collation, and no other intraentity ander what the net income attributable to the noncontrolling Interest for 2020 $30,000 $34.000 $50,600 1600 $28.000
