Mathematics, 05.06.2021 01:00, 1846252

Philly acquired 70% of Silly for $540,000 on January 1, 2019 when Subsidiary Retained Earnings $200,000 and Capital $400,000. Silly net income at Dec 2019 was $600,000 and Philly net income was $990,000. During the year Silly has sold land costing $320,000 to Philly for $360,000 cash. The non-controlling interest share on Silly's net income for 2019 would be: Select one:

a. $192,000

b. $168,000

c. $180,000

d. $156,000

Answers: 2

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Philly acquired 70% of Silly for $540,000 on January 1, 2019 when Subsidiary Retained Earnings $200,...