A. Rollins owns 40 % of Sussex. On October 1, 2009 Rollins reduces its ownership percentage...

Question

Question

business accounting

Answer 1

Answer #1

A.

Total Income for 1st 9 months=$100000

Total Income for last 3 months=$400000

A. share of Rollins income for 1st 9 months = $100000*40% = $40000

B. share of Rollins income for last 3 months = $400000*10% = $40000

Total Rollins share of income =A+B = $80000

B.

Total Rollins share of income = Total income* Share of Rollins ownership

=($100000+$400000)*40%

=$500000*40%

=$200000

Answer 2

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