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Company acquired a 70% interest in the Star Company in year 1. For the year ended 91. year 2, Star reported net income of $80
began operations on January 1. Year 4. $38,000 $5,000 26. Scroll. Inc., a wholly owned subsidiary of Pim, Inc. began operatio
Pims original estimates of the assets economic life and residual value. What amount should be reported as depreciation expe
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Answer #1

23 a $23400

Non-controlling share = 80000 * 30 % = 24000 less 30 % of 2000 = 24000-600 = 23400

24 b $ 41000

Sales - COGS = 91000-50000 = 41000

25 a 250000

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