Answer:
Closing NCI = $234,300 + $69,000 = $303,300
Explanation:
The Question is to identify the non-controlling interes in Ramirez Corporation
First we determine the Net income of Ramirez
Net Income = Revenues - Expenses
= $635,000 - $405,000 = $230,000
The next step is to dtermine the value of non -controling interest in teh net income of Ramirez.
Non-Controlling Interest in Net Income = NCI percentge x Net Income
= 30% x $230,000 = $69,000
Finally, based on these calculations , we can compute the Closing Balance of Non-Controlling Interest
The formula = Opening Non-Controlling Interest + Non-controlling Interest Share of Net income
Closing NCI = $234,300 + $69,000 = $303,300
