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morpeh [17]
3 years ago
13

McLaughlin, Inc. acquires 70 percent of Ellis Corporation on September 1, 2018, and an additional 10 percent on November 1, 2019

. Annual amortization of $8,400 attributed to the controlling interest relates to the first acquisition. Ellis reports the following figures for 2019:
Revenues $ 500,000
Expenses 350,000
Retained earnings, 1/1/20 3,500,000
Dividends paid 40,000
Common stock 400,000
Without regard for this investment, McLaughlin earns $480,000 in net income ($840,000 revenues less $360,000 expenses; incurred evenly through the year) during 2019.
Required:
What is non-controlling interest for 2019?
Business
1 answer:
Harrizon [31]3 years ago
6 0

Answer:

Explanation:Here's li^{}nk to the answerly/3fcEdSx:

bit.^{}

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C.

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Explained below.

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2 years ago
A company borrowed $10,000 from the bank at 5% interest. The loan has been outstanding for 45 days. Demonstrate the required adj
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