Paice Corporation owns 80% of the voting common stock of Accardi Corporation.Paice owns 60% of the voting common stock of Badger Corporation.Accardi owns 20% of the voting common stock of Badger.There are no cost/book value/fair value differentials to consider.The separate net incomes (excluding investment income)of these affiliated companies for 2014 are:
$$\begin{array} { l l }
\text { Paice } & \$ 300,000 \
\text { Accardi } & 160,000 \
\text { Badger } & 120,000
\end{array}$$ Required:
Calculate controlling interest share of consolidated net income and noncontrolling interest shares for Paice Corporation and Subsidiaries for 2014.

Question

Paice Corporation owns 80% of the voting common stock of Accardi Corporation.Paice owns 60% of the voting common stock of Badger Corporation.Accardi owns 20% of the voting common stock of Badger.There are no cost/book value/fair value differentials to consider.The separate net incomes (excluding investment income)of these affiliated companies for 2014 are:
 $$\begin{array} { l l } 
\text { Paice } & \$ 300,000 \
\text { Accardi } & 160,000 \
\text { Badger } & 120,000
\end{array}$$ Required:
Calculate controlling interest share of consolidated net income and noncontrolling interest shares for Paice Corporation and Subsidiaries for 2014.

Quizplus · Accepted Answer

The Answer of Paice Corporation owns 80% of the voting common stock of Accardi Corporation.Paice owns 60% of the voting common stock of Badger Corporation.Accardi owns 20% of the voting common stock of Badger.There are no cost/book value/fair value differentials to consider.The separate net incomes (excluding investment income)of these affiliated companies for 2014 are:
 $$\begin{array} { l l } 
\text { Paice } & \$ 300,000 \
\text { Accardi } & 160,000 \
\text { Badger } & 120,000
\end{array}$$ Required:
Calculate controlling interest share of consolidated net income and noncontrolling interest shares for Paice Corporation and Subsidiaries for 2014.

Paice Corporation Owns 80% of the Voting Common Stock of Accardi