Xing Corporation owns 80 percent of the voting common shares of Adams Corporation.Noncontrolling interest was assigned $24,000 of income in the 2009 consolidated income statement.What amount of net income did Adams Corporation report for the year?
A)$150,000
B)$96,000
C)$120,000
D)$30,000

Question

Quizplus · Accepted Answer

The Answer of Xing Corporation owns 80 percent of the voting common shares of Adams Corporation.Noncontrolling interest was assigned $24,000 of income in the 2009 consolidated income statement.What amount of net income did Adams Corporation report for the year?
A)$150,000
B)$96,000
C)$120,000
D)$30,000

Xing Corporation Owns 80 Percent of the Voting Common Shares