Seattle,Inc.owns an 80 percent interest in a Portuguese subsidiary.For 20X8,Seattle reported income from operations of $2.0 million.The Portuguese company's income from operations,after foreign currency translation,was $1.1 million.The foreign currency translation adjustment was $120,000 (credit).Consolidated net income and consolidated comprehensive income for the year are:

A)Option A
B)Option B
C)Option C
D)Option D

Question

Seattle,Inc.owns an 80 percent interest in a Portuguese subsidiary.For 20X8,Seattle reported income from operations of $2.0 million.The Portuguese company's income from operations,after foreign currency translation,was $1.1 million.The foreign currency translation adjustment was $120,000 (credit) .Consolidated net income and consolidated comprehensive income for the year are:

A)Option A 
B)Option B 
C)Option C 
D)Option D

Quizplus · Accepted Answer

The Answer of Seattle,Inc.owns an 80 percent interest in a Portuguese subsidiary.For 20X8,Seattle reported income from operations of $2.0 million.The Portuguese company's income from operations,after foreign currency translation,was $1.1 million.The foreign currency translation adjustment was $120,000 (credit).Consolidated net income and consolidated comprehensive income for the year are:

A)Option A 
B)Option B 
C)Option C 
D)Option D