An 80%-owned subsidiary sells land to its parent at a gain of $100,000. The following year, the parent sells the land to an outside entity for a gain of $10,000. How is the noncontrolling interest in net income affected in the year the parent sells the land?

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The Answer of An 80%-owned subsidiary sells land to its parent at a gain of $100,000. The following year, the parent sells the land to an outside entity for a gain of $10,000. How is the noncontrolling interest in net income affected in the year the parent sells the land?

An 80%-Owned Subsidiary Sells Land to Its Parent at a Gain