On January 1, 2011 Paki Inc.bought 75% interest in Adam Corporation.At the time of purchase, Adam owned 80% of Baird Company.In all acquisitions, the book value equals the fair value, which equals the acquisition cost.Separate earnings (loss)(excluding investment income)for the three affiliates for 2011 are as follows:
Required:
Compute controlling interest share of consolidated net income and noncontrolling interest shares for Paki and affiliates for 2011.

Question

On January 1, 2011 Paki Inc.bought 75% interest in Adam Corporation.At the time of purchase, Adam owned 80% of Baird Company.In all acquisitions, the book value equals the fair value, which equals the acquisition cost.Separate earnings (loss)(excluding investment income)for the three affiliates for 2011 are as follows:
  Required:
Compute controlling interest share of consolidated net income and noncontrolling interest shares for Paki and affiliates for 2011.

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The Answer of On January 1, 2011 Paki Inc.bought 75% interest in Adam Corporation.At the time of purchase, Adam owned 80% of Baird Company.In all acquisitions, the book value equals the fair value, which equals the acquisition cost.Separate earnings (loss)(excluding investment income)for the three affiliates for 2011 are as follows:
  Required:
Compute controlling interest share of consolidated net income and noncontrolling interest shares for Paki and affiliates for 2011.