What would be the non-controlling interest amount appearing on Kho's Consolidated Statement of Financial Position at the end of 2007?

Question

Quizplus · Accepted Answer

The non-controlling interest amount is the portion of the subsidiary's equity that is not owned by the parent company. In this case, Kho owns 80% of the subsidiary, so the non-controlling interest is 20%. The subsidiary's net income for 2007 was $114,800, so the non-controlling interest's share of the net income is $22,960 (20% x $114,800). The non-controlling interest's share of the subsidiary's equity is $74,907 ($22,960 + $51,947).

What Would Be the Non-Controlling Interest Amount Appearing on Kho's