What amount would be reported as income


On January 1, 2008, Wilhelm Corporation acquired 90 % of Kaiser Company's voting stock, at underlying book value. The fair value of the noncontrolling interest was equal to 10 % of the book value of Kaiser at that date. Wilhelm uses the equity method in accounting for its ownership of Kaiser. On December 31, 2009, the trial balances of the two companies are as follows:

What amount would be reported as income to controlling interest in the consolidated financial statements for 2009?

 

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Accounting Basics: What amount would be reported as income
Reference No:- TGS062153

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