What is the controlling interest in consolidated net income, Accounting Basics

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What is the controlling interest in consolidated net income

Keefe Inc. a calendar year corporation, acquires 70% of George Company on september 1, 2009 and an additional 10% on April 1, 2010. Anual amortization for the initial acquizition is 6000 (this does not include the the additional 10% on 4/1). George reports the following:

Revenue: 500000
Expenses: 400,000
Retained earnings 1/1/10: 300000
Dividends paid: 50,000
Common stock: 200000

Without regards to investments Keefe's income is 300,000 all income is earned evenly
What is the controlling interest in consolidated net income?

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Accounting Basics: What is the controlling interest in consolidated net income

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Accounting Basics: What is the controlling interest in consolidated net income

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Recent Questions Asked Accounting Basics

Q : Determine the rate and efficiency variances for the variable

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Q : What is the controlling interest in consolidated net income

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What is the controlling interest in consolidated net income

Reference No:- TGS0706897

Recent Questions Asked Accounting Basics

Q : Determine the rate and efficiency variances for the variable

Q : How much additional revenue would the ride have to generate

Q : Used to provide awards to graduating seniors

Q : What were net sales for the year

Q : What is the controlling interest in consolidated net income

Q : Lost an entire plant due to an earthquake

Q : What is bs epreciation expense

Q : How can calculate the percentage completion method

Q : Wolf uses the effective interest method of amortization

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