What is the noncontrolling interest''s share


Norek Corp. owned 70% of the voting common stock of Thelma Co. On January 2, 2006, Thelma sold a parcel of land to Norek. The land had a book value of $32,000 and was sold to Norek for $45,000. Thelma's reported net income for 2006 was $119,000. What is the noncontrolling interest's share of Thelma's net income?

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: What is the noncontrolling interest''s share
Reference No:- TGS076017

Expected delivery within 24 Hours