What the controlling interest in consolidated net income


Primer Company acquired an 80% interest in SealCoat Company on January 1, 2010, for $450,000 cash when SealCoat Company had common stock of $250,000 and retained earnings of $250,000. All excess was attributable to plant assets with a 10-year life. SealCoat Company made $50,000 in 2010 and paid no dividends. Primer Company's separate income in 2010 was $625,000.what the controlling interest in consolidated net income for 2010 ?

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: What the controlling interest in consolidated net income
Reference No:- TGS088195

Expected delivery within 24 Hours