Horton inc owns 90 percent of juvyn corporations voting


Question - Horton, Inc., owns 90 percent of Juvyn Corporation's voting stock. The purchase price exceeded book value and fair value by $80,000. Juvyn holds 20 percent of Horton's voting stock. That purchase price exceeded book value and fair value by $20,000. Any excess price is assigned to copy rights to be amortized over a 20 year period.

During the current year, Horton reported operational income of $160,000 and dividend income from Juvyn of $160,000 and dividend income from Juvyn of $27,000. At the same time, Juvyn reported operational income of $50,000 and dividend income from Horton of $14,000.

What is the Noncontrolling interest in Juvyn's Net income under the treasury stock approach?

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Accounting Basics: Horton inc owns 90 percent of juvyn corporations voting
Reference No:- TGS02592193

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