Pinta company acquired an 80% interest in strummer company on january 1, 2013, for $270,000 cash when strummer company had common stock of $150,000 and retained earnings of $150,000.
all excess was attributable to plant assets with a 10-year life. strummer company made $30,000 in 2013 and paid no dividends. pinta company's separate income in 2013 was $375,000.

controlling interest in consolidated net income for 2013 is:

a. $405,000.

b. $399,000.

c. $396,000.

d. $375,000.

b. $399,000.

Explanation:

Controlling interest in consolidated net income for 2013 will be 100% of parents revenue and 80% share of subsidiary's profit for the year 2013

100% of Pinta's income - 375,000

80% of Strunner's income-24,000

Total attributable to Pinta - 399,000

answer; ///deficit;

two years ago, when picking flowers in the mountains back of yosemite valley, i found a book. it was blotted and storm-beaten; all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however; many of the inner pages were well preserved. and although all were more or less stained and torn, whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today; its granite pages have been torn and blurred by the same storms that wasted the castaway book.

two years ago, when picking flowers in the mountains back of yosemite valley; i found a book. it was blotted and storm-beaten, all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however, many of the inner pages were well preserved. and although all were more or less stained and torn; whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today, its granite pages have been torn and blurred by the same storms that wasted the castaway book.