Business, 08.04.2020 01:47 weckesserj9492
Gargiulo Company, a 90% owned subsidiary of Posito Corporation, sells inventory to Posito at a 25% profit on selling price. The following data are available pertaining to intra-entity purchases. Gargiulo was acquired on January 1, 2012. 2012 2013 2014Purchase by Posito $8,000 $12,000 $15,000Ending inventory on Posito's books 1,200 4,000 3,000Assume the equity method is used. The following data are available pertaining to Gargiulo's income and dividends. 2012 2013 2014Gargiulo's net income $70,000 $85,000 $94,000Dividends paid by Gargiulo 10,000 10,000 15,000Compute the non-controlling interest in Gargiulo's net income for 2013.A. $8570B. $8500C. $8430D. $8400E. $7580
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Gargiulo Company, a 90% owned subsidiary of Posito Corporation, sells inventory to Posito at a 25% p...
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