9. Required information Based on the preceding information, what is the amount o
ID: 2487990 • Letter: 9
Question
9.
Required information
Based on the preceding information, what is the amount of consolidated comprehensive income reported for 20X8?
$125,000
$123,750
$118,750
$130,000
10.
Required information
Based on the preceding information, what is the amount of consolidated comprehensive income reported for 20X9?
$145,000
$135,000
$138,750
$128,750
11.
Required information
Based on the preceding information, what is the amount of comprehensive income attributable to the controlling interest for 20X8?
$123,750
$118,750
$119,000
$104,000
12.
Required information
Based on the preceding information, what is the amount of comprehensive income attributable to the controlling interest for 20X9?
$138,750
$131,000
$128,750
$135,000
Please show your work. Thank you!
Explanation / Answer
Increase in fair value of intangible asset 50000 Life of asset 8 years Amount to be amortized each year = 50000 / 8 = 6250 per year A) Consolidated comprehensive income Bristol Add: Animation Less: Amortization Consolidated corportaion expense Comprehensive Income Year 20x8 100000 30000 6250 123750 20x9 100000 45000 6250 138750 Comprehensive income attributable to controlling interest in Animation Corporation Animation corportaion Less: Amortization Net comprehensive Controlling Comprehensive Income expense income Interest 80% Year 20x8 30000 6250 23750 19000 20x9 45000 6250 38750 31000 Net comprehensive income attributable to Controlling Interest Bristol Share in Animation Total corporatiom Year 20x8 100000 19000 119000 20x9 100000 31000 131000 answer are A) 123750 B) 138750 C) 119000 D) 131000
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