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Pepe, Incorporated acquired 60% of Devin Company




Question;Pepe, Incorporated acquired 60% of Devin Company;on January 1, 2010. On that date Devin sold equipment to Pepe for $45,000. The;equipment had a cost of $120,000 and accumulated depreciation of $66,000 with a;remaining life of 9 years. Devin reported net income of $300,000 and $325,000;for 2010 and 2011, respectively. Pepe uses the equity method to account for its;investment in Devin.;Compute the non-controlling interest in the net;income of Devin for 2011.


Paper#41060 | Written in 18-Jul-2015

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