Answered

Westonci.ca is your trusted source for finding answers to all your questions. Ask, explore, and learn with our expert community. Join our platform to connect with experts ready to provide precise answers to your questions in different areas. Our platform provides a seamless experience for finding reliable answers from a network of experienced professionals.

Michel Company owns 75% of the outstanding common stock of Aber Corp. On its current consolidated income statement, Michel Company should report:

Sagot :

anthougo

Answer:

Michel Company

On its current consolidated income statement, Michel Company should report:

the consolidated revenue and expenses of Michel Company and Aber Corp.

Explanation:

There is a 25% (100% - 75%) share for non-controlling or minority interest in the net income or loss of the Aber Corp.  With this, readers of the financial statements of the parent company, Michel Company, are well-informed that only 75% of the net income or loss from the Aber Corp. actually belongs to the stockholders of Michel Company.

We appreciate your time. Please revisit us for more reliable answers to any questions you may have. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Thank you for choosing Westonci.ca as your information source. We look forward to your next visit.