Non-controlling interest in the total income

Assignment Help Accounting Basics
Reference no: EM13159223

Scooter Company, a 70%-owned subsidiary of Pusher Corporation, reported net income of $240,000 and paid dividends totaling $90,000 during Year 3. Year 3 amortization of differences between current fair values and carrying amounts of Scooter's identifiable net assets at the date of the business combination was $45,000. The noncontrolling interest in net income of Scooter for Year 3 was:

a) $58,500.

b) $13,500.

c) $27,000.

d) $72,000.

Reference no: EM13159223

Questions Cloud

Correct example of inheritance : Which of the following relationships is not a correct example of inheritance?  Parent to Children  Aunt to Uncle  Grandparent to Grandchild
What is a marketing information system : What is a marketing information system and what should it provide? How is the value of a marketing information system measured?
What is the change in the number of unemployed people : What is the change in the number of unemployed people in this particular month and what is the change in the number of  employed people  in the same period?
Competitive intelligence activities : What competitive intelligence activities can technology help a company to perform better? Are there limitations? Which ones will you choose for which industries? Explain
Non-controlling interest in the total income : Year 3 amortization of differences between current fair values and carrying amounts of Scooter's identifiable net assets at the date of the business combination was $45,000. The noncontrolling interest in net income of Scooter for Year 3 was:
Cost method in the preparation of a consolidated workpaper : S Company earned $840,000 evenly throughout the year and declared a dividend of $300,000 on November 1. What is the amount needed to establish reciprocity under the cost method in the preparation of a consolidated workpaper on December 31, 2011?
Virtual and physical addresses : The page table shown in Figure 9.32 is for a system with 16-bit virtual and physical addresses and with 4,096-byte pages. The reference bit is set to 1 when the page has been referenced. Periodically, a thread zeroes out all values of the reference b..
Write a program that reads the data in the file and displays : Write a program that reads the data in the file and displays the car number, miles driven, gallons used and the miles per gallon for each car.
Initialize an array and fill the array with the gpa values. : Write a program in java that asks user input (using a loop) for name of 10 student and the corresponding grade point averages (GPAs). Initialize an array and fill the array with the GPA values.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd