Reference no: EM13127186
On January 1, 2013, Slaughter sold equipment to Bennett (a wholly owned subsidiary) for $120,000 in cash. The equipment had originally cost $100,000 but had a book value of only $70,000 when transferred. On that date, the equipment had a five-year remaining life. Depreciation expense is computed using the straight-line method.
Slaughter earned $220,000 in net income in 2013 (not including any investment income) while Bennett reported $90,000. Slaughter attributed any excess acquisition-date fair value to Bennett's unpatented technology, which was amortized at a rate of $8,000 per year.
a. What is the consolidated net income for 2013?
b. What is the parent's share of consolidated net income for 2013 if Slaughter owns only 90 percent of Bennett?
c. What is the parent's share of consolidated net income for 2013 if Slaughter owns only 90 percent of Bennett and the equipment transfer was upstream?
|
Historical cost of the generators
: The company estimates that the non-guaranteed residual values on generators are equal to an average of 10 percent of the historical cost of the generators. Finance Here Sales & Service can expect that:
|
|
Calculate the partial pressure of the gases
: A mixture of gases contains 0.290 mol CH4, 0.240 mol C2H6, and 0.300 mol C3H8. The total pressure is 1.40 atm. Calculate the partial pressure of the gases.
|
|
What are the advantages to normalization
: What is data redundancy? We know that the normalization breaks up large tables into smaller more manageable tables.
|
|
Find range-mean price and standard deviation of gasoline
: The prices recorded were $1.36, $1.37, $1.38, $1.39, and $1.40. What is the range, mean price, and the standard deviation of the gasoline?
|
|
What is the consolidated net income for 2013
: Slaughter earned $220,000 in net income in 2013 (not including any investment income) while Bennett reported $90,000. Slaughter attributed any excess acquisition-date fair value to Bennett's unpatented technology, which was amortized at a rate of ..
|
|
Incremental borrowing rate
: Five equal payments of $10,000 per year are required by the term of the lease, with the first payment due upon signing. Quattro's incremental borrowing rate is 8%, but its implicit interest rate is unknown.
|
|
Visual displays
: 1. Identify the source and audience of the selected Website or print medium. Describe how its format and visual displays are used to appeal to a viewer's interest and willingness to engage with the source.
|
|
What is the kb of the weak base
: Titration of 15mL of 0.125M unknown base with 0.103M HCl required 18.2mL to reach the equivalence point. the pH at the equivalence point was 2.74.
|
|
Confidence interval for average age of students in statistic
: Their average age was 19.1 years with a standard deviation of 1.5 years. What is the 95% confidence interval for the population mean?
|