User Account

All Pages

What is the controlling interest in consolidated

Assignment Help Accounting Basics
Reference no: EM13322281

40. Keefe Inc, a calendar-year corporation, acquires 70% of George Company on September 1, 2014, and an additional 10% on January 1, 2015. Total annual amortization of $6,000 relates to the first acquisition. George reports the following figures for 2015:

Without regard for this investment, Keefe independently earns $300,000 in net income during 2015.
All net income is earned evenly throughout the year.
What is the controlling interest in consolidated net income for 2015?


A. $380,000.

B. $375,200.

C. $375,800.

D. $376,000.

E. $400,000.

Reference no: EM13322281

Questions Cloud

Berkshire inc. uses a periodic inventory system : Berkshire Inc. uses a periodic inventory system. At the end of 2012, it missed counting some inventory items, resulting in an inventory understatement by $600,000. Assume that Berkshire has a 30% income tax rate and that this was the only erro..
Write a program that uses a while loop to compute : Write a program that prints the numbers from 1 to 50 using a for loop. Rewrite the program using a do -while loop.
Find range of values of p for which equilibrium is maintain : knowing that the coefficient of static friction between the collar and the rod is .35, determine the range of values of p for which equilibrium is maintained when 0=50deg and M=20Nm
What is the resistance of the composite wire : A 137-cm-long wire is made by welding a 1.3-mm-diameter, 26-cm-long copper wire to a 0.31-mm-diameter, What is the resistance of the composite wire
What is the controlling interest in consolidated : 40. Keefe Inc, a calendar-year corporation, acquires 70% of George Company on September 1, 2014, and an additional 10% on January 1, 2015. Total annual amortization of $6,000 relates to the first acquisition. George reports the following figur..
How a non-it senior manager would arrive at the decision : Describe the process of how a non-IT senior manager would arrive at the decision to support one IT diffusion model over another. List the factors that would have to be considered. Determine which model you would choose and explain why.
What is the resistance of a household : A typical American family uses 1120 kWh of electricity a month. On average, what is the resistance of a household
Explain discrete logarithm problem relative to g : Prove that the hardness of the CDH problem relative to G implies the hardness of the discrete logarithm problem relative to G.
Find equilbirum concentration of h2s if kc for the reaction : Consider the following reaction: 2H2O (g) + 2SO2 (g) 2H2S (g) + 3O2 (g) a reaction mixture initially contains 2.8 M H2O and 2.6 M SO2. Determine the equilbirum concentration of H2S if Kc for the reaction at this temperature is 1.3 x 10^-6

Reviews

Write a Review

Accounting Basics Questions & Answers

  Impairment of intengible assets

A toffee company discovers that its competitor is producing and selling what appears to be its patented toffee-coated popcorn for a cheaper price.

  Order for the company to meet goals

If there were 30,600 units of inventory on hand on December 31, 2007, how many units should be produced in January, 2008 in order for the company to meet its goals?

  Lowest cost of goods sold for the income statement

Determing ending inventory, cost of goods sold under FIFO, LIFO and Average. Which cost flow method results in lowest inventory amount for the balance sheet, and the lowest cost of goods sold for the income statement.

  The seller deducts any accrued interest

When long-term investments in bonds are sold before their maturity date, the seller deducts any accrued interest since the last interest payment date from the selling price.

  Compute the break-even point

In August, Gold Company sold 770 units of their only product. For the month, fixed costs were $10,400, variable costs were 57% of sales, and the average sales price was $62.

  Journalize the transactions for horner corporation

Host Corporation is authorized to issue 800,000 shares of $7 par value common stock. During 2010, its first year of operation, the company has the following stock transactions.

  Incentive compensation plan problem

Wright, Inc. has an incentive compensation plan under which the sales manager receives a bonus equal to 10 percent of the company's income after deductions for bonus and income taxes.

  Estimating for sampling error results

The estimate for sampling error results because the auditor has sampled only a portion of the population. Sampling error represents the:

  High-low method of analysis

Using the high-low method of analysis, the estimated variable cost per labor hour for maintenance is closest to: A) $0.83 B) $1.84 C) $1.30 D) $1.14

  How many sets of clubs must be sold for tee times

Tee Times, Inc. produces and sells the finest quality golf clubs in all of Clay County. The company expects the following revenues and costs in 2009 for its Elite Quality golf club sets.

  Computing yearly production numbers

A company produces and sells pillows. It expects to sell 10,000 pillows in the year 2012 and had 1,000 pillows in finished goods inventory at the end of 2011.

  Build up an income statement in good form

Build up an income statement in good form for Sanford Company for the first three months of 20x3. Provide journal entries for each of the transactions. The numbers in the journal entries can be rounded to the nearest dollar.

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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