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The FASB ASC paragraph 810-10-45-16 states: “The noncontrolling interest shall be reported in the consolidated statement of financial position within equity, separately from the parent's equity. That amount shall be clearly identified and labeled, for example, as noncontrolling interest in subsidiaries.â€
However, prior to issuing this current reporting requirement, the FASB considered several alternative display formats for the noncontrolling interest. Access the precodification standard, SFAS 160, “Noncontrolling Interest in Consolidated Financial Statements,†at www.fasb.org to answer the following:
Fungus Audio Works Inc. warrants its products for one year. The estimated product warranty is 3% of sales. Assume that sales were $680,000 for January. In February, a customer received warranty repairs requiring $4,200 of parts.a. Determine the warra..
Formulate your own opinion on the proper treatment for the $5,000,000 commercial paper based on your reading in the text. Explain how you think the item should be reported and give textbook pages to support your conclusions.
Review the roles of management accounting within a company. What is the most important role of management accounting? How is that different than financial accounting?
steve drake sells a rental house on january 1 2011 and receives 130000 cash and a note for 55000 at 10 percent
The Working Families Tax Relief Act of 2004 changed the definition of a qualifying dependent. Why was this changed? What other provisions were included in this Act? How did the provision impact working families?
Rons sells his business accounts receivable of $100,000 to Mike for $80,000 (80% of the face value of the accounts reveivable). Mike later determines that he will be able to collect only 9000, of a 10,000 receivable. Mike's basis in the 10,000 acc..
tyrene products manufactures recreational equipment. one of the companys products a skateboards sells for 32. the
In year 1 Laylor Company has revenues of $100,000, advertising expense of $22,000, depreciation of $15,000-what is expected for last four years. The cost of capital is 10%.
how are generally accepted auditing standards used?what analytical procedures are used during an audit?how is an audit
amr corporationnbspparent company ofnbspamerican airlines reported the following for 2009 in millions.service
Identify and describe the general formula for calculating the adjusted basis of property.
select one of the following topics to researchcoffee or caffeineeggslow-fat dietslow-carb dietsother nutrition topic
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