Reference no: EM132738371
Question - Smith, Inc., has the following stockholders' equity accounts as of January 1, 2018:
Preferred stock-$100 par, nonvoting and nonparticipating, 8% cumulative dividend $2,200,000
Common stock-$20 par value 4,200,000
Retained earnings 10,200,000
Haried Company purchases all of Smith's common stock on January 1, 2018, for $14,430,000. The preferred stock remains in the hands of outside parties. Any excess acquisition-date fair value will be assigned to franchise contracts with a 30-year remaining life.
During 2018, Smith reports earning $650,000 in net income and declares $560,000 in cash dividends. Haried applies the equity method to this investment.
Required -
a. What is the noncontrolling interest's share of consolidated net income for this period?
b. What is the balance in the Investment in Smith account as of December 31, 2018?
c. What consolidation entries are needed for 2018?
|
How is the independent contractor hurt
: When workers are treated as independent contractors, they do not get a W-2 form at tax time, how is the independent contractor hurt
|
|
Element of effective safety management system
: Based on your perception and knowledge of Safety Management Systems, what is the most influential element of an effective Safety Management System?
|
|
Aviation safety action program
: Explain the benefits of the FAA Aviation Safety Action Program (ASAP) program, and the biggest deterrent to the program working effectively?
|
|
Clojure operators-sliding door scenario
: This scenario is concerned with doors. Doors can be in different states (open or closed, locked or unlocked).
|
|
What is the balance in the Investment in Smith account
: Preferred stock-$100 par, nonvoting and nonparticipating, 8% cumulative dividend $2,200,000. What is the balance in the Investment in Smith account
|
|
What areas of your practical experience and skills
: What areas of your own practical experience and skills can you apply to your academic career? To your professional career?
|
|
Find the maximum CCA deduction for Class
: B's Class 8 UCC balance the beginning of the current year was $10,000. Find the maximum CCA deduction for Class 8 that B can claim in the current year
|
|
Firm understanding on all information systems
: Why is it important to have a firm understanding on all information systems, regardless of department you work in? Provide details.
|
|
Explain two problematic classroom self-perceptions
: Identify and Explain two problematic classroom self-perceptions. How might these tendencies be displayed within the workplace?
|