User Account

All Pages

What is the balance in the non controlling interest account

Assignment Help Financial Accounting
Reference no: EM131106523

On January 1, year 1, Palm, Inc. purchased 80% of the stock of Stone Corp. for $4,000,000 cash. Prior to the acquisition, Stone had 100,000 shares of stock outstanding. On the date of acquisition, Stone's stock had a fair value of $52 per share.

During the year Stone reported $280,000 in net income and paid dividends of $50,000. What is the balance in the non controlling interest account on Palm's balance sheet on December 31, year 1?

Reference no: EM131106523

Questions Cloud

Firm pretax cost of debt : Madison Square Stores has a $20 million bond issue outstanding that currently has a market value of $18.6 million. The bonds mature in 6.5 years and pay semiannual interest payments of $35 each. What is the firm's pretax cost of debt?
Prepare moonwalkers journal entry : Prepare Moonwalker's journal entry to record the issuance of the company's stock.
What amount of retained earnings would pane report : What amount of retained earnings would Pane report in its June 30, year 2 consolidated balance sheet?
Service level requirement equivalent to : How do your answers to part a of the previous problem change if, instead of incurring a $40 penalty cost for each shortage, the store has a service level requirement of meeting 95% of all customer demands on time?
What is the balance in the non controlling interest account : During the year Stone reported $280,000 in net income and paid dividends of $50,000. What is the balance in the non controlling interest account on Palm's balance sheet on December 31, year 1?
Cost each time a customer orders a dvd player : In the previous problem, assume that it costs $300 to place an order. The holding cost per DVD player held in inventory per year is $15. The cost each time a customer orders a DVD player that is not in stock is estimated at $40. (All demand is ba..
Prepare the february journal entry : On February 1, 2010, Buffalo Corporation issued 3,000 shares of its $5 par value common stock for land worth $31,000. Prepare the February 1, 2010, journal entry.
Test the network and thereby determine the classification : For a varying number of epochs, construct the decision boundary computed by the EKF algorithm so as to determine the "best" classification performance.
Consultations with several key managers within nwc : Consultations with several key managers within NWC, including production, inventory, and receivable managers, have yielded some very useful information. NWC's high DSO is largely due to one significant customer who battled through some hardships the ..

Reviews

Write a Review

Financial Accounting Questions & Answers

  What is alternative to recording supplies in accounting

So what is alternative to recording supplies in accounting? Also, what are two ways i can increase my assets and where does an accountant obtain all the data needed for adjusting entries?

  Depreciation and amortization expense

During 2015, Rindal Vinyards Inc. had EBITDA of $1000, Depreciation and Amortization Expense of $200, Interest Expense of $100, and Tax Expense of $50. What was Rindal Vinyards Net Income in 2015?

  Maturity and pay interest semiannually

The bonds have a 10 year term to maturity and pay interest semiannually. Acorn's common stock has a par value of $20.00 per share

  What is the npv of the project

Suppose your required return on the project is 8 percent and your pretax cost savings are $196,000 per year. What is the NPV of the project?(Do not include the dollar sign ($). Round your answer to 2 decimal places (e.g., 32.16).)

  Demand and purchase order lead time

At what point should managers reorder the steering wheels, assuming that both demand and purchase-order lead time are known with certainty

  Is an increase in your bank statement a debit or a credit

Is an increase in your bank statement a debit or a credit? What method would you use to summarize transactions and transfer to the ledger?

  Depreciation expense effect the accounting equation

How will the failure to make the appropriate adjusting entry to record depreciation expense effect the accounting equation?

  Should the firm undertake the advertising campaign

Should the firm undertake the advertising campaign? Why or why not? What is the probability level regarding the state of the market that will render the manager indifferent as to the courses of action?

  Question jamie wong is considering building an investment

question jamie wong is considering building an investment portfolio containing two stocks l and m. stock l can

  The franc zeppo venture manufactures a product that goes

the franc zeppo venture manufactures a product that goes during two processing departments. information relating to the

  About the purchase discount

On December 28, 2012 Piedmont Supply Co. ships $155,000 of merchandise by common carrier to the Maxwell Company. The terms of the sale are 3/15, n/45, FOB destination. It takes 5 days for the merchandise to arrive at Maxwell Company. Both Piedmont Su..

  The effective interest method is used

On January 1, 2015 Bono Company sold property to Leary Company. There was no established exchange price for the property, and Leary gave bono a $2,000,000 zero interest bearing note payable in 5 equal annual installments of $400,000, with the first p..

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