User Account

All Pages

What is the consolidated net income for william corp

Assignment Help Accounting Basics
Reference no: EM132779140

On January 1, 2016, William Corp. paid cash of P600,000 for all the outstanding shares of Kate Company. The carrying value of the assets and liabilities of Kate on January 1, 2016 follow:

Accounts Receivable P90,000
Inventory 180,000
Plant & Equipment (net of Accumulated Depreciation) 320,000
Goodwill 100,000
Liabilities 120,000

On January 1, 2016 Kate inventory had a fair value of P150,000 and plant & equipment (net) had a fair value of P380,000. Cost of arranging the combination are as follows: legal fees for combination, P30,000; finder's fee, P50,000; other direct costs, P70,000. Net income of William and Kate for 2016 amounts to P188,000 and P90,000, respectively. William received dividend of P20,000 from Kate during 2016. The PPE has original useful life of 10 years and was already held for 4 years as of date of acquisition.

Problem 1: What is the consolidated net income?

Reference no: EM132779140

Questions Cloud

Discuss 5 principles of henri fayol : Discuss these 5 principles of Henri Fayol to the extent that they are in used in today's organizations and how they affect organizational performance.
What should the employee do : The owner asks an employee to change the method of estimating bad debits to a flat 3% of receivables. What should the employee do?
Changed how rivals view global competition : Provide an example of a corporation that disrupted its industry's traditional value chain in a way that changed how rivals view global competition.
How do the mission and vision statements of an organization : How do the mission and vision statements of an organization affect management strategy? Why is it important to clearly articulate the statements
What is the consolidated net income for william corp : What is the consolidated net income? On January 1, 2016, William Corp. paid cash of P600,000 for all the outstanding shares of Kate Company.
Hard power and soft power negotiating strategies : Explain the difference between hard power and soft power negotiating strategies in the context of international business negotiations.
Investigate site optimization functionality offered : Investigate site optimization functionality offered by analytics programs such as Webtrends Optimize, Google Analytics, and Optimizely.
Analyze tesla facility using one of tools : Using one of the major tools (Value Chain, Resource Analysis, Organizational Design, Sources of Competitive Advantage, and Industry Life Cycle)
What flow charts and cause-and-effect diagrams : Conduct research to explain what flow charts and cause-and-effect diagrams are and how they are used in the hospitality industry.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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