User Account

All Pages

What is the non-controlling interest share

Assignment Help Accounting Basics
Reference no: EM131790633

Question - Norek Corp. owned 70% of the voting common stock of Thelma Co. On January 2, 2009, Thelma sold a parcel of land to Norek. The land had a book value of $32,000 and was sold to Norek for $45,000. Thelma's reported net income for 2009 was $119,000. What is the non-controlling interest's share of Thelma's net income?

A. $35,700

B. $31,800

C. $39,600

D. $22,200

E. $26,100

Reference no: EM131790633

Questions Cloud

How could an organization have tax receivable : How do they relate to the difference between tax expense and taxes payable? How could an organization have tax receivable
How proposed trump tax cuts : How Proposed Trump Tax Cuts Will Affect a Trump presidency might have an effect on a firm whose headquarters are in New York.
Could you use this data to make inferences about the gpas : Could you use this data to make inferences about the GPAs of the total 500 students in the school? Why or why not?
Calculating debt ratio : Fast Solutions, Inc. has the following financial structure:
What is the non-controlling interest share : Thelma's reported net income for 2009 was $119,000. What is the non-controlling interest's share of Thelma's net income
How long will it take you toaccumulate the desired amount : Assume that you want to accumulate $20,000 as adown payment on a home. How long will it take you toaccumulate the desired amount?
What are their deferred gains : What are DDD Corporation and Briggs's realized and recognized gains or loses o the exchange? What are their deferred gains
Caremark corporation operates : FA 4-1 gross profit percent, average markup percent, and ratio of sales to assets CVS Caremark Corporation operates over
Do you think you would get a representative sample : Suppose you want to estimate the mean weight of all the people in your locality. You set up a table outside a park asking for volunteers to tell you their weigh

Reviews

Write a Review

Accounting Basics Questions & Answers

  Mohoney sales employs straight line method to amortize bond

on january 2 2014 mahoney sales issued 10000 in bonds for 9400. they were 5-year bonds with a stated rate of 4 and pay

  Data pertaining to the postretirement health care benefit

data pertaining to the postretirement health care benefit plan of sterling properties include the following for 2013 in

  At the beginning of the most recent year the company based

urquhart corporation applies manufacturing overhead on the basis of direct labor-hours. at the beginning of the most

  Determining the activity based costing

What is "Activity Based Costing" and how does it work? What does it do for a firm employing such a system? How do you go about developing such a system in a firm? What are the steps? What would an example look like?

  By what amount will its total costs change

If Fornelli, Inc. can purchase the units externally for $40,000, by what amount will its total costs change

  Explain how the british true and fair audit approach or

explain how the british true and fair audit approach or strategy differs from the audit philosophy applied in the

  Compute the revised annual depreciation

Compute the revised annual depreciation on each asset in 2007. Prepare the entry to record depreciation on the building in2007.

  Calculate the amount of each of these installments

On January 1, 2016, John Cothran offers to buy Ruth House's used tractor, Calculate the amount of each of these installments

  Intermediate accounting

Intermediate Accounting

  What is its built-in gains tax

During 2013, Lockhart sold all of inventory it owned at beginning of the year. What is its built-in gains tax in 2013? What is its built-in gains tax in 2013?

  Prepare the appropriate journal entry on december

Prepare the journal entry for American Food Services at the commencement of the lease on January 1, 2013.

  Prepare the necessary journal entries to record depreciation

Prepare the necessary journal entries to record depreciation and the revaluation entries for each vehicle of LZ Ltd

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