User Account

All Pages

What is the non-controlling interest''s net income

Assignment Help Accounting Basics
Reference no: EM131794839

Parent Corporation acquired 75% of Subsidiary Corporation's voting stock on January 1, 2004, for $348,000, when the fair value of the noncontrolling interest was $116,000. Subsidiary reported common stock outstanding of $150,000 and retained earnings of $270,000. The excess of fair value over book value of Subsidiary's net assets was attributed to amortizable assets with a remaining life of 10 years. On December 31, 2004, Subsidiary sold a building to Parent and recorded a gain of $20,000.

The net income of the subsidiary for 2004 is $94,400 and the parent had net operating income of $234,000.

Required: Calculate the following amounts and write the answer on the line provided.

A. What is the amount of amortization from the acquisition on January 1, 2004?

B. What is the Non-controlling Interest's net income?

C. What is the Controlling Interest Net Income?

D. What is the Consolidated Net Income?

Reference no: EM131794839

Questions Cloud

Write a recursive function to implement selection sort : The recursive simple-selection-sort function in Exercise .Write a recursive function to implement simple selection sort.
What was the amount of the depreciation expense : the company had costs of 52,300 dividends of 1,000 and interest paid of 900 the tax rate was 34%. What was the amount of the depreciation expense
Prepare the june income statement for chi-lite : The following event took place for Chi-Lite Inc. Prepare the June income statement for Chi-Lite. Assume that Chi-Lite uses the perpetual inventory method.
Write a program that reads records containing an employee : Write a program that reads records containing an employee number and an hourly rate for several employees and stores these in a heap.
What is the non-controlling interest''s net income : What is the Non-controlling Interest's net income, What is the Consolidated Net Income
Write a driver program to test the heap class template : Design a class template for the Heap ADT, using the implementation described in this section.Write a driver program to test the Heap class template of Exercise
How large must the annual payments : They expect their investment account to earn 9%. How large must the annual payments at t = 5, 6, and 7 be to cover Ellen's anticipated college costs
Write a program that compares the execution times : Write a program that compares the execution times of various O(n2) sorting algorithms described in this section for randomly generated lists of integers.
Write a program that reads the records in used file : Write a program that reads the records in Used File (described at the end of Chapter 4) and stores them in an array or vector.

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: +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