1. How much is the consolidated sales for 2022?   2. How much is the net income attributable to the parent for 2022?   3. How much is the net income attributable to the non-controlling interests for 2022?

Q: Baba Plc has owned 100% of the issued share capital of Onua Plc for many years. Baba Plc sells goods…

A: The cost of goods sold represents the cost incurred in selling the goods and services to the…

Q: Cattle Company sold inventory with a cost of $40,000 to its 90%-owned subsidiary, Range Corp., for…

A: Lets understand the basics. When inter company transaction of inventory is made between the parent…

Q: In 2022, ABC Company sold inventory costing P150,000 to its 80%-owned subsidiary for P210,000. A…

A: Consolidated Financial statements present assets, liabilities, equities , income , expenses etc of…

Q: 80%-owned subsidiary for P210,000. A portion of this was resold by the subsidiary in 2022 for…

A: Consolidated balance sheet presents the financial position of the company in an affiliated group…

Q: Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s)…

A: The difference between the present value of cash inflows and the present value of cash outflow is…

Q: Emily Corporation acquired inventories on May 1, 2015 from its 70% owned subsidiary, SR Company. The…

A: A non-controlling interest, also known as a minority interest, is an ownership position in which a…

Q: Compute for the consolidated net income

A: The consolidated net income is the combined income of both the parent company and its subsidiaries.…

Q: 80,000. By the end of the year inventory on hand are valued at $48,000 transfer price. Parent…

A: Journal entries (JF) refers to the original books of accounts which reports the event occurred in…

Q: Green Co. sold inventories on May 1, 2019 to its 75% owned subsidiary, Indigo Company. The…

A: Non-controlling interest refers to the shareholders of the company who does not control the affairs…

Q: H has a 75% owned subsidiary S. During the year ending 31 December 2021 H sold inventory to  S for…

A: Given information Inventory sold = 800,000 Markup = 25% Percentage of inventory sold to outside…

Q: Secam is a 80% owned subsidairy of Pal corporation, acquired at book value severa ago. Compartive…

A: 1. Truck A/c  $1800000          To Secam a/c. $1800000    Secam  $1798500          To Cash $1798500

Q: Sinovac Corporation, a 75% own subsidiary of Pfizer Corporation sells inventory to its parent at…

A: Solution Determine the realised and unrealised profits- Downstream P: (sellers) (s buyer) Cost on…

Q: Pint Co. owns 90% of the outstanding shares of Glass Inc. During 2022, Pint sold merchandise costing…

A: In financial accounting, Consolidation refers to the financial statement consolidation process in…

Q: Parent and its 70% owned Subsidiary report the following at December 31 of the current year: Parent…

A: General Journal  Debit   Credit  Gain on sale of Equipment         20,000   Retained…

Q: P CO owns a 90% interest in S Co, purchased at a time when the book values of S recorded assets and…

A: S sold merchandise to P for $40,000, but the cost to S was $32,000.Therefore, the profit on inter…

Q: Selected information from the separate and consolidated income statements of Poster Corporation and…

A: Intercompany sales are the sales made by the head office to their subsidiaries at a lower or equal…

Q: Acker Inc. bought 40% of Howell Co. on January 1, 2020 for $576,000. The equity method of accounting…

A: Unrealized profit, December 31, 2020 = [($20,000 / $75,000) x $15,000] x 40% = $1,600

Q: Comparative income statements of Sub Corporation for the calendar years 2019, 2020, and 2021 are as…

A: The objective of the question is to calculate Pub's income from Sub, Pub's net income, and the…

Q: On January 1, 2018, Potter Corporation purchased 80% of Draco Company’s outstanding shares for…

A: The question is multiple choice question Required  Choose the Correct Option.

Q: H has a 75% owned subsidiary S. During the year ending 31 December 2021 H sold inventory to  S for…

A: Lets understand the basics. When transaction of inventory happen between inter company then there is…

Q: On August 1, ABC Corporation acquired 80 percent of XYZ Corporation for P560,000. XYZ Corporation…

A: The goodwill is recorded as intangible assets on the balance sheet of the firm.

Q: Income statement information for the year 2020 for Perena Corporation and its 60% owned subsidiary,…

A: Inter company sales are the sales which take place between a parent and a subsidiary company.

Q: Pearl Limited acquired 100% of the issued capital of Silver Limited on 1 July 2010, for $90,000.…

A: The consolidated financial statement is prepared after the elimination of unrealized gain and…

Q: On December 31, 20X1, Parent Company purchased 80% of the common stock of Subsidiary Company for…

A: Determination and distribution of excess schedule (D & D) Compares the price paid with the…

Q: Scroll Inc., a wholly owned subsidiary of Pirn, Inc. began operations on January 1, 20x2. The…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: entory costing to Its 80%-owned subsidiary for P210,000. A portion of this was resold by the…

A: 1. 225,000 2. 4,658,000 3. 7,240,000 1. Record upon sale to subsidiary   Debit Credit Parent…

Q: net income attributable to the parent shareholders' equity

A: Definition: Non-Controlling Interest:  It is also called Minority interest where share holder owns…

Q: Comparative income statements of Sub Corporation for the calendar years 2019, 2020, and 2021 are as…

A: The objective of the question is to calculate Pub's income from Sub for the years 2019, 2020, and…

Q: Parent Co. owns 80% of Subsidiary Co. During 2021, Parent Co. sold goods with a 40% gross profit to…

A: Following is the answer to the given question

Q: Required

A: A company takeover the control over the another company when it buys more 50% shares of the company.…

Q: During 20x9, PP Corporation recorded sales of inventory costing P500,0000 to SS Company, its wholly…

A: Cost of sales is the amount at which the inventory was purchased by the entity. This amount is being…

Q: On 1/1/2021 P company acquired 90% of S company and 60% of R company. Accounts payable balance for P…

A: Here P company  is parent entity  of S company  and R company as it holds substantial  shares of…

Q: ow much is the non-controlling interest in profit of Subsidiary Company on December 31, 2019?

A: Step 1 Non controlling interest is minority holding stake which is  the portion of equity ownership…

Q: Income statement information for the year 2020 for Perena Corporation and its 60% owned subsidiary,…

A: Consolidated cost of sales is computed as follows

Q: Compute for the Profit attributable to Equity Holders of Parent or Controlling Interest in Net…

A: Consolidation is termed as merger of two or more entities where one company acquire more than 50% of…

Q: On January 1, 2023, Abbey acquires 90 percent of Benjamin's outstanding shares. Financial…

A: A consolidated financial statement is a report that merges the statements of a main company and its…

Q: fifth of this goods inventory. The following information pertains to PP and SS's sales for 20x9:…

A: P100,000 should be added to the Cost of Sales in PP Company.

Q: P acquired 70% of S in 20X8. The statements of profit or loss of the two companies for the year…

A: Consolidated Financial Statements: Consolidation statements are the financial statements prepared by…

Q: Comparative income statements of Sub Corporation for the calendar years 2019, 2020, and 2021 are as…

A: The process of combining the financial statements of a parent business and its subsidiaries to…

Q: K Company owns 100% of E Company. During the year, Kiana purchased inventory from Elyssa at a…

A: Consolidation: Consolidation refers to a process in which a parent company acquires all the assets,…