Consider the following group structure: Fred Ltd holds 80.0% in Barney Ltd Barney Ltd holds 80.0% in Betty Ltd Betty Ltd holds 55.0% in BamBam Ltd Betty Ltd holds 50.0% in Pebbles Ltd Pebbles Ltd holds 50.0% in Dino Ltd. Required: Determine the INCI of Dino Ltd in the group structure.

Consider the following group structure: Fred Ltd holds 80.0% in Barney Ltd Barney Ltd holds 80.0% in Betty Ltd Betty Ltd holds 55.0% in BamBam Ltd Betty Ltd holds 50.0% in Pebbles Ltd Pebbles Ltd holds 50.0% in Dino Ltd. Required: Determine the INCI of Dino Ltd in the group structure.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

How should preferred stock of a subsidiary be shown in a consolidated balance sheet in each case? a. If it is held 100 percent by the parent. b. If it is held 50 percent by the parent and 50 percent by outside interests c. If it is held 100 percent by outside interests.
Pizza Corporation acquired 75 percent of Slice Corporation's voting common stock on January 1, 20X4, for $354,000, when the fair value of its net identifiable assets was $470,000 and the fair value of the noncontrolling interest was $116,000. Slice reported common stock outstanding of $140,000 and retained earnings of $230,000. The excess of fair value over book value of Slice's net assets was attributed to amortizable assets with a remaining life of 10 years. On December 31, 20X4, Slice sold a building to Pizza ar recorded a gain of $22,000. Income assigned to the noncontrolling shareholders in the 20X4 consolidated income statement was $17,500. Required: a. Compute the amount of net income Slice reported for 20X4. Reported income of Slice b. Compute the amount reported as consolidated net income if Pizza reported operating income of $238,000 for 20X4. Consolidated net income
The Daddy Group has the following group structure:Daddy Ltd80% 80% 27%Son 1 Ltd Son 2 Ltd Son 3 Ltd70% 55%30 %Son 4 Ltd Son 5 Ltd10% 5% 45% 95%Son 6 Ltd Son 7 Ltd(a) Reproduce and complete the following controlling and non-controlling interest table. Show your calculations.(b) What percentage of the voting in Son 7 Ltd will be controlled by the Daddy Ltd? (c) What percentage of the dividend declared by Son 7 Ltd will be received by the Daddy Ltd? Daddy Interest
The Daddy Group has the following group structure:Daddy Ltd80% 80%27%Son 1 Ltd Son 2 Ltd Son 3 Ltd70% 55%30 %Son 4 Ltd Son 5 Ltd10% 5% 45% 95%Son 6 Ltd Son 7 Ltd(a) Reproduce and complete the following controlling and non-controlling interest table. Show your calculations.(b) What percentage of the voting in Son 7 Ltd will be controlled by the Daddy Ltd?(c) What percentage of the dividend declared by Son 7 Ltd will be received by the Daddy Ltd?Daddy Interest Son 1 Son 4 Son 2 Son 5 Son 7 Son 6 Son 3Direct %Indirect %Non-controllingInterestDirect %Indirect %Tota
Consider the following group structure: Fred Ltd holds 70.0% in Barney Ltd Barney Ltd holds 80.0% in Betty Ltd Betty Ltd holds 55.0% in BamBam Ltd Betty Ltd holds 65.0% in Pebbles Ltd Pebbles Ltd holds 60.0% in Dino Ltd. Required: Determine the indirect parent interest in Betty Ltd held by Fred Ltd. (Do not include % sign in your answer, round to two decimal places.) * explain in full detail.
In a joint arrangement, which of the following establishes joint control by the parties? a. mutual sharing of control b. ownership interest of more than 20% c. contractual arrangement d. stock certificate
When a subsidiary has preferred stock that is convertible into subsidiary common stock, the parent's equity in the subsidiary's diluted earnings is calculated by the number of Select one: a. subsidiary common shares held by the parent times the subsidiary's diluted EPS figure. b. parent shares into which the subsidiary's dilutive securities can be converted times the parent's basic EPS figure. c. parent shares into which the subsidiary's dilutive securities can be converted times the subsidiary's basic EPS figure. d.subsidiary shares into which the subsidiary's dilutive securities can be converted times the subsidiary's basic EPS figure.
03) Which of the following journal entry formats is appropriate under the equity method of accounting to record the parent company's share of a subsidiary's dividend declaration? Select one: 1 O b. ll Oc. III Od. IV 1. Intercompany Dividends Receivables Investment in Subsidiary Common Stock Cash Intercompany Dividend Revenue Intercompany Dividends Receivable intercompany Dividends Revenue Investment on Subsidiary Common Stock Intercompany Dividend Revenue
The holdings on the VE Commercial Vehicles with 45, 6% and the cellcentric with 50% are classified as joint ventures within the Volvo Group. Please explain the difference between joint venture and joint operations. Is there a different accounting treatment for consolidation?
Which of the following scenario not demonstrate significant influence? Yijin Co. who owns 30% of the convertible preference shares of HeeDo Co. GHI Co. who owns 15% of the voting shares of JKL Co. ABC Co. who owns 30% of the voting shares of DEF Co. a. I only b. II only c. III only d. I and II
For the year ended December 31, the following results were given: Dividend Paid Net Income Parent Company P15,000 P30,200Subsidiary Company 4,000 9,400 Using the proportionate basis or partial goodwill method, compute the non-controlling interest on December 31.A. P 0 C. P 610B. P 540 D. P 940 Note: Just use the information provided to arrive at the answer.
Grow Company declared and distributed a 15% share dividend with fair value of P2,500,000 and par value of P2,000,000 and a 30% share dividend with a fair value of P5,000,000 and par value of P3,500,000. What amount of share premium should be recognized by Grow?