hat is non controlling inte
Q: Oriole Company acquired an 80% interest in the common stock of Sunland Company for $1,540,400 on…
A: Non controlling interest % = Total interest - Controlling interest = 100% - 80% = 20%
Q: On January 1, 20x0, P Company purchased 80 percent of the outstanding shares of S Company by paying…
A: The consolidated retained earnings indicate the accumulated earnings of the parent company in the…
Q: a. Calculate the Net profit after tax of Al Musona LLC for the year ended OMR 1,365,000 OMR…
A: The financial statements are prepared to present the financial results of the operations of…
Q: Investor company acquired a 40% interest in an associate for P3,000,000. In the financial period…
A: Solution: Balance in investor's account of shares in associates = Cost of investment + share in…
Q: Problem 2: On December 31, 2021, Prompt Corporation has the following information available: Common…
A: Face value of common stock of Prompt corporation is $10 per share. Fair value of Prompt corporation…
Q: Kelly Lid acqured % interest n Boomer L on t January 2019 or $230 00 Ahat dat Boomer LMsty costed of…
A: Under the partial goodwill method, the goodwill is calculated using the non-controlling interest as…
Q: Reporting a Change to the Equity Method Assume an investor company acquires for $9,600 a 5%…
A: Note : Unrealized holding gain is also called as paper gain, as it is that gain which has not been…
Q: The following balances were taken from the records of Cullumber Company: Common stock (1/1/20 and…
A: A company's implied value is its projected or perceived value determined by several variables,…
Q: Reporting a Change from the Equity Method to Insignificant Influence Assume on August 1, 2022, an…
A: a. If the investor determined the investee’s stock has a readily determinable fair value:Record the…
Q: X co, purchased 100% of Y Common stock at 1/1/2020 for $ 300,000 ,on the same date the y co stock…
A: At the time of consolidation of parent company and subsidiary company, assets of parent company are…
Q: Reporting a Change to the Equity Method Assume an investor company acquires for $4,800 a 5%…
A: Golden Rules of Accounting: Account Debit Credit Personal Accounts The Receiver The…
Q: X co, purchased 75% of Y Common stock at 1/1/2020 for $ 300,000 ,on the same date the y co stock…
A: Non-controlling interest refers to the amount attributable to the minority shareholder of the…
Q: Prepare all consolidation adjusting entries and the consolidated financial statements for FBE Group…
A: To consolidate the financial statements of the FBE Group, we need to make several adjusting…
Q: How much is the Profit attributable to equity holders of parent (Parent’s Interests/Controlling…
A: Solution: Consolidated financial statements are the financial statements of a group consisting of…
Q: on 1/1/2019 X CO acquired 80% of Y common stock for $150,000 in the same day the y net assets was $…
A: Goodwill can be defined as a form of intangible asset which represents the difference between the…
Q: X co, purchased 100% of Y Common stock at 1/1/2020 for $ 300,000 ,on the same date the y co stock…
A: Consolidated financial statements are a set of financial statements prepared for a group company…
Q: X co, purchased 75% of Y Common stock at 1/1/2020 for $ 300,000 ,on the same date the y co stock was…
A: Goodwill on transaction of business combination is calculated by subtracting the fair value of…
Q: On January 1, 2021, OBDURATE Co. acquired 30% ownership interest in STUBBORN, Inc. for P200,000.…
A: Acquisition is a process where a company purchases most or all the shares of another company to have…
Q: What is a Capital Asset?, Holding Period, Calculation of Gain or Loss, Net Capital Losses (LO 4.1,…
A: Capital Assets:-All those assets which individuals held whether associated with business or…
Q: On aug 1, 2022 Lid Ltd purchased 1100 Agnus common shares for 44300 cash, with intetion of trading…
A: A financial asset is a part of financial instruments which includes Cash, Investment in the common…
Q: Entity A acquired 80% of the outstanding voting stock of Entity B for P4,500,000 on March 1, 2019…
A: The total cost that is incurred to acquire an asset is termed the acquisition cost. It is recorded…
Q: 3. On December 31, 2020, GHI Corporation holds 50,000 shares of Harry Company with market value of…
A: the answer is 112,000 Credit. we will transfer 112,000 gain from the unrealized gain or loss to the…
Q: Acquirer Company issued 80,000 new shares of its P10 par value ordinary shares and paid cash of…
A: Consolidation statements are prepared by the parent company if the parent company owes more than 50%…
Q: X co, purchased 100% of Y Common stock at 1/1/2020 for $ 300,000 ,on the same date the y co stock…
A: While preparing consolidated financial statements, the investment in subsidiary in parent's book…
Q: Question: On January 1, 2020, XXX Company acquired 500,000 shares at $ 50 per share of ZZZ Inc.…
A: When a company acquires between 20% to 50% of shares in an associate company and has significant…
Q: o acquire the net assets of three smaller companies, the company authorized the issuance of an…
A: Earnings per share represent the value of earnings available for each share outstanding over the…
Q: On January 1, 2021, Sledge had common stock of $180,000 and retained earnings of $320,000. During…
A: The equity method is a method used by a company to record the profits earned by its investment in…
Q: X co, purchased 100% of Y Common stock at 1/1/2020 for $ 300,000 ,on the same date the y co stock…
A: Consolidated financial statements are a set of financial statements prepared for a group company…
Q: 01) Jack acquired 80% of the voting equity shares of Jill. Jill had the following equity at the date…
A: When one company buys another, the intangible asset known as goodwill is acquired. It denotes a…
Q: X co, purchased 100% of Y Common stock at 1/1/2020 for $ 300,000 ,on the same date the y co stock…
A: When a company acquires 100% in voting stock of another company, then the acquiring company becomes…
Q: In 1/1/2024 Smart co. with owner equity (ordinary shares 1,500,0000, premium 2,500,000 and retained…
A: Detailed Journal Entries for Seesaw Co.'s Investment in MMI1. January 1, 2024:• Debit: Investment…
Q: On September 1, 2023, Pin acquires all of Skin's shares, by issuing 15,000 shares of common stock.…
A:
Q: Bell Limited ("Bell") owns 75% of the voting shares of Log Limited ("Log") and has control over Log.…
A: When a company holds 25% to 50% of the voting shares of another entity, the first mentioned company…
Q: X co, purchased 60% of Y Common stock at 1/1/2020 for $ 300,000 ,on the same date the y co stock was…
A: Consolidated financial statements are a set of financial statements prepared for a group company…
Q: ember 5, 2019, Soy Company, the 80%-owned subsidis of $1 a share on its 100,000 outstanding shares…
A: Journal entry A journal entry is a record of the business transactions within the accounting books…
Q: ordinary share capital and accumulated profits of P Company and S Company are as follows: S Company…
A: Consolidated Shareholders equity = P 11,991,000
Q: simple equity method to account for the investment
A: Simple equity method of accounting is used to record the interest in subsidiary if the parent holds…
Q: Carla Vista Company acquires 78 Dodd's 11%, 5 year. $1000 bonds on January 1, 2021 for $78000. The…
A: Solution: Bond investment is a debt investment that carries fixed rate of interest and face value at…
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- X co, purchased 80% of Y Common stock at 1/1/2020 for $ 300,000 ,on the same date the y co stock was $ 100,000 and retained earning $120,000 , at acquisition date the net assets of y co. book value was equal to fair value except ( inventory FV more than BV of $26,000) and (land its FV more than BV10,000 ) (Building its FV more than BV by $ 14,000 ) but ( equipment its FV less than B V by $10,000) if Y CO. reported $160,000 net income for 31/12/2020 and paid $ 60,000 dividends . Other information 1- the y inventory completely sold during 2020 2- the building useful life was 7 years , but equipment 5 years 3- there is no impairment for goodwill during 2020 what is the amount of income from subsidiary reported in parents co income statement on 31/12/2020 Select one: a. 122,800 b. 102,000 c. 107,200 d. 128,000X co, purchased 100% of Y Common stock at 1/1/2020 for $ 300,000 ,on the same date the y co stock was $ 100,000 and retained earning $120,000 , at acquisition date the net assets of y co. book value was equal to fair value except ( inventory FV more than BV of $26,000) and (land its FV more than BV10,000 ) (Building its FV more than BV by $ 14,000 ) but ( equipment its FV less than B V by $10,000) if Y CO. reported $160,000 net income for 31/12/2020 and paid $ 60,000 dividends . Other information 1- the y inventory completely sold during 2020 2- the building useful life was 7 years , but equipment 5 years 3- there is no impairment for goodwill during 2020 if Building balance in 31/12/2020 in parent co 50,000 & in subsidiary co 60,000 what is amount of Building in consolidated balance sheet in 31/12/2020 Select one: a. 122,000 b. 96,000 c. 110,000 d. 98,000X co, purchased 75% of Y Common stock at 1/1/2020 for $ 300,000 ,on the same date the Y co stock was $ 100,000 and retained earning $120,000 , at acquisition date the net assets of Y co. book value was equal to fair value except ( inventory FV more than BV of $26,000) and (land its FV more than BV10,000 ) (Building its FV more than BV by $ 14,000 ) but ( equipment its FV less than B V by $10,000) if Y CO. reported $160,000 net income for 31/12/2020 and paid $ 60,000 dividends . Other information 1- the y inventory completely sold during 2020 2- the building useful life was 7 years , but equipment 5 years 3- there is no impairment for goodwill during 2020 What is the amount of NCI in net assets in 1/1/2020 Select one: a. 100,000 b. 55,000 c. 80,000 d. 75,000
- on 1/1/2019 X CO acquired 80% of Y common stock for $150,000 in the same day the Y net assets was $ 140,000 ,in the same date the fair value of assets and liabilities were equal .year ended 31/12/2019 Y reported income $50,000 , declared dividend $30,000 , X using equity methods what is non- controlling interest balance on 1/1/2019 Select one: a. 37,500 b. 10,000 c. 47,500 d. 50,000on 1/1/2019 X CO acquired 80% of Y common stock for $150,000 in the same day the Y net assets was $ 140,000 , in the same date the fair value of assets and liabilities were equal .year ended 31/12/2019 Y reported income $50,000 , declared dividend $30,000 , X using equity methods what is non- controlling interest balance on 1/1/2019 Select one: a. 37,500 b. 47,500 c. 50,000 d. 10,000 Next page ere to search hp 近5. The statement of financial position of Super LLC and Star LLC at 31st Dec 2019 are as follows, Additional Information,1. Super LLC acquired 80% of shares on 31st Dec 2016 for OMR 20,0002. On 31st Dec 2016, the retained earnings of Star LLC was OMR 3,000.3. On 31st Dec 2016, fair value of Star company's non-current assets was OMR 2,000 more than theirbook value.4. This revaluation has not been reflected in the books of Star LLC.5. Star LLC has issued no shares since being acquired by Super LLC.6. Goodwill arising on consolidation has suffered an impairment loss of 30% since acquisition.7. (Prepare a consolidated/ Group statement of financial position as at 31 March 2019.)
- QUESTION On December 31, 2020, P Company purchased a controlling interest in S. Company for $1.060,000. The consolidated balance sheet on December 31, 2020 reported noncontrolling interest in S Company of $265,000. On the date of acquisition, the stockholders' equity section of S Company's balance sheet was as follows: Common stock Other contributed capital Retained earnings Total Noncontrolling Interest Percentage is: $520,000 $380,000 Required: 1. Compute the noncontrolling interest percentage on December 31, 2020. Otsek S $280,000 $1,180,000 2. Prepare the investment elimination entry made to prepare a consolidated balance sheet workpaper. Any difference between book value and the value implied by the purchase price relates to subsidiary PP&E. Debit Credit 7 pointson 1/1/2019 X CO acquired 80% of Y common stock for $150,000 in the same day the y net assets was $ 140,000 , in the same date the fair value of assets and liabilities were equal .year ended 31/12/2019 y reported income $50,000 , declared dividend $30,000 , X using equity methods what is good will balance on 1/1/2019 Select one: a. 10,000 b. 47,500 c. 37,500 d. 50,000 Previous page Next pag W to search hp22-On January, 2019, ABC Company acquired 30% percent of the voting shares of XYZ Company for OMR 300,000. The investment gives ABC, significant influence over the affairs of XYZ Company. During the year ending December 31, 2019, XYZ Company earned OMR 100,000 Net Income and paid dividend of OMR 70,000. What is the journal entry in the books of ABC Company for the share in the net income under equity method? a. Debit Cash Account OMR 21,000; Credit Investment Income Account OMR 21,000 b. Debit Investment Account OMR 30,000; Credit Investment Income Account OMR 30,000 c. Debit Cash Account OMR 30,000; Credit Investment Account OMR 30,000 d. Debit Investment Account OMR 21,000; Credit Dividend Income Account OMR 21,000 Clear my choicevvv
- A owns 80% of B & 40% of C, purchased when B's reserve was £6,000, & C's £1,000. B's net assets at acquisition were £25,000. Balance Sheets at 31-Dec-21 Investment in B Investment in C Other Net Assets ₤1NV Shares Reserves Profit/Loss Required: For the ABC group at Ye-Dec-21 prepare a) Group Balance Sheet, A Ltd B Ltd C Ltd 24,000 13,000 34,000 29,000 16,000 71,000 29,000 16,000 40,000 15,000 10,000 25,000 10,000 4,000 6,000 4,000 2,000 71,000 29,000 16,000 b) Group Income Statement, and c) Explain subsidiary and associate accounting treatments in group accounting. For group and parent interests calculate d) Return on Equity, and e) Earnings per ShareIUuwvie t0 Accountancy Company is: a. P393,000 b. P376,500 c. P390,000 d. P406,500 11. YSL Corporation acquired 80% of the outstanding ordinary shares of GBX Company on June 1, 2022 for P586,250. GBX Company's shareholder's equity components at the end of this year were as follows: Ordinary shares, P100 par, P250,000; Share premium, P112,500 and Retained earnings, P222,5000. NCI is measured at fair value. All the assets of GBX were fairly valued, except for inventories, which is overstated by P11,000 and equipment, which is understated by P15,000. Remaining useful life of equipment is 4 years. Both companies use straight line method for depreciation and amortization. Shareholder's equity of YSL on January 1, 2022 is composed of Ordinary shares, P750,000; Share premium, P175,000 and Retained earnings, P525,000. Fair value of NCI on the date of acquisition is P117,500. Goodwill, if any, should be written down by P14,225 at year end. Net income for the first year of parent and subsidiary…On September 1, 2023, Pin acquires all of Skin's shares, by issuing 15,000 shares of common stock. The following information is related to Pin & Skin at December 31, 2023. 2023 a. $9.0 O b. $8.0 c. $10.0 @d. $7.0 x Pin $420,000 Skin $150,000 Net Income evenly distributed during the year 60.000 20,000 # of outstanding shares Calculate the consolidated earnings per share (EPS) for the year ended December 31, 2023.
