The consolidation method of accounting is used when ownership is? a) Less than 20% b) Between 20% and 50% c) More than 50% d) Exactly 50%
Q: Treasury Stock is?
A: Option a"new stock issued by the company."This is incorrect because treasury stock isn't newly…
Q: Affect
A: Explanation of Accounting Estimates: Accounting estimates are approximations of financial statement…
Q: 6 Bichette Company provided the following information: Budgeted input 12,000 kilograms…
A: Step 1: Identify the FormulaThe partial productivity ratio is calculated as the ratio of actual…
Q: What dollar amount of the purchase price will be allocated to the building account on this…
A: Step 1:This question is related to basket purchase where two or more assets purchased at a single…
Q: Yang Corporation starts a foreign subsidiary on January 1 by investing 44,000 rand. Yang owns all of…
A: Initial Investment (Beginning Equity) Translation:Investment at January 1: 44,000 randExchange rate…
Q: A delivery service recorded beginning petty cash of $500, received reimbursements of $1,200, and…
A: Calculation of Cash over or Short amount:(Beginning petty cash balance + reimbursement received -…
Q: Matthew, Incorporated, owns 30 percent of the outstanding stock of Lindman Company and has the…
A: Under the equity method, Matthew, Incorporated, will recognize its share of Lindman's net income,…
Q: Need answer
A: Explanation of Predetermined Overhead Rate: The predetermined overhead rate is calculated by…
Q: Financial Accounting
A: Step 1: Define Realized GainA realized gain is an amount recognized on a transaction when the sales…
Q: Need answer
A: Step 1: Define Mixed costA mixed cost is one that has both a variable and a fixed component. As a…
Q: What is the net profit
A: Explanation of Direct Materials Used: Direct materials used represents the actual value of raw…
Q: A government grant related to should be
A: Explanation of Government Grant: A government grant is assistance provided by the government in the…
Q: Detailed answer with explanation
A: Detailed Explanation of the Fair Value of a Forward Contract at InceptionA forward contract is a…
Q: QUESTION 10 The following balances were recorded in the books of Sofea on 1 March 2015. Motor…
A: Sale of a Motor Vehicle on 31 May 2015Cost of Motor Vehicle Sold: $16,000Accumulated Depreciation:…
Q: Juan Diego began the year with a tax basis in his partnership interest of $51,400. During the year,…
A: To determine the carryover amounts and their character for Juan Diego's $1231 losses and short-term…
Q: Revenues are normally recognized when the company transfers promised goods or services in the amount…
A: Amount of revenue earned in September: ActivityExplanationa.No revenue earned in September. The…
Q: On a particular date, FedEx has a stock price of $89.27 and an EPS of $7.11. Its competitor, UPS,…
A: Step 1: Compute the price-to-earnings (P/E) ratio of FedEx.Price Earnings Ratio (P/E) Ratio is a…
Q: Need answer the accounting question
A: Step 1:- Introduction to the Level 1 and Level 2 QuotesLevel 1 stock quotes are real-time quotes…
Q: help
A: break down the solution step by step for both parts of the question. a. Identify the Upstream and…
Q: The following partially completed T-accounts summarize transactions for Faaberg Corporation during…
A: Detailed explanation:Manufacturing Overhead T account : The manufacturing overhead has $ 9950 total…
Q: Juan Diego began the year with a tax basis in his partnership interest of $51,400. During the year,…
A: §1231 Losses Deduction:Thus, the entire amount of $71,960 is deductible as an ordinary loss, since…
Q: 8 marks accounting
A: Explanation of Fixed Costs:Fixed costs are expenses that remain constant regardless of the level of…
Q: On January 1, 2023, Oriole Corp. lent $44,000 to its CEO, interest-free. The loan is repayable in…
A: The present value (PV) is the current worth of a future sum of money or stream of cash flows given a…
Q: Need answer of this question
A: Explanation of Net Income: Net income, also known as net profit or earnings, is the total profit of…
Q: What us the weighted average cost per unit?
A: Explanation of Beginning InventoryBeginning inventory refers to the stock of goods a company has on…
Q: Ownership
A: Explanation of Consolidation Method: The consolidation method is an accounting technique where a…
Q: General Accounting
A: Step 1: Define DepreciationDepreciation is a non-cash and tax-deductible expense of the business. It…
Q: Hello tutor provide answer these general accounting question
A: Step 1: Define Free Cash FlowTo compute the free cash flow, the operating cash flow is adjusted for…
Q: BC 266: EXCEL PROBLEM PR 17-2A:VERTICAL ANALYSIS For 2016, Indigo Corp. initiated a sales…
A: Vertical analysis is a method of financial statement analysis in which each line item is listed as a…
Q: ?
A: ReferencesBrown, L., & Green, M. (2022). Corporate financial resilience in uncertain times.…
Q: Job 910
A: Explanation of Direct Materials: Direct materials refer to the raw materials that are directly used…
Q: Ans
A: Explanation of Residual Value:Residual value, also known as salvage value, refers to the estimated…
Q: Question: In calculating diluted EPS, convertible preferred shares are? a) Always included b) Never…
A: The question pertains to Diluted EPS. EPS or Earnings per Share is a measure of a company's…
Q: General Accounting
A: Step 1: Define Absorption and Variable Costing MethodsIn accounting, absorption costing and variable…
Q: Calculate the number
A: Step 1: Given that,Beginning inventory of Sunshine Electronics = 300 printers.They purchased 500…
Q: P Company purchased 80% of the outstanding common stock of H Company on January 2, 2020, for…
A: Consolidated Assets include;Current Assets:P Current Assets+H Current Assets−Intercompany…
Q: Ivanhoe Corp. sold property in exchange for a six-year note that has a maturity value of $34,615 and…
A: Here's a detailed explanation for each part of the journal entry:Notes Receivable (Debit):Amount:…
Q: Question: Net sales are $3,000,000, beginning total, assets are $1,400,000. and the asset turnover…
A: Explanation of Asset Turnover: Asset turnover is a financial ratio that measures how efficiently a…
Q: The total cost that would be recorded on the job cost sheet for job 910 would be__.
A: Explanation of Direct MaterialsDirect materials refer to the raw materials and components that are…
Q: Solve this accounting problem
A: Step 1: Define Return On EquityReturn on equity is often used to gauge the overall efficiency of a…
Q: Zone
A: To calculate the total purchase cost for 250 units based on the given pricing tiers, we need to…
Q: Solve these one
A: Step 1: Define Property, Plant & EquipmentThe Property, plant, and equipment are the fixed asset…
Q: Give me accurate steps
A: Step 1: The Flow of Manufacturing CostsIn a manufacturing company, the cost flow involves several…
Q: Components of Internal Controls
A: The five internal control components offer an organized method for making sure a business runs…
Q: Answer
A: Explanation of Petty Cash Fund: The petty cash fund is a small reserve of cash kept on hand by a…
Q: Want all Clarification
A: Foreign Currency Translation Process, Risks, and Mitigation 1. Translation Process for Financial…
Q: The following are comparative balance sheets for concord company
A: Increase in Accounts Receivable: 2022 - 2021 = $84,500 - $79,900 = $4,600 (deducted as it's an…
Q: Question: 5-13 PLAST Enterprises started the period with 65 units in beginning inventory that cost…
A: Explanation of Beginning Inventory: Beginning inventory represents the quantity and cost of goods a…
Q: Give true answer this accounting question please do fast
A: Step 1: Define Activity-Based Costing (ABC) MethodIn the context of accounting, the indirect costs…
Q: Financial Accounting
A: Step 1: Identify variable and fixed costs from the provided data.Step 2: Calculate variable cost per…
The consolidation method of accounting
Step by step
Solved in 2 steps
- OwnershipAssets Cash Receivables (net) Inventory PP & E (net) Patents&Licenses Goodwill Total assets Liabilities & Equity Accounts payable Short term debt Long term debt Preferred stock Common Equity Total Liabilities + Equity New Chip Corp Balance Sheet at 12/31/22 ($ in Millions) 31 45 64 215 28 19 402 53 19 179 23 128 402Do not use negative signs with your answers below. Reconciliation of Cost to Equity Method Parent's pre-consolidation net income 401000 v Dividend Income 81000 v P% x Net income of subsidiary P% x AAP amortization 0 x Net income attributable to controlling interest $ 0 x b. Prepare the consolidated income statement for the current year. Do not use negative signs with your answers below. Consolidated Income Statement Sales $ 12200000 v Cost of goods sold 8120000 v Gross profit 4080000 v Operating expenses 0 x Net income Net income attributable to noncontrolling interests 0 x Net income 0 x
- Need typed answer .Please give answer within 30 minutesIn Bell Group's consolidation worksheet, the opening balance of retained earnings under 'group' column shows a balance of 70000. If there is a debit entry of 16000 in the NCI column, the opening balance of retained earnings under 'parent' column could be: A. 86000 B. 54000 C. 70000 D. 16000 Please show entries or details to explain.On January 1, 2012, Aspen Company acquired 80 percent of Birch Company's outstanding voting stock for $438,000. Birch reported a $457,500 book value and the fair value of the noncontrolling interest was $109,500 on that date. Also, on January 1, 2013, Birch acquired 80 percent of Cedar Company for $200,000 when Cedar had a $205,000 book value and the 20 percent noncontrolling interest was valued at $50,000. In each acquisition, the subsidiary's excess acquisition-date fair over book value was assigned to a trade name with a 30-year life. These companies report the following financial information. Investment income figures are not included. Sales: Aspen Company Birch Company Cedar Company Expenses: Aspen Company Birch Company Cedar Company Dividends declared: Aspen Company Birch Company Cedar Company 2012 $ 632,500 261,250 Not available $ 542,500 200,000 Not available $15,000 8,000 Not available 2013 2014 $747,500 327,250 $822,500 416,900 185,900 292,600 $522,500 $750,000 261,000…
- Please Solve with Explanation and Do not give image formatWhat amount will be shown on the July 1, 20X1, consolidated balance sheet for the following: Total equity Now assume this transaction had been completed prior to the elimination of poolings of interest, and that the pooling method had been used to record the acquisition. Redo requirements 1 and 2: Total assets Total liabilities Total equityDescribe how, despite the fact they include different accounts, conceptually, the [C] entry under the equity method of pre-consolidation bookkeeping is the same as the [C] entry under the cost method of pre-consolidation bookkeeping.