ADVANCED ACCOUNTING >CUSTOM<
14th Edition
ISBN: 9781265537012
Author: Hoyle
Publisher: MCG CUSTOM
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 4, Problem 1Q
To determine
Explain the meaning of term non-controlling interest.
Expert Solution & Answer
Answer to Problem 1Q
The interest which is other than that of parent company in any entity is termed as non-controlling interest.
Explanation of Solution
Non-controlling interest:
The interest which is other than that of parent company in any entity is termed as non-controlling interest. The non-controlling interest specifies the percentage of ownership which is not owned by the parent company.
For example, if the parent company own 70% in the subsidiary then the remaining 30% is the non-controlling interest.
Want to see more full solutions like this?
Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
O Company acquired a building valued at $195,000 for property tax purposes in exchange for 13,000 shares of $6 par common stock. The stock is selling for $14 per share. At what amount should the building be recorded? Help
I am looking for the correct answer to this general accounting question with appropriate explanations.
Morrison Industries estimates that annual manufacturing overhead
costs will be $1,200,000. The estimated annual operating activity bases
are direct labor cost of $650,000, direct labor hours of 60,000, and
machine hours of 120,000.
Compute the predetermined overhead rate for each activity base.
(Round answers to 2 decimal places, e.g., 10.50% or 10.50.)
=
. Overhead rate per direct labor cost-
. Overhead rate per direct labor hour = $
. Overhead rate per machine hour = $
%
Chapter 4 Solutions
ADVANCED ACCOUNTING >CUSTOM<
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- Please provide the accurate answer to this general accounting problem using valid techniques.arrow_forwardWhich of the following is an example of an operating activity?A) Issuing stockB) Borrowing moneyC) Purchasing equipmentD) Receiving cash from customersexplarrow_forwardHow can I solve this financial accounting problem using the appropriate financial process?arrow_forward
- Which of the following is an example of an operating activity?A) Issuing stockB) Borrowing moneyC) Purchasing equipmentD) Receiving cash from customersarrow_forwardSolutionarrow_forwardIf a company has total liabilities of $250,000 and total equity of $450,000, what is the total value of the company’s assets?A) $700,000B) $450,000C) $250,000D) $1,000,000arrow_forward
- Juno Textiles computes its predetermined overhead rate annually based on direct labor hours. At the beginning of the year, the company estimated 28,500 direct labor hours would be needed for the expected level of production. It also estimated $510,000 in fixed manufacturing overhead and $4 per direct labor hour in variable manufacturing overhead. Required: Compute Juno Textiles' predetermined overhead rate for the year.arrow_forwardThe matching principle in accounting requires that: A) Revenues and expenses be recognized in the period when cash is received or paidB) Revenues are recorded only when cash is collectedC) Expenses are matched with the revenues they help generateD) Financial statements must be prepared at the end of every quarterarrow_forwardNeed explanation.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
EBK CONTEMPORARY FINANCIAL MANAGEMENTFinanceISBN:9781337514835Author:MOYERPublisher:CENGAGE LEARNING - CONSIGNMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
Finance
ISBN:9781337514835
Author:MOYER
Publisher:CENGAGE LEARNING - CONSIGNMENT