Determine the amounts that Company B should report in its year-end consolidated financial statements for non-controlling interest in subsidiary income, non-controlling interest, Company C’s machine (net of accumulated depreciation ), and the process trade secret.

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Answer 1

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Chapter 4, Problem 27P

To determine

Determine the amounts that Company B should report in its year-end consolidated financial statements for non-controlling interest in subsidiary income, non-controlling interest, Company C’s machine (net of accumulated depreciation), and the process trade secret.

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If an oil rig was built in the sea, the cost to be capitalised is likely to include the cost of constructing the asset and the present value of the cost of dismantling it. If the asset cost $10 million to construct, and would cost $4 million to remove in 20 years, then the present value of this dismantling cost must be calculated. If interest rates were 5%, the present value of the dismantling costs are calculated as follows: $4 million x 1/1.0520 = $1,507,558 The total to be capitalised would be $10 million + $1,507,558 = $11,507,558. This would be depreciated over 20 years, so 11,507,558 x 1/20 = $575,378 per year. Each year, the liability would be increased by the interest rate of 5%. In year 1 this would mean the liability increases by $75,378 (making the year end liability $1,582,936). This increase is taken to the finance costs in the statement of profit or loss.

Answer 2

Question

Chapter 4, Problem 27P

To determine

Determine the amounts that Company B should report in its year-end consolidated financial statements for non-controlling interest in subsidiary income, non-controlling interest, Company C’s machine (net of accumulated depreciation), and the process trade secret.

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Answer 3

Question

Chapter 4, Problem 27P

To determine

Determine the amounts that Company B should report in its year-end consolidated financial statements for non-controlling interest in subsidiary income, non-controlling interest, Company C’s machine (net of accumulated depreciation), and the process trade secret.

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Answer 4

Question

Chapter 4, Problem 27P

To determine

Determine the amounts that Company B should report in its year-end consolidated financial statements for non-controlling interest in subsidiary income, non-controlling interest, Company C’s machine (net of accumulated depreciation), and the process trade secret.

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Answer 5

Chapter 4, Problem 27P

To determine

Determine the amounts that Company B should report in its year-end consolidated financial statements for non-controlling interest in subsidiary income, non-controlling interest, Company C’s machine (net of accumulated depreciation), and the process trade secret.

Answer 6

Chapter 4, Problem 27P

To determine

Determine the amounts that Company B should report in its year-end consolidated financial statements for non-controlling interest in subsidiary income, non-controlling interest, Company C’s machine (net of accumulated depreciation), and the process trade secret.

Answer 7

Chapter 4, Problem 27P

To determine

Determine the amounts that Company B should report in its year-end consolidated financial statements for non-controlling interest in subsidiary income, non-controlling interest, Company C’s machine (net of accumulated depreciation), and the process trade secret.

Answer 8

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Answer 9

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Answer 11

Ch. 4 - Prob. 1Q Ch. 4 - Atwater Company acquires 80 percent of the...Ch. 4 - What is a control premium and how does it affect...Ch. 4 - Prob. 4Q Ch. 4 - How is the noncontrolling interest in a subsidiary...Ch. 4 - Prob. 6Q Ch. 4 - Prob. 7Q Ch. 4 - Prob. 8Q Ch. 4 - Prob. 9Q Ch. 4 - Prob. 10Q

Determine the amounts that Company B should report in its year-end consolidated financial statements for non-controlling interest in subsidiary income, non-controlling interest, Company C’s machine (net of accumulated depreciation ), and the process trade secret.

Solution Summary: The author enumerates the amounts that Company B should report in its year-end consolidated financial statements.

Determine the amounts that Company B should report in its year-end consolidated financial statements for non-controlling interest in subsidiary income, non-controlling interest, Company C’s machine (net of accumulated depreciation), and the process trade secret.

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