ADVANCED ACCOUNTING
ADVANCED ACCOUNTING
4th Edition
ISBN: 9781618533678
Author: HOPKINS
Question
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Chapter 5, Problem 46E

a.

To determine

Prepare the journal entry related to the $35 million net income attributable to non-controlling interest and also mention that it will be recorded in the books of the parent o subsidiary and state that it will be equal to the subsidiary net income multiplied by the proportionate ownership of the non-controlling interest.

b.

To determine

Detail about the level of Company, CC’s ownership interest in CCBA.

c.

To determine

Describe the most likely transaction resulting in "Deconsolidation of" $(157) some

entities do.

d.

To determine

Mention the category in which ending balance of $1,905 million reported in the financial

statements of company CC.

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