Preferred dividends: are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest. Requirement 1 the C’s contribution to consolidated net income for 20X2.

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Answer 1

Question

Chapter 9, Problem 9.7E

a

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 1

the C’s contribution to consolidated net income for 20X2.

b

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 1

the income assigned to non-controlling interest for 20X2.

c

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 3

the portion of C’s retained earnings assigned to its preferred stock on January 1, 20X2.

d

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 4

the computation of book value assigned to common shareholders on January 1, 20X2.

e

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 5

the amount to be reported as non-controlling interest in the year January 1,20X2

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Baker's Market began the current month with inventory costing $35,250, then purchased additional inventory at a cost of $78,400. The perpetual inventory system indicates that inventory costing $82,500 was sold during the month for $88,250. An inventory count at month-end shows that inventory costing $29,000 is actually on hand. What amount of shrinkage occurred during the month? a) $350 b) $1,150 c) $1,750 d) $2,150

Answer 2

Question

Chapter 9, Problem 9.7E

a

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 1

the C’s contribution to consolidated net income for 20X2.

b

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 1

the income assigned to non-controlling interest for 20X2.

c

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 3

the portion of C’s retained earnings assigned to its preferred stock on January 1, 20X2.

d

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 4

the computation of book value assigned to common shareholders on January 1, 20X2.

e

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 5

the amount to be reported as non-controlling interest in the year January 1,20X2

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Answer 3

Question

Chapter 9, Problem 9.7E

a

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 1

the C’s contribution to consolidated net income for 20X2.

b

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 1

the income assigned to non-controlling interest for 20X2.

c

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 3

the portion of C’s retained earnings assigned to its preferred stock on January 1, 20X2.

d

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 4

the computation of book value assigned to common shareholders on January 1, 20X2.

e

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 5

the amount to be reported as non-controlling interest in the year January 1,20X2

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Answer 4

Question

Chapter 9, Problem 9.7E

a

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 1

the C’s contribution to consolidated net income for 20X2.

b

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 1

the income assigned to non-controlling interest for 20X2.

c

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 3

the portion of C’s retained earnings assigned to its preferred stock on January 1, 20X2.

d

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 4

the computation of book value assigned to common shareholders on January 1, 20X2.

e

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 5

the amount to be reported as non-controlling interest in the year January 1,20X2

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Answer 5

Chapter 9, Problem 9.7E

a

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 1

the C’s contribution to consolidated net income for 20X2.

b

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 1

the income assigned to non-controlling interest for 20X2.

c

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 3

the portion of C’s retained earnings assigned to its preferred stock on January 1, 20X2.

d

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 4

the computation of book value assigned to common shareholders on January 1, 20X2.

e

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 5

the amount to be reported as non-controlling interest in the year January 1,20X2

Answer 6

Chapter 9, Problem 9.7E

a

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 1

the C’s contribution to consolidated net income for 20X2.

Answer 7

Chapter 9, Problem 9.7E

a

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 1

the C’s contribution to consolidated net income for 20X2.

Answer 8

b

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 1

the income assigned to non-controlling interest for 20X2.

Answer 9

b

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 1

the income assigned to non-controlling interest for 20X2.

Answer 10

c

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 3

the portion of C’s retained earnings assigned to its preferred stock on January 1, 20X2.

Answer 11

c

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 3

the portion of C’s retained earnings assigned to its preferred stock on January 1, 20X2.

Answer 12

d

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 4

the computation of book value assigned to common shareholders on January 1, 20X2.

Answer 13

d

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 4

the computation of book value assigned to common shareholders on January 1, 20X2.

Answer 14

e

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 5

the amount to be reported as non-controlling interest in the year January 1,20X2

Answer 15

e

To determine

Preferred dividends:are the dividends paid on preferred stock, although consolidated net income is unaffected by preferred dividends, the amount allocated to the controlling interest is affected because the income allocated to the non-controlling interest is deducted to calculate controlling interest.

Requirement 5

the amount to be reported as non-controlling interest in the year January 1,20X2

Answer 16

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Answer 17

Expert Solution & Answer

Answer 18

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Answer 19

Ch. 9 - Prob. 9.1Q Ch. 9 - Prob. 9.2Q Ch. 9 - Prob. 9.3Q Ch. 9 - Prob. 9.4Q Ch. 9 - Prob. 9.5Q Ch. 9 - Prob. 9.6Q Ch. 9 - Prob. 9.7Q Ch. 9 - Prob. 9.8Q Ch. 9 - Prob. 9.9Q Ch. 9 - Prob. 9.10Q

Solution Summary: The author explains that the effect of purchase of preferred stock is eliminated and no dividends paid during the year and retained earnings become the part of Investment in C common stock.

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Chapter 9 Solutions