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3 years ago

When preparing a consolidated balance sheet, the noncontrolling interest amount is:

Business

1 answer:

Margarita [4]3 years ago

5 0

Answer:C - Generally presented as a part of stockholders' equity

Explanation: The non controlling interest amount is generally presented in the consolidated financial statement as part of stakeholders equity. The non controlling interest is also known as the minority interest. The non controlling interest arises where the parent company has less than 100% ownership in the business.

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How much does it cost to convert a shed into a house?

Firdavs [7]

It take a lot because a house is bigger the a shed

7 0

3 years ago

Accrued Product Warranty Fosters Manufacturing Co. warrants its products for one year. The estimated product warranty is 4% of s

Finger [1]

Answer:

Date Account Title Debit Credit

Jan. 31 Product Warranty Expense $15,160

Product Warranty Payable $15,160

Working:

Product warranty expense = Amount of sales for January * Estimated product warranty

= 379,000 * 4%

= $15,160

Date Account Title Debit Credit

Jan. 31 Product Warranty Payable $355

Supplies $250

Wages payable $105

The costs of the warranty will be taken from the liability account for warranties because the warranty payable account represents that the company owes warranty repairs which the customer just came to collect.

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3 years ago

The accounting records for Portland Products report the following manufacturing costs for the past year. Direct materials $ 390,

Novay_Z [31]

Answer:

Results are below.

Explanation:

First, we need to calculate the unitary costs:

Direct materials= 390,000/180,000= $2.17

Direct labor= 261,000/180,000= $1.45

Variable overhead= 235,000/180,000= $1.31

Now, we determine the new costs:

Direct materials= 2.17*1.2= $2.604

Direct labor= 1.45*1.04= $1.508

Fixed overhead= 851,000*1.1= $936,100

Total cost for 144,000 units:

Total cost= 144,000*(2,604 + 1,508 + 1.31) + 936,100

Total cost= 144,000*5.422 + 936,100

Total cost= $1,716,868

Finally, the unitary cos for both years:

Last year= 2.17 + 1.45 + 1.31= $4.93

This year= $5.422

7 0

3 years ago

Prepare the journal entry for the issuance of these bonds. Assume the bonds are issued for cash on January 1, 2017. Garcia Compa

algol13

Answer:

Dr Cash $332,775

Cr Bonds payable $290,000

Cr Premium on bonds payable $42,775

Explanation:

Preparation of the journal entry to record the issuance of these bonds. Assume the bonds are issued for cash on January 1, 2017

Based on the information given the journal entry to record the issuance of these bonds will be:

Dr Cash ($290000/100*114.75) $332,775

Cr Bonds payable $290,000

Cr Premium on bonds payable ($332,775-$290,000) $42,775

(To record issuance of bonds)

3 0

2 years ago

The manufacturing overhead budget of Inch Corporation is based on budgeted direct labor-hours. The September direct labor budget

Lubov Fominskaja [6]

Answer:

$70,840; $18.50

Explanation:

Variable manufacturing overhead:

= Budgeted direct labor-hours × Variable overhead rate

= 4,400 × $5

= $22,000

Total manufacturing overhead:

= Variable manufacturing overhead + Fixed manufacturing overhead

= $22,000 + $59,400

= $81,400

(a) cash disbursement for manufacturing overhead for September:

= Total manufacturing overhead - Depreciation

= $81,400 - $10,560

= $70,840

(b) Predetermined overhead rate for September:

= Total manufacturing overhead ÷ Budgeted direct labor-hours

= $81,400 ÷ 4,400

= $18.50

7 0

3 years ago