Answer:
The attached file has the answer required.
Interest on notes payable will be a liability as it is accrued. It will still be accounted from the expenses however.
Services is a revenue stream that was not recorded so it will go to Accounts Receivable and Revenue.
Salaries unpaid will become a liability and an expense in the income statement.
True, because you don't everyone good at the same thing. For example, if you want to make a car, you don't want everyone to just know how to build doors.
More information is needed to completely answer your question
Answer: A - peak
Explanation:
Just took the test the other answer is wrong!!!
Answer:
net income attributable to the non controlling interest is $40800
Explanation:
Given data
Race sold = $450000
cost = $330000
owned = 15%
net income = $204000
Race net income = $806000
to find out
net income attributable to the non controlling interest
solution
we find the non controlling interest
so we apply formula for non controlling interest that is
non controlling interest of income = net income × (100% - 80%)
put here value of net income
non controlling interest of income = net income × (20%)
non controlling interest of income = 204000 × (20%)
non controlling interest of income = 40800
so net income attributable to the non controlling interest is $40800
