1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Harman [31]
3 years ago
10

Scissor Corporation holds assets with a fair value of $150,000 and a book value of $125,000 and liabilities with a book value an

d fair value of $50,000. What balance will be assigned to the noncontrolling interest in the consolidated balance sheet if Paper Company pays $90,000 to acquire 75 percent ownership in Scissor and goodwill of $20,000 is reported
Business
1 answer:
slava [35]3 years ago
3 0

Answer:

$30,000

Explanation:

According to the scenario, computation of the given data are as follow:-

We can calculate the non-controlling interest by using following formula:-

Equity’s Fair Value = Assets Fair Value - Liabilities Fair Value

= $150,000 - $50,000

= $100,000

Paper pays $75,000 for 75% equity and $15,000 for acquire 75% of goodwill.

Non Controlling Interest (In Consolidated Balance Sheet)

=100% - 75% × ( Equity’s Fair Value + Goodwill)

= 25% × ($100,000+$20,000)

= 0.25 × $120,000

= $30,000

You might be interested in
Bindy Crawford created a corporation providing legal services, Skysong, Inc., on July 1, 2022. On July 31 the balance sheet show
ad-work [718]

Answer:

Bindy Crawford

1. Tabular Analysis of the August Transactions:

       Cash   Accounts  Supplies  Equipment  Accounts  Common  Retained

                  Receivable                                      Payable                    Earnings

7/31   $4,600  $7,400      $730        $9,900      $9,100    $11,700       $1,830

8/1      +1,200   -1,200

8/4     -2,770                                                        -2,770

8/9     +3,510  +2,540                                                                           +6,050

8/15       -510                                       +4,180     +3,670

8/19   -2,480                                                                                          -2,480

8/23     -670                                                                                             -670

8/26 +5,700                                                      +5,700

8/31      -370                                                                                             -370

8/31  $8,210  $8,740       $730       $14,080  $15,700     $11,700     $4,360

2. Income Statement for the month of August

Service revenue                $6,050

Salaries expense    $1,390

Rent expense              760

Advertising expenses 330

Utility expenses          370   2,850

Net income                        $3,200

3. Retained Earnings Statement for the month of August

Retained earnings, July 31    $1,830

Net income                             3,200

Dividends                                  (670)

Retained earnings, Aug. 31 $4,360

4. Classified Balance Sheet as of August 31

Assets

Current Assets:

Cash                        $8,210

Accounts receivable 8,740

Supplies                       730     $17,680

Long-term Assets:

Equipment                              $14,080

Total assets                            $31,760

Liabilities and Equity

Current liabilities:

Accounts Payable 10,000

Notes Payable        5,700      $15,700

Equity:

Common stock      11,700

Retained earnings 4,360     $16,060

Total liabilities and equity    $31,760

Explanation:

a) Data and Analysis:

8/1 Cash $1,200 Accounts receivable $1,200

8/4 Accounts payable $2,770 Cash $2,770

8/9 Accounts receivable $2,540, Cash $3,510 Service revenue $6,050

8/15 Equipment $4,180 Cash $510 Accounts payable $3,670

8/19 Salaries expense $1,390, Rent expense $760, Advertising expenses $330 Cash $6,150

8/23 Cash dividend $670 Cash $670

8/26 Cash $5,700 Note payable (American Federal Bank) $5,700

8/31 Utility expenses $370 Cash $370

Tabular Analysis of the August Transactions:

       Cash   Accounts  Supplies  Equipment  Accounts  Common  Retained

                  Receivable                                      Payable                    Earnings

7/31   $4,600  $7,400      $730        $9,900      $9,100    $11,700       $1,830

8/1      +1,200   -1,200

8/4     -2,770                                                        -2,770

8/9     +3,510  +2,540                                                                           +6,050

8/15       -510                                       +4,180     +3,670

8/19   -2,480                                                                                          -2,480

8/23     -670                                                                                             -670

8/26 +5,700                                                      +5,700

8/31      -370                                                                                             -370

8/31  $8,210  $8,740       $730       $14,080  $15,700     $11,700     $4,360

7 0
3 years ago
Which response core capability involves ensuring the capacity for timely communications in support of security, situational awar
xeze [42]

<span>On-scene security, Protection, and Law Enforcement</span>

On-scene security, Protection, and Law Enforcement entails conducting appropriate measures to ensure the protection of the health and safety of the public and workers, as well as the environment, from all hazards in support of the responder operations and the affected community

7 0
3 years ago
Read 2 more answers
The data-mining technique that finds groups in the data that are similar in some way is____.
Morgarella [4.7K]
The answer is "clustering"
7 0
3 years ago
Read 2 more answers
Tell me more about an relationship​
Alona [7]

Answer:

A relationship is a true bond that you form with someone. It’s not like, “oh yea, I know that person. They’re nice I guess.” A relationship is like, “We are totes besties.” lol. Or special relationships are like, “That person is so nice. I kinda like-like them. Maybe I’ll ask them to the school dance.” B-u-u-u-t, sometimes other relationships can just be a connection you have with someone. I know this is kinda funny. lol. Good luck, and I hope this helps!

7 0
3 years ago
Which of the following is NOT a condition for a firm to engage in price discrimination? Multiple Choice The consumers are sincer
Radda [10]

Answer:

The correct answer is The consumers are sincere in revealing their true natures.

Explanation:

This is not a condition because the company does not take into account factors of this type to determine price changes, to consider the setting of new prices for products. In order to determine these changes, you must establish real data on the behavior of demand and determine if the goods produced have the characteristic of being storable to be traded over a longer period of time.

6 0
3 years ago
Other questions:
  • The owner of Christie’ Bookstore is looking into the sales of its Health &amp; Fitness magazine section. She finds that her equi
    7·1 answer
  • Which of the following is a benefit of content marketing? Select one: a. You reach more buyers at a lower cost. b. You essential
    11·1 answer
  • A bond that pays interest annually yields a rate of return of 7.50 percent. The inflation rate for the same period is 2 percent.
    8·1 answer
  • The degree to which the job assignments are formalized and proceduralized is the ________ contingency dimension identified by fi
    7·1 answer
  • Compute cost of goods sold for 2015 using the following information. Finished goods inventory, Dec. 31, 2014 $ 345,000 Work in p
    11·1 answer
  • Problems such as lack of trust or lack of sharing information among team members in a competitive group can be swiftly changed b
    12·1 answer
  • Ralph gives his daughter, Angela, stock (basis of $8,000; fair market value of $6,000). No gift tax results. If Angela subsequen
    6·1 answer
  • John is a boss who is very stern with his employees, and they follow every command he gives to them. John is someone who exempli
    8·1 answer
  • Riley operates a plumbing business, and this year the three-year-old van he used in the business was destroyed in a traffic acci
    6·1 answer
  • Korey is planning to open a comic book store near his home. after completing a population survey for 3,520 homes in a 5 mile rad
    10·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!