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
Oksi-84 [34.3K]
3 years ago
9

Maple Corporation and its subsidiary reported consolidated net income of $380,000 for the year ended December 31, 20X5. Maple ow

ns 75% of the common shares of its subsidiary, acquired at book value. Noncontrolling interest was assigned income of $25,000 in the consolidated income statement for 20X5. What is the amount of separate operating income reported by Maple for the year
Business
1 answer:
Klio2033 [76]3 years ago
4 0

Answer: $280,000

Explanation:

Maple owns 75% of the subsidiary and the Non controlling interest which owns 25% in the subsidiary was assigned an income of $25,000 from the subsidiary.

The income of the subsidiary is;

0.25x = 25,000

x = 25,000/0.25

x= $100,000

If both Maple and the subsidiary reported $380,000, Maple's separate income is;

= 380,000 - 100,000

= $280,000

You might be interested in
Helppppp <br><br> With question 8 only please
CaHeK987 [17]

Answer:

True

Explanation:

For your in-text citation, just use the author's name or the title of the work if there is no author given. For your Works Cited list, just leave the page number part out.

5 0
2 years ago
Anyone wants my number for 84 points
charle [14.2K]

Answer:

no

Explanation:

3 0
2 years ago
The following information was available for the year ended December 31, 2019: Net sales $ 894,250 Cost of goods sold 616,850 Ave
iogann1982 [59]

Answer:

Explanation:

Net sales - $894,250

Cost of Goods - $ 616850

Average account receivable - $40,650

Account receivable at year end - $28200

Average inventory - $182000

Inventory at year end - $158,000

Inventory turn over

Cost of Goods sold / Average inventory for the period

616850/182000= 3.40 times

No of days sales in inventory = Ending inventory / Cost of Goods sold *365

158000/616850*365 = 93.5 days

Account receivable turnover = net credit sale / average receivable

894250/40650=21.9

No of days sales in account receivable -

Receivable at year end/total credit sales*365

28200/894250*365= 11.5 days

7 0
3 years ago
Hadley, Inc. manufactures a product that uses $18 in direct materials and $5 in direct labor per unit. Under the traditional cos
Rama09 [41]

Answer:

Total Manufacturing cost per unit is $53

Explanation:

Manufacturing cost is the cost used to manufacture a product, both direct and indirect cost incurred in manufacturing process are included. It is the total value of material cost, labor cost and overhead cost.

Direct Material Cost = $18

Direct Labor cost  = $5 per hour

Manufacturing overhead applied = $13 per unit

Total Activity rate = $30

Activity based costing is the method of allocation of overhead to the products / department / projects on the basis of uses of activity by each one.As we know that calculating an activity rate which is similar to predetermined overhead rate.

Total Manufacturing Cost = Direct material cost + Direct Labor cost + Manufacturing overhead cost

As we know that calculating an activity rate which is similar to predetermined overhead rate. so the activity rate will be used for overhead expense.

Total Manufacturing Cost = $18 + $5 + $30 = $53 per unit

6 0
3 years ago
Xuechen graduated from culinary school at the top of her class, and signed an employment contract to work as a chef for one of C
antiseptic1488 [7]

Answer:

A) Yes, the employment contract has been breached, but the non-competition agreement has not been breached.

Explanation:

Xuechen signed a three year employment contract which she breached after a short time by quitting her job. The non competition agreement that she signed required her not to work as a chef for another restaurant, but since she is working as a manager, then she didn't breach that contract.

3 0
3 years ago
Read 2 more answers
Other questions:
  • A system of accounting in which the costs of each process are accumulated separately and then assigned to the units of product t
    6·1 answer
  • PL Inc. implements an information system to improve its supply chain. The system helps the organization to reduce wastes and opt
    9·1 answer
  • Martha must drive twenty miles to get to the nearest grocery store. she often buys her daily items from a convenience store near
    7·1 answer
  • During the month of June, Rowling Boutique had cash sales of$233,200 and credit sales of $153,700, both of which include the 6%s
    14·1 answer
  • Eagle Company, a partnership, had a short-term capital loss of $10,000 during the current year. Aaron, who owns 25% of Eagle, wi
    15·1 answer
  • Kerekes Manufacturing Corporation has prepared the following overhead budget for next month.
    15·1 answer
  • Dole Corp.'s accounts payable at December 31, 2014, totaled $750,000 before any necessary year-end adjustments relating to the f
    5·1 answer
  • accounting A John Deere tractor acquired on January 4 at a cost of $120,000 has an estimated useful life of 25 years. Assume tha
    9·1 answer
  • Describe TWO ways in which the above law protects citizens against human<br>rights violations.<br>​
    14·1 answer
  • Ondren Machine Tools has total assets of $3,930,000 and current assets of $829,000. It turns over its fixed assets 3.8 times per
    7·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!