Answer:
$33,600
Explanation:
Calculation for the Non-controlling interest share.
Using this formula
Non-controlling interest share=Net income-(Inventory ×One-third of Inventory)× Percentage of Subsidiary
Let plug in the formula
Non-controlling interest share=$200,000-($48,000×2/3)×(100%-80%)
Non-controlling interest share=$200,000-$32,000×20%
Non-controlling interest share=$168,000×20%
Non-controlling interest share=$33,600
Therefore the Non-controlling interest share of consolidated net income that will appear in the income statement for 20X2 is $33,600
FIFO is cost flow assumption that generally results in the highest reported amount of net income in periods of rising inventory costs.
<h3>What is First In, First Out?</h3>
First In, First Out, can be regarded as the is an asset-management techniques which is been used in analyzing assets.
With this techniques the asset that is usually disposed first are those that are first gotten, and this is usually done for the purpose of tax, and uses the assumption that there inclusion of old items in income statement.
learn more about FIFO at :brainly.com/question/24137318
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Answer:
Only the first autocovariance function : γ(t,r) is covariance stationary, the remaining are not covariance stationary
Explanation:
For a process to be covariance stationary/ weak stationary/ second order stationary it must satisfy these two conditions below:
In order words, {Xt} is said to be (weakly) stationary if :
1. it is independent of t, and
2. For each h, x(t + ћ, t) is independent of t.
In that case, we write:
γX (h) = γX (h,0⇒)
Hence only the first autocovariance function : γ(t,r) is covariance stationary since Autocorrelation function (ACF) is time independent.
The remaining are not covariance stationary because ACF is time dependent.
Answer:
As a result of operations, there will be an understatement of McGinnis’ net income for the most recent fiscal year of 30900
Explanation:
Services 40900
Weekly wage 10000
FY end on June 30900
The cash basis is a method of recording accounting transactions for revenue and expenses only when the corresponding cash is received or payments are made. Thus, you record revenue only when a customer pays for a billed product or service, and you record a payable only when it is paid by the company
Answer:
take 40,000 - 5,000 = 35,000
then take 35,000 x 3 = $ 105,000
Explanation: