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ziro4ka [17]
3 years ago
7

On January 1, 2018, Lowell Corp. acquired 80% of the voting common stock of Boston Inc. During the year, Lowell sold to Boston f

or $450,000 goods that cost $330,000. At year-end, Boston owned 15% of the goods transferred. Boston reported net income of $204,000, and Lowell's net income was $806,000. Lowell decided to use the equity method to account for this investment. Assuming there are no excess amortizations associated with the consolidation, and no other intra-entity asset transfers, what was the net income attributable to the noncontrolling interest
Business
1 answer:
Hitman42 [59]3 years ago
8 0

Answer:

$40,800

Explanation:

The computation of  the net income is shown below:-

With regard to non-controlling interest, Lowell Corp. and the non-controlling interest divided Boston net profits proportionately to their ownership interests.

Non controlling interest share of consolidated net income = Boston net income × Remaining percentage

= $204,000 × (100% - 80%)

= $204,000 × 20%

= $40,800

Therefore for computing the Non controlling interest share of consolidated net income we simply multiply the Boston net income with remaining percentage.

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The answer for this is A
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Anthony, a self-employed plumber, makes a maximum contribution to a SEP for his employee, Debra. Debra's compensation is $40,000
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$10,000

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7 0
3 years ago
Assume that the price of a European call expiring in six-month with a strike price of $30 is $2. Suppose that the underlying sto
Komok [63]

Answer:

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Explanation:

given data

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dividend = $0.50

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solution

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c - p = s - k e^{-rt} -D    .....................1

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8 0
3 years ago
DriveTrain, Inc. instituted a new process in October 2020. During October, 12,400 units were started in Department A. Of the uni
alexandr1967 [171]

Answer:

Transferred To Department B costs= $ 57,620

Materials = $2.7 * 8,600= $ 23,220

Conversion Costs = $ 4* 8,600= $ 34,400

Explanation:

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                                         Materials     C.C              Materials  C.C

Transferred    8,600          100            100          8600           8600

<u>WIP Ending     3,800          100            50          3800           1900 </u>

<u>Total               12,400                                         12,400          10500</u>

<u />

Materials Costs per equivalent Unit=  $33,480/ 12400= $ 2.7

Conversion Costs per equivalent Unit= $42,000/ 10,500= $ 4

Transferred To Department B costs= $ 57,620

Materials = $2.7 * 8,600= $ 23,220

Conversion Costs = $ 4* 8,600= $ 34,400

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