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3 years ago

Preparing a consolidated income statement - with noncontrolling interest, but AAP or intercompany profits

Business

1 answer:

mrs_skeptik [129]3 years ago

8 0

Answer:

Consol. Income Parent Subsidiary Elimination entries Consolidated

statement Dr Cr

Sales 6000000 900000 6900000

COGS -4200000 -540000 -4740000

Gross profit 1800000 360000 2160000

Income (loss) 88200 0 88200 0

from subsidiary

Operating -1140000 -234000 -1374000

expense

Net income 748200 126000 88200 786000

Net income attributable to 37800 37800

non-controlling interests*

Net income attributable to Parent 748200

Workings:

Net income attributable to non-controlling interests = 126000*30% = 37800

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According to Karl Marx, capitalists really produced all wealth, and the laborers were the recipients of the wealth.

nikdorinn [45]

Answer: false

Explanation:

Capitalists are the business owner who own the means of production such as factories, tools, and raw material, and who are also entitled to any and all profits. The other, much larger class is composed of labor. Laborers do not own or have any claim or priviledge to the means of production, the finished products they work on, or any of the profits generated from sales of those products. They work only for wages making this kind of system according to Marx an uneven arrangement, capitalists exploit workers. Capitalist do not produce all the wealth and the laborers are exploited

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3 years ago

In an equipment replacement decision, the cost of the old equipment is a(n)

algol13

In an equipment replacement decision, the cost of the old equipment is called Bsunk cost.

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3 years ago

Sally currently has $20,000 in her savings account and she has inherited $250, 000 from her aunt. What should she do to ensure t

Korolek [52]

The thing that Sally can do to ensure that she will have access to her money if the bank goes out of business is to keep her money in two financial institutions.

<h3>How to illustrate the information?</h3>

A bank is a place where one keeps money and other valuable.

In this case, to have access to her money if the bank goes out of business is to keep her money in two financial institutions.

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3 0

2 years ago

A call center has a total of 12 telephone lines coming into its customer service department, which is staffed by 5 customer serv

maria [59]

Answer:

a. decrease

b. increase

c. increase

Explanation:

A call center has added a telephone line coming to its customer service department. The proportion of potential customer getting a busy line will decrease because now there is one additional line that can be used to serve caller. The average flow time experienced by customers will increase. Utilization of all the telephone lines shows the productivity of call center. The average utilization of customer service representative will increase because customer representative will have one more line to address the call by customers.

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3 years ago

At the beginning of 2019, Emily Corporation issued 10,000 shares of $100 par, 5%, cumulative, preferred stock for $110 per share

soldi70 [24.7K]

Answer:

$1,500

Explanation:

The computation of the amount of dividend for a preference shareholder is shown below:

Dividend per year is

= (100 shares × $100 par) × 5%

= $500

As the preferred stock is cumulative, so the holders would receive past dividends i.e not distributed

From 2019 = $500

From 2020 = $500

From 2021 = $500

Total $1,500

7 0

3 years ago