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
Pepsi [2]
3 years ago
13

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                <u>-4200000</u> <u>-540000</u>                                         <u>-4740000</u>

Gross profit         1800000   360000                                           2160000

Income (loss)       88200         0              88200                        <u>      0        </u>

from subsidiary

Operating          <u>-1140000</u>  <u> -234000</u>                                          <u>-1374000</u>

expense

Net income        748200     126000      88200                          786000  

Net income attributable to                       37800                           <u>37800</u>

non-controlling interests*

Net income attributable to Parent                                              <u>748200</u>

Workings:

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

You might be interested in
During which time period was the annual rate of increase of the speed the greatest? a) from year 1 to year 2 b) from year 1 to y
muminat

The annual rate will increase with the greatest speed from year 1 to year 3.

<h3>What is the growth rate?</h3>

A growth rate is the proportion that changes the price of all goods and services produced in a country over a specific time period in comparison to a previous period.

The growth rate is used to measure the comparative fitness of an economic system over time. The numbers are commonly compiled and announced quarterly and annually.

From 1948 to 2021, the GDP Annual Growth Rate in the United States averaged 3.14 percent, with an all-time high of 13.4 percent in the fourth sector of 1950.

From the above declaration, it's clear that choice C, year 1 to year 3, is the proper option.

Learn more about Growth rate, refer to:

brainly.com/question/13776641

4 0
1 year ago
then impact of risky behaviour on one's well-being by referring to social,emotional,physical and spiritual ​
maria [59]
Spiritually, risky behavior can truly take a toll. If you are religious, your actions won’t be in line with your beliefs (most likely). There is a trickle down effect from there. Lots of times, risky behavior makes a person feel paranoid because a person is doing things s/he feels is wrong. All of that takes a toll on a person physically. When you compromise yourself, you will tend to be on an emotional roller coaster. Not a great way to live
6 0
2 years ago
The _____ method is a forecasting method that looks at the conditions that lead to particular weather events.
sasho [114]
The answer that best fits the blank above is the term ANALOG. The ANALOG FORECASTING METHOD is known as the oldest method in the forecasting of weather. This kind of method reviews the previous weather events in order to lead to a particular weather event. Hope this helps.
8 0
3 years ago
Read 2 more answers
Suppose that hca and tenet were to merge. ignoring potential antitrust problems, this merger would be classified as a:
inessss [21]
The appropriate response is a Horizontal merger. An even merger is a merger or business union that happens between firms that work in a similar space, as rivalry has a tendency to be higher and the cooperative energies and potential picks up in piece of the pie are considerably more prominent for consolidating firms in such an industry.
6 0
3 years ago
How did the government help the economy?
melomori [17]
The government helped the economy by preventing monopolies that way small independent buissness could survive.
5 0
3 years ago
Other questions:
  • Brenda has been trying to lose weight and control her seemingly insatiable sweet tooth. to meet her goal, she has removed all co
    15·1 answer
  • Ruiz Co.’s budget includes the following credit sales for the current year: September, $165,000; October, $156,000; November, $1
    8·1 answer
  • The simple interest earned on a certain amount is double the amount when invested for 10 years. What is the interest rate being
    7·1 answer
  • Many individuals (third parties) in a society encounter ___________ externalities from a student’s college education that is str
    9·1 answer
  • CORRECT PENN FOSTER ANSWER ONLY PLEASE
    11·1 answer
  • When do credit card holders pay interest?
    14·1 answer
  • You are the project manager for Fun Days Vacation Resorts. Your new project assignment is to head up the Fun Days resort opening
    9·1 answer
  • What is constructive criticism? Give an example
    6·1 answer
  • 2. Cash flows from __________ activities are the cash flows from transactions that affect the debt and equity of the company.
    9·1 answer
  • A special kind of imperfectly competitive market that has only two firms is called.
    11·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!