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
ralph leases 1,000 square feet in a large warehouse. the lease agreement requires him to pay portions of the landlord's taxes, i
labwork [276]

A sizable warehouse that Ralph rents out has 1,000 square feet. In addition to the amount he pays to lease the space, the lease requires him to contribute to the landlord's taxes, insurance, and maintenance costs. Ralph has Three-year net lease.

What is a lease example?

the length of the contract's term or duration. To lease anything is to provide someone a lease on it or to consent to renting someone else's property. When you rent out your apartment to a tenant, that is an example of a lease. When you choose to rent an apartment to live in, that is an instance of a lease.

A Net Lease:

What Is It?

The phrase "net lease" describes a legal arrangement in which, in addition to the rent, the lessee also pays some or all of the property's taxes, insurance premiums, and upkeep expenses. The commercial real estate industry frequently employs net leases.

To know more about Net Lease

brainly.com/question/26052885

#SPJ4

3 0
1 year ago
What is any measurable, tangible, verifiable outcome, result, or item that is produced to complete a project or part of a projec
Alborosie

Deliverable is any measurable, tangible, verifiable outcome, result, or item that is produced to complete a project or part of a project.

<h3>What is Deliverable?</h3>

A deliverable is a tangible or intangible good or service created as part of a project and intended for delivery to a customer. A deliverable may be a report, a document, a software product, a server upgrade, or any other component of a larger project.

Every deliverable has a cost: the total amount of time, money, and labor required to create and implement that deliverable (product or service, or its component). The cost per deliverable determines your project's budget.

Anything produced or provided as a result of a process is considered a key deliverable. When goals are met, deliverables are created, and when the overall project is completed, your key deliverable is completed.

To know more about Deliverable follow the link:

brainly.com/question/25783020

#SPJ4

6 0
1 year ago
Describe user datagram protocal​
blsea [12.9K]

Answer:

Datagram Protocol is a communications protocol that is primarily used for establishing low latency and loss tolerating connections between applications on the internet. It speeds up transmissions by enabling the transfer of data before an agreement is provided by the receiving party.

7 0
3 years ago
Employees at Atkins Inc. are frustrated with their manager, Kyle, who does not believe in providing feedback because he thinks i
Ratling [72]

Answer:

by using evidence and logic

Explanation:

allot

3 0
3 years ago
Journalize the below entries.
grigory [225]

Answer:

Dec. 2.

Dr. Inventory $4,000

Cr. Troy $4,000

Dec. 3.

Dr. Rent Expense $2,600

Cr. Cash $2,600

Dec. 5.

Dr. Office Supplies $450

Cr. Rigby Supply $450

Dec. 8.

Dr. Utility Expense $590

Cr. Cash $590

Dec. 9.

Dr. Equipment $6,500

Cr. Alright Equipment $6,500

Dec. 10.

Dr. Alright Equipment $6,500

Cr. Equipment $6,500

Dec. 11.

Dr. Troy $4,000

Cr. Discount received $40

Cr. Cash $3,960

Explanation:

Dec. 11

The terms 1/10 n/30 mean there is a discount of 1% available on the payment to be made in 10 days of the purchase. The net credit period is 30 days. As the payment is made within the discount period, hence the payment will be made net of discount.

Discount on Purchase = $4,000 x 1% = $40

Payment = Total amount due - Discount = $4,000 -$40 = $3,960

3 0
3 years ago
Other questions:
  • An automatic stabilizer: A. extracts money from the economy during recessions. B. is exemplified by a program such as unemployme
    5·1 answer
  • Fixed financial charges include ________. stock repurchase expense common stock dividends and bond interest expense common stock
    11·1 answer
  • On January 1, Revis Consulting entered into a contract to complete a cost reduction program for Green Financial over a six-month
    8·1 answer
  • The Titanic Company had the following cash transactions during 20XX: Received $300,000 from customers. Received $10,000 dividend
    7·1 answer
  • Handy Home sells windows and doors in the ratio of 7:3 (windows:doors). The selling price of each window is $113 and of each doo
    7·1 answer
  • You work for an advertising agency. You have been assigned to come up with an advertising campaign for a new brand of designer w
    6·1 answer
  • Compute break-even point The Palmer Acres Inn is trying to determine its break-even point during its off-peak season. The inn ha
    14·1 answer
  • gluon inc. is considering the purchase of a new high pressure glueball. it can purchase the glueball for $90,000 and sell its ol
    12·1 answer
  • The customer relationship is best built when
    11·2 answers
  • Kray Inc., which produces a single product, has provided the following data for its most recent month of operations. There were
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!