The noncontrolling interest in a subsidiary company is calculated at the end of a reporting period by multiplying the subsidiaries’ net income by the noncontrolling interest percentage.
A noncontrolling interest (NCI), or a minority interest, is a situation in which the shareholders own less than 50% of the outstanding shares and thus have no say in the decision-making process.
At the end of a reporting period, the NCI is calculated by taking the NCI percentage and multiplying it with the net income of the subsidiary. For example, if a minority partner owns 30% in the subsidiary, and the subsidiary’s net income is $ 2 million, the NCI will be $ 2 million multiplied by 30%, which is $600,000.
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Answer:
Issuance of common stock to acquire land is a non-cash investing and financial activity.
Explanation:
Payment of note payable, payment of cash dividend and purchase of inventory on account all involve cash transactions.
Here, the issuance of common stock is a financial activity. Acquiring land can be categorized as an investing activity. To acquire land common stock is issued, cash is not involved.
So, the issuance of common stock to acquire land is non-cash investing and financial activity.
Other countries may have a faster growth rate than the US.
Answer and Explanation:
a.
The punitive damages of $80,000 should be involved in the gross income of leigh. The amounts like $15,000 and $6,000 should not be included as this is a physical personal injury except the $3,300 that for the damaged as this amount is untaxable also here the capital is recovered because it decreased the basis by $3,300
b. The $25,000 should be included in the gross income of leigh as it does not occur from the physical personal injury
Answer:
Materials cost per unit: $3.80
Conversion cost per unit: $4.54
Compute total manufacturing costs: $92,480
Explanation:
Unit Costs = Total Cost ÷ Total Equivalent Units
<u>1. Materials </u>
Unit Cost = $38,000 ÷ 10,000
= $3.80
<u>2. Conversion Costs</u>
Unit Cost = $54,480 ÷ 12,000
= $4.54
<u>Total Manufacturing Costs :</u>
Materials $38,000
Conversion Costs $54,480
Total $92,480