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:
Report a prior period adjustment decreasing retained earnings by $1,040,000
Explanation:
Report a prior period adjustment decreasing retained earnings by $1,040,000
Dr Retained earnings $1,040,000
Dr Deferred tax liability $560,000
(35%×$1,600,000)
Cr Estimated warranty liability $1,600,000
Therefore As a result of this change, the firm would Report a prior period adjustment decreasing retained earnings by $1,040,000
Answer:
According to this situation, we assume that firm F is the only producer of product X.
Explanation:
A perfect replacement is a condition in which two items are considered equal. Great replacements are goods and you can't build a brand whereby consumers like the commodity.
Except for a market price, optimal substitution suppliers must have no impact on the quality.
- Therefore, in this situation product Y's price rises, so people shift for product X.
- In results, firm F had to increase his supply which shows that firm F is the only producer of product X in the industry.
<span>A monopoly would have to make it so the marginal revenue is less than the marginal cost, and in return, the monopoly would end up losing money instead of gaining money. This means that they are spending more money than they are making.</span>
