What are new guidelines issued by GAAP for consolidating entities

1 answer:

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Consolidation Rules Under GAAP

The general rule requires consolidation of financial statements when one company’s ownership interest in a business provides it with A MAJORITY OF the voting power- meaning it controls more then 50% of the voting shares

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A company began the year with assets of $117,000, liabilities of $28,500, and stockholders' equity of $88,500. During the year a

algol [13]

Answer:

Change in liabilities = $33,300

Explanation

According to the accounting equation, assets is equal to liabilities + equity. And this equation can be re-written as:

Liabilities = assets - equity

Liabilities at the end of the period = assets at the end - equity at the end

Assets at the end= 117,000 + 56,700= 173,700

Equity at the end = 88,500 + 23,400 = 111,900

Liabilities at the end = 173,700 - 111,900=61800

Change in liabilities = Liabilities at the end - Liabilities at the beginning

Change in liabilities = 61,800 - 28,500= $33,300

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3 years ago

Prior to 2008, CBS Corp. owned approximately 18% of Westwood One, Inc., which managed the CBS Radio Network. CBS, in turn, manag

olga nikolaevna [1]

Answer and explanation:

The influence a company may have over another when one of them has a number of shares that belongs to the other is determined by the percentage of ownership that the number of shares represent. If its lower than 20%, it is said the company has no influence over the other. From 20% to 50% one company has significant influence over the other. Finally, with more than 50% of the outstanding shares in possession, one company has control over the other.

In that case, CBS Corp. has no influence over Westwood One, Inc. since it owns only 18% of the outstanding shares.

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3 years ago

Which of the following are etiquette guidelines that promote positive workplace conversations? Check all that apply. a. Give sin

Gelneren [198K]

Answer:

The correct answers are letter "A", "B", "C", "D", and "E".

Explanation:

Inside the work frame, it is important to follow certain etiquette guidelines to create a good environment atmosphere. Those practices include giving since praise and avoiding negative commentaries, listening to coworkers and supervisors advice to learn the maximum possible of our duties, choosing correct topics to talk about dismiss personal matters, and using correct titles when talking to our colleagues and higher-rank personal.

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3 years ago

Select a product or component for which physical properties are more important than mechanical properties. • Describe the produc

Dmitry_Shevchenko [17]

Answer:

Explanation:one good example is an electrical wire,an electrical wire is usually coated with insulator to prevent the current from affecting the present environment.. Why the mechanical function is to transport electricity..so an electrical wire transport electricity and still it users from hazards

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3 years ago

The open-ended question post-project evaluation meeting should contain an opportunity to talk about possible additional projects

mash [69]

Answer:

B. False.

Explanation:

In the rightful manner, this meeting type is said to typically happen in different formats though most of it happens to appear in different video calls, conference or zoom which is popular in recent times. This meeting should contain or entertain the ability for opportunity talks which could yield possibilities in adding works that can benefit the parties involved. But in the case above, assuming the permission to use the customer as a reference with potential customers is totally out of the line so it is said to not totally fall in as post project evaluation.

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3 years ago