Describe the circumstances under which the accounts of a subsidiary would not be included in the consolidated
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 90% (10 reviews)
Under GAAP a subsidiary will not be consolidated if contr...View the full answer
Answered By
Branice Buyengo Ajevi
I have been teaching for the last 5 years which has strengthened my interaction with students of different level.
4.30+
1+ Reviews
10+ Question Solved
Related Book For
Advanced Accounting
ISBN: 9780132568968
11th Edition
Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith
Question Posted:
Students also viewed these Accounting questions
-
Describe the circumstances under which sensitivity analysis might be a reasonable basis for determining changes to a firms EBIT or FCF.
-
Describe the circumstances under which the current, quick, and cash ratios, respectively, are more appropriate measures of short-term liquidity than the other ratios?
-
Describe the circumstances under which the acquirer is better off paying in stock rather than cash. What are the implications for the acquirers shareholders of paying in stock?
-
In a recent self-check, the store manager had her employees compare prices on 320 different items which were picked at random for cross-check. The employees recorded the shelf price and the price...
-
International Gadgets is a company with offices throughout the United States and in Europe. There has been a history of miscommunication within office departments, between offices, and, most...
-
During her studies at Florida Keys University, a public university that is part of Floridas state university system, Amanda took a work-study position in the universitys financial reporting and...
-
Make up your own portfolio! Repeat exercise 2, but substitute a 10-asset portfolio of your own creation. Here are some suggestions: Portfolio of green (environmental-friendly) stocks. Portfolio of...
-
Mason Advertising Agency was founded in January 2008. Presented below are adjusted and unadjusted trial balances as of December 31, 2012. Instructions(a) Journalize the annual adjusting entries that...
-
If f(ac) = (sin -(4x + 8) ) , then f' (a) = Note: The inverse of sin (x ) can be entered as arcsin(x ) or asin(x)
-
Kennedy Prisby, age 33, is single and has no dependents. Her social security number is 111-22-3333. Her address is 101 North Fork Ave., Cedar City, UT 84720. She has no intention of donating to the...
-
What is a noncontrolling interest?
-
A summary of changes in Pen Corporation's Investment in Sam account from January 1, 2011, to December 31, 2013, follows (in thousands): ADDITIONAL INFORMATION1. Pen acquired its 80 percent interest...
-
Medical Distributors, Inc. is a U.S. company that buys and sells used medical equipment throughout the United States and Canada. During the month of June, the company had the following transactions...
-
Nolan works for the United Bank at Madison. He feels overworked and dislikes his job, but he cannot quit because he needs the job to repay his college loans. What type of commitment does Nolan have?
-
Power Bhd manufactures electronic scooter, known as T-tech, by purchasing its major switch components, from Luxer Sdn Bhd at a price of RM45 per unit. Power Bhd also pays the transportation costs of...
-
Pottery Farm uses standard costing and has the following standard cost sheet for one of its products. Standard cost sheet: Direct materials Direct labor 5 kilograms 2 hours at $2 per kilogram $ 10 at...
-
Criminal Corporation purchased trading investment bonds for $61,000 at par. At December 31, Criminal received annual interest of $2,440, and the fair value of the bonds was $58,600. Prepare Criminal'...
-
At December 31, 2023, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows: Category Land Land improvements Buildings Equipment Automobiles and...
-
If you need to pay an average of $4,000 per month in order to attract auto sales employees, then what must be the per employee monthly quota to achieve commission, given the following information? a....
-
What is the back work ratio? What are typical back work ratio values for gas-turbine engines?
-
The reducing agent in the double-bond reduction step of fatty-acid biosynthesis (the last step of Eq. 22.74, repeated below) is NADPH. (ACP 5 acyl carrier protein.) (a) Using an abbreviated structure...
-
Pop Corporation acquired an 80 percent interest in Sat Corporation on October 1, 2011, for $82,400, equal to 80 percent of the underlying equity of Sat on that date plus $16,000 goodwill (total...
-
Pal Corporation paid $175,000 for a 70 percent interest in Sid Corporation's outstanding stock on April 1, 2011. Sid's stockholders' equity on January 1, 2011, consisted of $200,000 capital stock and...
-
Pam Corporation acquired a 70 percent interest in Sam Corporation on January 1, 2011, for $420,000 cash, when Sam's equity of Sam consisted of $300,000 capital stock and $200,000 retained earnings....
-
In the current year, Kebby Corporation is deemed to be a personal holding company ( PHC ) and reports the following results: View the results. Read the requirements. Requirement a . What is Kebby's...
-
Information on Kwon Manufacturing's activities for its first month of operations follows: a . Purchased $ 1 0 1 , 4 0 0 of raw materials on credit. b . Materials requisitions show the following...
-
XYZ Industries manufactures 1 6 , 0 0 0 components per.year. The total manufacturing costs for this level of production were determined as follows: \ table [ [ Direct Materials,$ 1 4 4 , 0 0 0
Study smarter with the SolutionInn App