Leading Responsibly: Given the challenges that businesses face in Lebanon, what are the most important elements for
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Leading Responsibly: Given the challenges that businesses face in Lebanon, what are the most important elements for companies to implement to ensure that they remain 'ethical'? Give an example.
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Determine the following: 4. Non controlling interest in net income of subsidiary 5. 6. Consolidated Retained Earnings Consolidated equity On January 1, 2019, Parent Company purchased 80% of the outstanding shares of Subsidiary Company by paying P340,000. The Subsidiary Company's Share Capital and Retained Earnings on this date amounted to P150,000 and P230,000 respectively. Also, on this date, an equipment was undervalued by P20,000 with remaining useful life of 10 years. On the same date, Parent Company had P1,000,000 of Share Capital and P700,000 of Retained Earnings . Below are the additional information: Sales Cost of Sales Gross Income Expenses Net Income Dividends paid Parent 300,000 165,000 135,000 35,000 100,000 Determine the following: 7. Parent Investment as of December 8. Net Income Attributable to Parent 9. Net Income Attributable to NCI 10. Consolidated Equity 60,000 L . 31, 2019 On January 2, 2020, Honesty Corporation purchased 80% of the outstanding shares of Character Company for a consideration of P19,000,000 Included in the price paid is control premium in the amount of P500,000 The acquisition-related cost amounts to P45,000. At that date, Character had P16,000,000 ordinary shares outstanding and retained earnings of P6,400,000 of Subsidiary 150,000 100,000 50,000 20,000 30,000 Character's equipment with a remaining life of 5 years had a book value of P9,000,000 P10,520,000 Character's remaining assets had book values equal to their fair values 10,000 . The income and dividend figures for both Honesty and Character are as follows: Net income of Honesty in 2020 is P3,600,000 ; 2021 is P4,400,000 Net income of Character in 2020 is P1,360,000 ; 2021 is P2,040,000 Dividends declared by Honesty in 2020 is P880,000; 2021 is P1,560,000 Dividends declared Honesty retained earnings at the date of acquisition by Character in 2020 is P280,000; 2021 is P520,000 was P13,800,000 " Required: 11. What is the consolidated profit in 2021 ? 12. What is the non-controlling interest in net assets in 2021? and a fair value of . Determine the following: 4. Non controlling interest in net income of subsidiary 5. 6. Consolidated Retained Earnings Consolidated equity On January 1, 2019, Parent Company purchased 80% of the outstanding shares of Subsidiary Company by paying P340,000. The Subsidiary Company's Share Capital and Retained Earnings on this date amounted to P150,000 and P230,000 respectively. Also, on this date, an equipment was undervalued by P20,000 with remaining useful life of 10 years. On the same date, Parent Company had P1,000,000 of Share Capital and P700,000 of Retained Earnings . Below are the additional information: Sales Cost of Sales Gross Income Expenses Net Income Dividends paid Parent 300,000 165,000 135,000 35,000 100,000 Determine the following: 7. Parent Investment as of December 8. Net Income Attributable to Parent 9. Net Income Attributable to NCI 10. Consolidated Equity 60,000 L . 31, 2019 On January 2, 2020, Honesty Corporation purchased 80% of the outstanding shares of Character Company for a consideration of P19,000,000 Included in the price paid is control premium in the amount of P500,000 The acquisition-related cost amounts to P45,000. At that date, Character had P16,000,000 ordinary shares outstanding and retained earnings of P6,400,000 of Subsidiary 150,000 100,000 50,000 20,000 30,000 Character's equipment with a remaining life of 5 years had a book value of P9,000,000 P10,520,000 Character's remaining assets had book values equal to their fair values 10,000 . The income and dividend figures for both Honesty and Character are as follows: Net income of Honesty in 2020 is P3,600,000 ; 2021 is P4,400,000 Net income of Character in 2020 is P1,360,000 ; 2021 is P2,040,000 Dividends declared by Honesty in 2020 is P880,000; 2021 is P1,560,000 Dividends declared Honesty retained earnings at the date of acquisition by Character in 2020 is P280,000; 2021 is P520,000 was P13,800,000 " Required: 11. What is the consolidated profit in 2021 ? 12. What is the non-controlling interest in net assets in 2021? and a fair value of .
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Given the challenges that businesses face in Lebanon it is crucial for companies to implement a strong ethical framework that guides their operations ... View the full answer
Related Book For
Advanced Financial Accounting
ISBN: 978-0078025624
10th edition
Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker
Posted Date:
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