Question: Isnt preacquisition income really noncontrolling interest share?

Isn’t preacquisition income really noncontrolling interest share?

Step by Step Solution

★★★★★

3.47 Rating (163 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Preacquisition income is similar to noncontrolling interest ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

55-B-A-C (41).docx

120 KBs Word File

Students Have Also Explored These Related Accounting Questions!

Q:

T buys 1,000 shares of CDE stock at $40 per share on February 10 of Year 1 (total price of $40,000). The CDE stock rises in price; T buys another 1,000 shares at $60 per share on March 10 of Year 1...

Q:

1. The classification of noncontrolling interest share as an expense and noncontrolling interest as a liability is preferred under: (a) Parent-company theory (b) Entity theory (c) Traditional theory...

Q:

Consider the following national-income model. Y=C+I+G. C=a+b(Y-T) where a > 0, b = (0,1). G=gY where g = (0,1). a) Identify the endogenous variables. b) Give the economic interpretation of the...

Q:

4. Isnt preacquisition income really noncontrolling interest share?

Q:

Isnt preacquisition income really noncontrolling interest expense? If so, why separate preacquisition income and noncontrolling interest expense in the consolidated income statement ? AppendixLO1

Q:

Pat owns 90,000 shares of Sal's outstanding voting common stock at December 31, 2011. These shares were aquired in two lots as follows: Date Shares Purch Price Lot 1 Jan 1, 2010 70000 490000 Lot 2...

Q:

consolidation work paper journal entries with notations PAT CORPORATION AND SUBSIDIARY P 10-3 CONSOLIDATION WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2011 80% Adjustments & Eliminations Consolidated...

Q:

PAT CORPORATION AND SUBSIDIARY P 10-3 CONSOLIDATION WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2011 80% Adjustments & Eliminations Consolidated (in thousands) Pat Sal Debits Credits Statements INCOME...

Q:

The following information has been extracted from the financial statements of Wayne Ltd and its subsidiary Greg Ltd at 30 June 2019. Additional information: 1. Wayne Ltd acquired its 80 per cent...

Q:

Net income of Kurton $224.000 Net income of Luvyn: $70,000 Amortization $55,000/5 years (1 1.060) 59.000 Consolidated net income $283,000 Non-controlling interest share of net income See below 7.860...

Q:

What are the pros and cons of using public funds to prop up a financial system in crisis?

Q:

What is the purpose of charging different groups of customers different prices? Supplement the three broad examples in the Last Word with two additional examples of your own.

Q:

4 out of 1 0 Review Later Which of the following is a common non - recurring item on an income statement? Interest income from investments Regular salary expenses Gain on Early Extinguishment of Debt...

Q:

A sequential circuit with one input and one output is used to stretch the first two bits of 4-bit sequence as follows: After every 4 bits, the circuit resets. Find a Mealy state graph and table for...

Q:

The tension member below is an L6x3-1/2x5/16. It is connected to a 5/16-inch thick gusset plate with 3/4-inch diameter A325 bolts. Both the tension member and the gusset plate are fabricated from A36...

Q:

JST Services employs 50 workers who are each paid $900 per week. JST allows each employee two weeks of paid vacation per year. In addition, the company allows each employee one week of paid sick...

Q:

The center-of-gravity method does not take into consideration the a. location of markets b. volume of goods shipped to the markets value of the goods shipped d. combination of volume and distance e....

Q:

Essay 1. Explain capital budgeting? 2. Explain the cost of capital? 3. What is the method of calculation of the time value of money? 4. Explain why studying working capital management is so important...

Q:

Working capital turnover ratio is calculated by dividing average working capital by sales. (True/False)

Q:

Par Corporation acquired all the stock of Sad Corporation on January 1, 2011, for $280,000 cash, when the book values and fair values of Sad's assets and liabilities were as follows (in thousands):...

Q:

The pretax operating incomes of Pop Corporation and Son Corporation, its 70 percent-owned subsidiary, for 2011 are as follows (in thousands): ADDITIONAL INFORMATION1. Pop received $280,000 dividends...

Q:

On January 3, 2011, Pix Corporation purchased a 90% interest in Sal Corporation at a price $120,000 in excess of book value and fair value. The excess is goodwill. During 2011, Pix sold inventory...

Q:

At its profit - maximizing output, a pure nondiscriminating monopolist achieves: Group of answer choices both productive efficiency and allocative efficiency. allocative efficiency but not productive...

Q:

Use the statistics from the above table to calculate portfolio returns, portfolio variance, and portfolio standard deviation for each investment allocation from Cell A8 to A18

Q:

1) 6.18 Is college worth it? Part II: Exercise 6.16 presents the results of a poll where 48% of 331 Americans who decide to not go to college do so because they cannot afford it. (a) (a) Calculate a...