6. The noncontrolling interest share that appears in the consolidated income statement is computed as follows: a

Question:

6. The noncontrolling interest share that appears in the consolidated income statement is computed as follows:

a Consolidated net income is multiplied by the noncontrolling interest percentage.

b The subsidiary’s income less amortization of fair/book value differentials is multiplied by the noncontrolling interest percentage.

c Subsidiary net income is subtracted from consolidated net income.

d Subsidiary income determined for consolidated statement purposes is multiplied by the noncontrolling interest percentage.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Advanced Accounting

ISBN: 9781292214597

13th Global Edition

Authors: Joseph H. Anthony, Bruce Bettinghaus, Floyd A. Beams, Kenneth Smith

See More Books

Question Posted: Jul 20, 2024 02:04 AM

See More Questions

Question 1 Darby Inc. has just completed its fiscal year ended December 31, 2017. Using GAAP, the accountant has determined that, for that taxation year, the Company has experienced a Net Loss Before...
Corporations obtain capital for use in their operations by borrowing and by raising equity capital, either by selling new common stock or by retaining earnings. The cost of debt capital is the...
1. Under GAAP, a parent company should exclude a subsidiary from consolidation if: a. I t measures income from the subsidiary under the equity method b. T he subsidiary is in a regulated industry c....
If the molecular weight of air is 28.9, what is the density of air at atmospheric pressure and a temperature of 328.2 K? 1 atm = 1.013 x 10 5 N/m, the mass of a proton is 1.67262 x 10 -27 kg,...
For 2012, Ontario Manufacturing Company provided the following accounting information: a. Which of the above are sources of funds? b. Which of the above are uses of funds? c. What is the overall...
What are the five key features of bonds? Explain. Show your work. If the pure expectations theory holds, what does the market expect will be the interest rate on one-year securities, four years from...
Suppose Savvy Fare sells a $1 million receivable to a factor. The receivable is due in six months. The factor charges an upfront fee of 4 percent for purchasing the receivable on a nonrecourse basis,...
A monopoly manufacturing plant currently uses many workers to pack its product into boxes. It can replace these workers with an expensive set of robotic arms. Although the robotic arms raise the...
Use the following information about the current year operations of a company to calculate the cash paid for merchandise. Multiple Choice $252.800 $239.200. $254,000 $246,000
7. The retained earnings that appear on the consolidated balance sheet of a parent company and its 60 percentowned subsidiary are: a Parent companys retained earnings plus 100 percent of the...
5. Pam Corporation acquired an 80 percent interest in Sun Corporation on January 1, 2016, and issued consolidated financial statements at and for the year ended December 31, 2016. Pam and Sun had...
For 2019, the minimum percentage of Social Security benefits that could be included in a taxpayers gross income is: a. 0% b. 25% c. 50% d. 75% e. 85%
A. Given that y = e 2x + 1 complete the table of values of y corresponding to x = 0.5, 1 and 1.5. B. Use the trapezium rule, with all the values of y in the completed table, to obtain an estimate for...
Draw a schematic using NFETs and PFETs for a restoring logic gate that implements the function = 0 if zero or two of inputs cba are true. Assume that all inputs and their complements are available.
Given forecast errors of 4, 8, and -3, what is the MAD? What is the MSE?
Padgett Rentals can purchase a van that costs $$48,000$ ; it has an expected useful life of three years and no salvage value. Padgett uses straight-line depreciation. Expected revenue is...
Rainwater Corp. expects to sell 600 umbrellas in May and 400 in June. Each umbrella sells for $$15$. Rainwaters beginning and ending finished goods inventories for May are 75 and 50 units,...
Parallel rays of light with wavelength 620 nm pass through a slit covering a lens with a focal length of 40.0 cm. The diffraction pattern is observed in the focal plane of the lens, and the distance...
Using the information in P11-2B, compute the overhead controllable variance and the overhead volume variance. Data From Problem 11-2B: Huang Company uses a standard cost accounting system to account...
31. Angel, venture capital, and private equity group investors look for much higher rates of return compared to asset based lenders and large cash flow lenders
Please show work and give the final answer Help Save & Exit Submit 10 Check my work Problem 11-19 Internal Business Process Performance Measures (L011-3) Tombro Industries is in the process of...
Ingralls sells bolts of fabric for $80 per bolt. The following sales forecast ( in bolts) for the first quarter was prepared:. January - 600 bolts; February - 1,000 bolts; March -700 bolts. cash...

6. The noncontrolling interest share that appears in the consolidated income statement is computed as follows: a

Question:

Step by Step Answer:

Advanced Accounting

Students also viewed these Business questions