Answered step by step
Verified Expert Solution
Question
1 Approved Answer
How do we calculate the NCI (income statement and balance sheet) when there are intercompany profits/losses to be reported using the equity method? Say Parent's
How do we calculate the NCI (income statement and balance sheet) when there are intercompany profits/losses to be reported using the equity method?
Say Parent's share of Cons Income is $141,260 and there is upstream unrealized profit of $13,200 and upstream realized profit of $6,000 and total amortization of AD of 43,000 (entity method).
Sub's net income is $130,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started