Marie Co. acquired inventories on May 1, 2019, from its 70% owned subsidiary, Paz Company. The inventories

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

Question:

Marie Co. acquired inventories on May 1, 2019, from its 70% owned subsidiary, Paz Company. The inventories were sold for P94,000, including the 25% mark up on cost. Out of these inventories, 65% were sold to outsiders. During the year, Marie reported net income of P215,000 and Paz reported net income of P140,000. How much is the realized profit to be allocated to non-controlling interest in 2019?

Posted Date: May 13, 2024 07:52 AM

See More Questions

Consider a particle with charge q, mass m, and spin s, in a uniform magnetic field B 0 . The vector potential can be chosen as (a) Verify that this vector potential produces a uniform magnetic field...
At the instant shown, link AB has angular velocity AB . If each link is considered as a uniform slender bar with weight density , determine the total kinetic energy of the system. Given: @AB 2 rad Y...
Access Microsofts website (www.microsoft.com) to find a calendar template for Excel. (Enter Excel calendar template in the search box on the Microsoft web page.) How many Excel calendar templates are...
Assume FCFs are $2 million for two years (FCF1 and FCF2) and FCFs grow 3% thereafter. Assume WACC = 7%. Calculate firms value
Lsawn Spray Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On January 31 of the current year, Lawn Spray Inc. reacquired 50,000 shares of its common stock at...
3. Using the data provided for ABC Company for the months of January through June 2025, answer questions a, b and c below. Indirect labor hours Cost January 400 $6,000 February 500 $7,000 March 600...
Question 11 Problems associated with the thawing of permafrost include all of the following, EXCEPT: O contributing to climate refugees O unstable ground O movement of pests southward and downslope O...
10) + | ) |")= 1 22 Hn H out) = -100) (4) x (n inputs) y (10) 1))) Uf X Given that |in)= 10) |0)|1) 1 |') = (1000) 1001) + 1010) [011) + |100) [101) + |110) - [111)) 22 y f(x) |") Hn (1001)-1000) +...
2. Write a recursive definition of i -j (integer subtraction), where j> 0 and i>j. Define the subtraction process in term of decrementing by 1. For example, 7-4 is equal to 7 subtracted by 1 four...
You are the architect of an all-new boxing tournament and you intend to experiment with a new weight categorization system that encourages healthy training practices. To beat the old pen-and-paper...
CIS 1250 PYTHON PROGRAM5 -GRAPHICAL USER INTERFACE Turn in Requirements: 5 pts. Name your project LastnameP9, such as JoeP10. Program Requirements: 1. 5 pts. Write the file name, your name, email...
4. Explain what an arbitrageur would do in the following cases and how the arbitrage strategy would have no liabilities at expiration or when it is closed: a. The price of an ABC 40 call, expiring at...

Marie Co. acquired inventories on May 1, 2019, from its 70% owned subsidiary, Paz Company. The inventories

Question:

Expert Answer:

Students also viewed these accounting questions