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please solve them all please 10,11,12 Company P purchased 40% stock in Company S on Jan 1, 20X1 for $200,000. The net income of Company
please solve them all please 10,11,12
Company P purchased 40% stock in Company S on Jan 1, 20X1 for $200,000. The net income of Company S and the dividend paid by it in the year 20X1 is $80,000 and $30,000 respectively. The fair value of the P's investment the end of year 20X1 is 225,000 . Under the Fair Value method, the increase in the total net income of P related to its investment in Company S, for the year 20X1 will be Question 11 P Co. buys 90% shares in S Co. on Jan 20X1. On the date of acquisition, the equity of P and S were as follows: What amount of Non-controlling interest will be reported in the consolidated balance sheet? Question 12 1 Phips Co. purchases 100 percent of Sips Company on January 1, 20X2, when Phips' retained earnings balance is $200,000 and Sips' RE balance is $140,000. During 20X2, Sips reports $30,000 of net income and declares $8,000 of dividends. Phips reports $145,000 of separate operating earnings plus $30,000 of equity-method income from its 100 percent interest in Sips; Phips declares dividends of $35,000. What is the consolidated retained earnings balance on December 31,202 in the consolidated retained earnings statement? Company P purchased 40% stock in Company S on Jan 1, 20X1 for $200,000. The net income of Company S and the dividend paid by it in the year 20X1 is $80,000 and $30,000 respectively. The fair value of the P's investment the end of year 20X1 is 225,000 . Under the Fair Value method, the increase in the total net income of P related to its investment in Company S, for the year 20X1 will be Question 11 P Co. buys 90% shares in S Co. on Jan 20X1. On the date of acquisition, the equity of P and S were as follows: What amount of Non-controlling interest will be reported in the consolidated balance sheet? Question 12 1 Phips Co. purchases 100 percent of Sips Company on January 1, 20X2, when Phips' retained earnings balance is $200,000 and Sips' RE balance is $140,000. During 20X2, Sips reports $30,000 of net income and declares $8,000 of dividends. Phips reports $145,000 of separate operating earnings plus $30,000 of equity-method income from its 100 percent interest in Sips; Phips declares dividends of $35,000. What is the consolidated retained earnings balance on December 31,202 in the consolidated retained earnings statement Step by Step Solution
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