By how much will the unrealised profit decrease the profit attributable to the non-controlling interest for the year ended 30 September 20X1?

Q: Which one of the following statements is correct?   Select one: a. The net change in the…

A: Consolidated Financial statement :— The Grouping of Financial statement by the Parent Company along…

Q: Baba Plc has owned 100% of the issued share capital of Onua Plc for many years. Baba Plc sells goods…

A: The cost of goods sold represents the cost incurred in selling the goods and services to the…

Q: Ruth Ltd has a 30% investment in Abraham Ltd, which it had acquired four years ago on 1 July 2008.…

A: Journal entry:   It is the first step of recording transactions of a company. Before this, no other…

Q: On July 1, Zamora Inc. agreed to sell the assets of its Golfright Division to Benito Inc. for $71…

A: Once a division fulfills criteria to classify as a discontinued operation it shall be disclosed in…

Q: Shaun Company reports a net income of P280,000 each year and pays an annual cash dividend of…

A: given that, Shaun company reports net income = P280000 Shaun company pays annual cash dividend =…

Q: Frankie Corporation purchased 100% of Blake Company for P600,000. At that date, Blake Company had…

A: Given in the question:   Particulars Book Value Market Value Cash and Receivables…

Q: During 20X1, Blue Corporation sold products for $3,000,000 with the sales returns and allowances of…

A: Comprehensive income statement is the part of financial statement prepared to know the overall…

Q: BBB,Inc sells its unprofitable division A at a gain of $20,000. Before the sale, division A had a…

A: We know that continuing operations means the operating activities of the company which it undertakes…

Q: Canter Corporation acquired two inventory items at a lump-sum cost of $40,000. The acquisition…

A: Gross Profit = Sales - Cost   Sales can be easily calculated by multiplying the selling price by the…

Q: Planner Corporation owns 70 percent of Schedule Company's voting shares. During 20X3, Planner…

A: Introduction: The cost of goods sold refers to the direct costs of delivering the product sold by a…

Q: stribution and viewed its acquisition of Lydia as a strategic move into content ownership and…

A: The answer has been mentioned below.

Q: a. What net income would Ravine Corporation have reported for each of the years, assuming Ravine…

A: Net income is the income earned by an entity after paying tax and deducting all its expenses from…

Q: Adelman Company owns 45% of the outstanding voting common stock of Craig Corp. and has the ability…

A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: As a long-term investment at the beginning of the fiscal year, Florists International purchased 30%…

A: Classify the investments of Company FI.The investments, being recorded under the fair value method,…

Q: Platek Enterprises purchases 100 percent of Smith Company for P600,000. At that date Smith Company…

A: At the time of acquisition of another business means acquisition of assets at book values on that…

Q: On August 1, ABC Corporation acquired 80 percent of XYZ Corporation for P560,000. XYZ Corporation…

A: The goodwill is recorded as intangible assets on the balance sheet of the firm.

Q: Woolco, Inc., purchased all the outstanding stock of Paint, Inc., for $980,000. Woolco also paid…

A: 1. Prepare the journal entry to record the purchase of the Paint Inc., and the payment made for the…

Q: Nicolo manufacturing produced 10,000 Kitchen clocks in 2021 for P50 each and sold them to San Mig…

A: Consolidation In the consolidation parent company acquired the subsidiary company above the 50%…

Q: Giant Inc. acquires 10% of Small Corporation on January 1, 2010, for $90,000 when the book value of…

A: Part 1. Allocation of the consideration transferred in relation to the acquisition made on January…

Q: Palm Company owns 100% of Soso Company. During year X1, Soso sold merchandise costing $50,000 to…

A: Soso sold merchandise cost =$ 50000 profit realised on it               =$ 30000 But, 40% stock…

Q: On 1 October 2019 A-Star Co acquired 15 million of B-Star Co's 50 million shares in exchange for 40…

A: This question deals with the investment in associates. Entity is called to be an associate of of…

Q: Planner Corporation owns 70 percent of Schedule Company's voting shares. During 20X3, Planner…

A: Introduction: The cost of goods sold refers to the direct costs of providing a company's product…

Q: ABC owns 30% of MELY, which it purchased on 1 January 20X7 for $5,000,000. At that date, MELY had…

A: The corporation which has substantial amount of investment in other corporation is called parent…

Q: At the beginning of the year SassyCat acquired 30% of the outstanding common stock of LazyMouse for…

A: Formula: Book value of Assets value = Total Assets book value x percentage of shares acquired. Share…

Q: Wilson Company acquired 40 percent of Andrews Company at a bargain price because of losses expected…

A: Equity method: Equity method is the method used for accounting equity investments which claim a…

Q: The Resty company issued 200,000 new P1 ordinary shares at a fair value of P1.80 each. Resty…

A: Total expense net of tax = ( professional fees + internal management time in managing the process) x…

Q: Please answer it in next 45mins,it would be a great help. ParCorp spent $720K to acquire all of…

A: Intercompany transaction: Intercompany transaction can be defined as the exchange of resources…

Q: Goddy Company owns 80% of the common stock of Morris, Inc. In the current year, Goddy reports sales…

A: Consolidated cost of goods which are sold comes after adding the cost of goods sold of subsidiary…

Q: P company paid $3,600,000 in cash, to acquire 90%of S company on January 1, 2014. The total…

A:

Q: Ownership in Brooks Brothers Ltd. is represented by 200 000 shares of outstanding common stock on…

A: In this question, we will calculate Earnings per share for two alternatives and select that…

Q: As a long-term investment, Painters’ Equipment Company purchased 20% of AMC Supplies Inc.’s 400,000…

A: 1.

Q: At the beginning of the year, the Sean Brewery purchased a 25 percent ownership interest in Mark…

A: Book value refers to the value of an asset based on the balance sheet account balance of an…

Q: Carlos Bakery owns 60 percent of the stocks of Zeus Products acquired several years ago at book…

A: Consolidated net income is the total income earned by the whole group of companies. Any unrealized…

Q: Platek Enterprises purchases 100 percent of Smith Company for P600,000. At that date Smith Company…

A: Net assets =Common stock + Retained earnings = 15000 + 255000 = P270,000

Q: During 2012 Logic Company purchased 4,000 shares of Midi, Inc. for P30 per share. The investment was…

A: In this question, Logic company has purchased 4000 shares at P30/share of Midi Inc during 2012 out…

Q: BP (SME A) and BTS (SME B) each acquired 30% of the outstanding shares of Big Hit Corporation for…

A: Equity Method of Accounting: If an investor  owns 20–50% of the voting stock of the associate…

Q: Shaun Company reports a net income of P280,000 each year and pays an annual cash dividend of…

A: The difference between Purchase Price and Book Value is either Goodwill or Capital Reserve. When…

Q: At the beginning of the year 1, Down Under Company raises $60 million of equity and uses the…

A: Given: Year 1 dividend = $40 Million Year 2 dividend = $50 Million Year 3 dividend = $60 Million…

Q: Pentagon Company acquires 80% of Square Company for P500,000 on January 1, 2012. On that date,…

A:

Q: How much is the gain (loss) on sale at Jan 20X2?     15,000 11,500 5,000 1,500

A:

Q: Acker Company bought 100% of Howell Company on 1/1/X1 for $1,440,000 and began applying the equity…

A: Expansion and growth are motives of business. Purchasing or acquiring other firms is one of the ways…

Q: Addo Plc owns many subsidiaries and 25% of Vivian Plc. In the year ended 31 December 2018, Addo Plc…

A: Consolidation Statement- Consolidated Statement refers to the statement that final account of parent…

Q: ney Co sa wholesale orstnoutor or auto parts and uses the cash method of accountbing. The company's…

A: Here discussion about the details of the threshold limit which are related with the cash method…

Q: Should Gee Co. proceed with the acquisition of Bea Co.? yes or no? show your solution. The…

A: Economic Value added = Net operating profit after tax - Investment required x WACC

Q: Roland acquires 70% of Felix on January 1, 2011. The terms of purchase are that Roland pays to Felix…

A: Since you have posted a question with multiple sub-parts , we will do the first three sub-parts for…

Q: What amount of loss should Windy Co. recognize on Dec. 31, 20x1 if the shares were classified as:

A: If classified as FVPL:  Loss to be recognised is Investment cost  Less: Fair value of shares  If…

Q: income of P160,000 and P180,000, respectively. During 20A, Vullaby sold merchandise to Braviary…

A: Minority interest is established when someone holds less than 50% share in the company. It is…

Q: During 20X1, Blue Corporation sold products for $2,500,000 (gross amount) with the sales returns and…

A: Multiple-Step Statement of Comprehensive Income: Profit and loss statements that are divided into…

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.