How is the effect of unrealized intercompany profits on consolidated net income different between an upstream and
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (15 reviews)
Consolidated net income is reduced by the amount of unre...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Advanced Financial Accounting
ISBN: 978-0078025624
10th edition
Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker
Question Posted:
Students also viewed these Accounting questions
-
Find the payment amount p needed to amortize the given loan amount. Assume that a payment is made in each of the n compounding periods per year. P = $75,000; r = 9%; t = 14 yr, compounded annually...
-
How do unrealized intercompany profits on a downstream sale of inventory made during the current period affect the computation of consolidated net income and income to the controlling interest?
-
Is the effect of unrealized profit on consolidated cost of goods sold influenced by (a) The existence of a noncontrolling interest and (b) The direction of intercompany sales?
-
Panamint Candy Company prepared the following amortization table for $300,000 of 5-year, 9% bonds issued and sold by Panamint on January 1, 2021, for $285,000: Required: 1. Prepare the entry to...
-
Convert to decimal notation. (a) 7.6 105 (b) 3.4 10-6 (c) 1.09 10-7
-
Photoelectron spectroscopy can be used to determine the energies of atomic orbitals by measuring the energies required to remove electrons from them. The following peaks were observed in the...
-
Table 3.4 on page 208 shows the number of points scored and penalty minutes for 24 ice hockey players on the Ottawa Senators NHL team for the 2014-2015 season. The data are also stored in...
-
What is conceptually the most defensible method for allocating support-department costs? Why?
-
Let A = 0 -1 -2 -1 [0 2 -4 -2 Find a basis of nullspace(A).
-
Silver Star Mountain Resort is a ski resort northeast of Vernon in British Columbia. Besides maintaining well-groomed ski runs, the company sells lift tickets, ski lessons, and ski equipment. It...
-
What dollar amounts in the consolidated financial statements will be incorrect if intercompany services are not eliminated?
-
A subsidiary sold a depreciable asset to the parent company at a profit in the current period. Will the income assigned to the noncontrolling interest in the consolidated income statement for the...
-
What are the advantages of having an ethics office or officer report to a company's chief executive officer, the legal department, human resources, audit, or directly to the board of directors? What...
-
Recent events have once again shaken and stirred the memory of the nation. Almost immediately after the Civil War, a myth arose painting the conflict with a brush that attempted to blur the lines...
-
3. Assume that the web-hosting service industry is pertectly competitive and that all web-hosting service providers are identical. Also assume that web-hosting services occur at datacenters that...
-
Country A is endowed with 18 units of good x and 1 unit of good y, while country B is endowed with 2 units of good x and 7 units of good y. Both countries consume x and y in fixed and equal...
-
Risk of entry Bargaining power of suppliers Bargaining power of buyers Threat of substitutes Power of complement providers Rivalry among established firms in industry Which of the above forces are...
-
Part 1: How long does it take for an investment to double in value if it earns (a) 4%, (b) 6%, (c) 9%, (d) 12%, (e) 15% annual compound interest? Solve above using method of 1) Interpolation (Using...
-
How was SET adapted to integrated circuit cards?
-
The Ferris wheel in the figure has a radius of 68 feet. The clearance between the wheel and the ground is 14 feet. The rectangular coordinate system shown has its origin on the ground directly below...
-
On 31 January 2013 T Tripps bank statement showed an overdrawn balance of 111. However, the cash book contained two items that were not on the bank statement. There were unpresented cheques totalling...
-
Select the correct answer for each of the following questions. Amber Corporation holds 80 percent of the stock of Movie Productions Inc. During 20X4, Amber purchased an inventory of snack bar items...
-
Select the correct answer for each of the following questions. Amber Corporation holds 80 percent of the stock of Movie Productions Inc. During 20X4, Amber purchased an inventory of snack bar items...
-
Nordway Corporation acquired 90 percent of Olman Companys voting shares of stock in 20X1. During 20X4, Nordway purchased 40,000 Playday doghouses for $24 each and sold 25,000 of them to Olman for $30...
-
Develop a SWOT analysis of Coles potential business. b. Can Cole be profitable and if so, in what period of time? c. What are the major business assumptions that require verification? d. Does Cole,...
-
The current temperature is 12 oC and the dew point is -29 oC. What is the relative humidity in percentage? Answer to one decimal place. The current temperature is 12 oC and the dew point is -29 oC....
-
The density of the block depends on what material the block is made out of. The table below shows the average densities for 3 different kinds of Earth materials. Using these data, calculate the...
Study smarter with the SolutionInn App