On January 1, 20X5, Big Ltd. purchased 80% of the shares of Small Ltd. for $ 1,400,000
Question:
There were no intercompany transactions.
Required
Calculate the balance of non-controlling interest as it would be shown on the consolidated SFP of Big Ltd., at December 31, 20X5, under the entitymethod.
Transcribed Image Text:
At January 1, 20x5 Big Ltd Small Ltd. maller Ltd. Shares Retained earmings 1,950,000 2,300,000 $4,250,000 1,600,000 1,910,000 3,510,000 500,000 730,000 1,230,000 During 20X5 Net income (cost basis) Dividends paid $800,000 120,000 $600,000 100,000 $300,000 40,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 63% (11 reviews)
Noncontrolling interest on Bigs consolidated statement of financial position will consist of two com...View the full answer
Answered By
Benish Ahmad
I'm a professional software engineer. I'm lectutrer at GCUF and I have 3 years of teaching experience. I'm looking forward to getting mostly computer science work including:
Programming fundamentals
Object oriented programming
Data structures
object oriented design and analysis
Database system
Computer networks
Discrete mathematics
Web application
I am expert in different computer languages such as C++, java, JavaScript, Sql, CSS, Python and C#. I'm also have excellent knowledge of essay writing and research. I have worked in other Freelancing website such as Fiverr and Upwork. Now I have finally decided to join the SolutionInn platform to continue with my explicit work of helping dear clients and students to achieve their academic dreams. I deliver plagiarism free work and exceptional projects on time. I am capable of working under high pressure.
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Advanced Financial Accounting
ISBN: 978-0137030385
6th edition
Authors: Thomas Beechy, Umashanker Trivedi, Kenneth MacAulay
Question Posted:
Related Video
It is the equity interest of outside investors other than of parent. In other words it is the equity in a subsidiary not attributable, directly or indirectly, to a parent. Non-controlling interest should be presented in the consolidated statement of financial position within equity, separately from the parent shareholders\' equity.
Students also viewed these Accounting questions
-
A company is translating account balances from another currency into dollars for its December 31, 20X5 statement of financial position and its calendar year 20X5 earnings statement and statement of...
-
On December 31, Year 1, P Company purchased 80% of the outstanding shares of S Company for $7,900 cash. The statements of financial position of the two companies immediately after the acquisition...
-
In the early part of 2013, the partners of Page, Childers, and Smith sought assistance from a local accountant. They had begun a new business in 2012 but had never used an accountants services. Page...
-
Rounding up the number of contributions to the next integer, how long will it take an RRSP to surpass $100,000, if it takes in end-of-quarter contributions of $3000 and earns 6% compounded quarterly?
-
The figure below shows a series of standard additions of Cu 2+ to acidified tap water measured by anodic stripping voltammetry at an iridium electrode. The unknown and all standard additions were...
-
What conditions for the binomial distribution, if any, fail to hold in the following situations? (a) For each of a company's eight production facilities, record whether or not there was an accident...
-
Consider the cubic polynomial P3(x) = 1 + x-2x + x, and rewrite it by the following polynomial: 3 93(x) = a; (x 1). j=0 Do so by determining the unknown constants a; for all j = {0, 1, 2, 3}. Use...
-
John Little who is single is a new client of yours that has come to you with several tax issues with which he needs your help. He is an engineer that has his own practice for which he files a...
-
Qorp Ltd. has the following SFP at December 31, 20X5. Qorp Ltd. Statement of Financial Position December 31, 20X5 On January 1, 20X6, Zip Ltd., whose assets are composed entirely of share investments...
-
Parent Ltd. pays $ 550,000 cash for 70% of the outstanding voting shares of Sub Ltd. on January 1, 20X5. The following information was available: During 20X5, Sub Ltd. earned $ 180,000 and paid no...
-
A handbook lists the aqueous solubility of CaSO 4 at 25 C as 0.20 g CaSO 4 /100 mL. What is the K sp of CaSO 4 at 25 C? CaSO4(s) = Ca+ (aq) + SO4 (aq) Ksp ?
-
Calculate the potential financial impact of cannibalization for MC's megastores (please make the projection and comparison for the upcoming year of 2018 for this question).
-
Provide the investor company's balance for an "Investment in Investee" account immediately following the acquisition of the investee's net assets.
-
Consider the 50/30/20 rule as you review Sophia's budget details worksheet. Share with the class what Sophia should consider to improve her financial situation and save more money. Be creative with...
-
Question 4 Shown below are budgeted sales for Dadich Company: November December January February March Budgeted Sales $83,000 $96,000 $47,000 $63,000 ? 20% of the company's sales are cash sales and...
-
For this journal, begin putting together your ideas for your portfolio, which will be submitted at the end of this course. Once you have reviewed the assignment details and instructions, post your...
-
If the appropriate discount rate for the following cash flows is 14 percent compounded quarterly, what is the present value of the cash flows? Year 1234 Cash Flow $ 800 700 0 1,200
-
President Lee Coone has asked you to continue planning for an integrated corporate NDAS network. Ultimately, this network will link all the offices with the Tampa head office and become the...
-
How do managers reinforce corporate culture?
-
What additional element is included in the qualitative characteristics by PSAB? Why was it included?
-
Are government auditors required to report in accordance with the PSABs recommendations?
-
How is the public sector defined by PSAB?
-
Discuss the merits of the each standard (2g, 3g & 4g), including the advantages and disadvantages of each with respect to planning , deployment and the services they are able to provide.
-
Consider a dataset with the following 7 data points: {(3, +1), (2,+1), (-1,-1), (0,-1), (+1,-1), (+2, +1), (+3, +1)} Consider mapping these points to 2 dimensions using the feature vector (x) = (x,...
-
You borrow $3,500 and will pay back the entire amount in 5 years. You are charged 9 percent interest per year. How much interest do you pay on this loan?
Study smarter with the SolutionInn App