Question: PLEASE ANSWER QUESTION SHOWING ALL WORK AND CORRECT ANSWER COMPLETELY!!! Question 1 Brady, Inc., a calendar-year corporation, acquires 80% of Austin Company on September 1,2022

PLEASE ANSWER QUESTION SHOWING ALL WORK AND CORRECT ANSWER COMPLETELY!!!

Question 1 Brady, Inc., a calendar-year corporation, acquires 80% of Austin Company on September 1,2022 , and an additional 10% on January 1,2023 . Total annual amortization of $12,000 relates to the first acquisition. Austin reports the following figures for 2023 : Without regard for this investment, Brady independently earns $450,000 in net income during 2023. All net income is earned evenly throughout the year. What is the controlling interest in consolidated net income for 2023

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

PLEASE ANSWER QUESTION SHOWING ALL WORK AND CORRECT ANSWER COMPLETELY!!! QUESTIONS 11 THROUGH 13!! Patti Company owns 80% of the common stock of Shannon, Inc. In the current year, Patti reports sales...

Explain why the answer is B. Brady, Inc., a calendar-year corporation, acquires 85% of Austin Company on September 1, 2019, and an additional 10% on January 1, 2020. Total annual amortization of...

Hello question 40 for this file and the answer is $372,850. but i try to get this answer but i couldnot it find the way if you explain to me if you explain to me ?? ch4 1. For business combinations...

please answer question 1,2,3,4,5 DA2 Risk For Students(2) (1) QSearch Sheet AutoSave FF Review View DComments Home Insert Draw Page Layout Formulas Data Share _ 4 AY Insert vA A General Calibri...

There are page 1 to 12 i need help with my assignment This is grade 12 accounting i need help with all these answers for the question paper below when answering please write it as page 1 answer page...

Please answer question 2 and please use excel. thanks! CASE 2 In 2009, David Samuelson quit his job at a large beer company to start his own brewery, Ambitious Microbrewery, Inc. (AMI). His family...

Accounting 221 questions, please help. I need QUALITY WORK and CORRECT ANSWERS. 27 QUESTIONS. ANSWER SHEET FOR QUESTION 1-7 Question 1: 30 points a. General Journal Entries Date Account Debit Credit...

Opening Statement for Defense The 1948 U.S. Presidential election was a hard fight for Harry Truman. No one thought he had a shot and the folks at the Chicago Daily Tribune didn't think so either. At...

Defense Cross Examination of Corey Hyde 1. D: \"Mr. Hyde, is it true when you originally acquired your position as Avery Bancroft's assistant at the Black Bear Casino, you were not thrilled at the...

CLOSING ARGUMENTS A Closing Argument should: 1. Repeat your theory and theme of the case 2. Summarize the evidence that preceded it 3. Relate the evidence to the law and the legal issues (i.e....

The values of Total SS and SST for the experiment in Exercise 11.4 are Total SS = 473.2 and SST = 339.8. a. Complete the ANOVA table for Exercise 11.4. b. How many degrees of freedom are associated...

Total emissions of carbon dioxide from the burning of fossil fuels have been increasing at about 6% per year (data from 2010 to 2011). If emissions continue to increase at this rate, about how much...

The difference between bulimia neryosa purging type and non - purging type is that non - purging type A ) is at greater risk for emotional problems. B ) has earlier onset than purging type. C )...

Projects A and B are mutually exclusive and both have an initial cost of $88,000. Project A has annual cash flows for three years of $18,300, $34,500, and $52,300, respectively. Project B has annual...

8-6 Who poses the biggest security threat: insiders or outsiders?

8-12 In MyMISLab, you will find a Collaboration and Teamwork Project dealing with the concepts in this chapter. You will be able to use Google Drive, Google Docs, Google Sites, Google+, or other open...

8-14 Describe some of the main points of the Digital Agenda for Europe. The IT sector is one of the key drivers of the European economy. It has been estimated that 60 percent of Europeans use the...