Question: Why is net incomenoncontrolling interest deducted before arriving at net income?

Why is net income–noncontrolling interest deducted before arriving at net income?

Step by Step Solution

★★★★★

3.36 Rating (165 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

If a firm consolidates subsidiaries that are not wholly owned the ... View full answer

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

Document Format (1 attachment)

Word file Icon

139-B-A-I-S (680).docx

120 KBs Word File

Students Have Also Explored These Related Accounting Questions!

Q:

Why is net income a good place to start when attempting to determine the cash flows from operating activities using the indirect method? Why is it not the same as the net cash flow from operating...

Q:

4) In the table below, identify the following items as being insulating, semiconducting, or metallic in the electrical conductivity column. Identify the bonding in the material as being van der...

Q:

Why is net income for the current period not fully informative about manager effort for that period?

Q:

Goodwill, Equity Method, Eliminating Entries, First Year On January 1, 2023, Playtel Inc. acquired 75 percent of the stock of San Jose Cable for $200 million in cash. At the date of acquisition, the...

Q:

Goodwill, Equity Method, Eliminating Entries, First Year On January 1, 2020, Playtel Inc. acquired 75 percent of the stock of San Jose Cable for $200 million in cash. At the date of acquisition, the...

Q:

Consolidation Eliminating Entries, Date of Acquisition and Two Years Later Plaza Hotels acquired a 90 percent interest in Stardust Casinos on January 1, 2023 for $51,100,000. The fair value of the 10...

Q:

Goodwill, Equity Method, Eliminating Entries, First Year On January 1, 2023, Playtel Inc. acquired 75 percent of the stock of San Jose Cable for $200 million in cash. At the date of acquisition, the...

Q:

Goodwill, Equity Method, Eliminating Entries, First Year On January 1, 2023, Playtel Inc. acquired 75 percent of the stock of San Jose Cable for $200 million in cash. At the date of acquisition, the...

Q:

Consolidation Eliminating Entries, Date of Acquisition and Two Years Later Plaza Hotels acquired a 90 percent interest in Stardust Casinos on January 1, 2020 for $51,100,000. The fair value of the 10...

Q:

Goodwill, Equity Method, Eliminating Entries, First Year On January 1, 2020, Playtel Inc. acquired 75 percent of the stock of San Jose Cable for $200 million in cash. At the date of acquisition, the...

Q:

Steam at 7 MPa and 400C enters a two-stage adiabatic turbine at a rate of 15 kg/s. Ten percent of the steam is extracted at the end of the first stage at a pressure of 1.8 MPa for other use. The...

Q:

Consider a steady-flow heat exchanger involving two different fluid streams. Under what conditions will the amount of heat lost by one fluid be equal to the amount of heat gained by the other?

Q:

Consider the system depicted in the block diagram in Figure 11.38. This system is: a. Controllable, observable b. Not controllable, not observable c. Controllable, not observable d. Not controllable,...

Q:

The 30-lb uniform plate has the indicated velocities at corners A and B. What is the angular momentum of the plate about the mass center G? 10 ft/sec A 4' y L--x G. 2' YUB

Q:

The American Scientist (JulyAug. 1998) published a study of the relationship between self-avoiding and unrooted walks. In a self-avoiding walk you never retrace or cross your own path, whereas an...

Q:

A machine that fills beverage cans is supposed to put 12 ounces of beverage in each can. The variance of the amount in each can is 0.01. The machine is moved to a new location. To determine whether...

Q:

A new material is being tested for use in the manufacture of electrical conduit, to determine whether it will reduce the variance in crushing strength over the old material. Crushing strengths are...

Q:

Why is cold calling considered to be an acceptable sales practice, but spamming isnt?

Q:

Why is quality a critical function at Frito-Lay?

Q:

State the generally accepted accounting principle applicable to the balance sheet valuation of each of the following assets. (a) Trade accounts receivable. (b) Land. (c) Inventories. (d) Trading...

Q:

Refer to the definition of assets on page 180. Discuss how a leased building might qualify as an asset of the lessee (tenant) under this definition.

Q:

Refer to the definition of assets on page 180. Discuss how a leased building might qualify as an asset of the lessee (tenant) under this definition.

Q:

Consider a standard 5-stage MIPS pipeline with full hazard detection and forwarding support. Lower- case letters indicate a stalled pipeline stage. Assuming that the only stalls shown are due to data...

Q:

16. Simplify the following functional expressions using Boolean algebra and its identities. List the identity used at each step. a) z (w + x) + wxz + wxyz + wxyz b) y(xz + xz) + z (x + y) c) x(yz +...

Q:

Extra credit question (25 points) 3. While we have seen the popular version of Bayes theorem for calculating point estimates for conditional probabilities, the same equation can be used for...