Reference no: EM132852618
Question - PAR Inc. purchased 70% of SUBS Inc. on January 1, 2020 for $2,100,000. SUBS's common shares and retained earnings were worth $850,000 each on that date. SUBS uses the cost method internally to account for the investment.
The acquisition differential was allocated as follows:
Trademark $38,000 (which had not been previously recorded)
Inventory $10,000 (fair value in excess of book value)
The balance was allocated to goodwill. The trademark had an estimated remaining useful life of 12 years from the date of acquisition.
In 2020, PAR's net income was $300,000 and SUBS's net income was $72,000.
During 2020, SUBS declared and paid $20,000 in dividends to shareholders on record.
Required -
a) Calculate PAR's consolidated income for 2020.
b) Calculate income attributable to PAR for 2020.
c) Calculate income attributable to non-controlling interest for 2020.
d) Calculate non-controlling interest as reflected in equity at December 31, 2020.
|
Formulate a regression model
: Assume sales depend on the price and advertising expenditure. Use the data below to formulate a regression model
|
|
Record the additional activity and revised income statement
: Record the additional activity and a revised income statement for July 2018 and a revised balance sheet as of July 31, 2018
|
|
Find the? marginal-revenue equation
: Find the? marginal-revenue equation and use it to find the marginal revenue for the production of the given number of bushels.
|
|
Under performing outlets
: Ms. Dover wants to examine the data to see which, if any, stores are underperforming so that she can close under performing outlets if necessary.
|
|
Calculate income attributable to non-controlling interest
: In 2020, PAR's net income was $300,000 and SUBS's net income was $72,000. Calculate income attributable to non-controlling interest
|
|
Determining the measure of central tendency
: Which measure of central tendency (mean or median) should you report?
|
|
AF702 Strategic Financial Management Assignment
: AF702 Strategic Financial Management Assignment Help and Solution, Qualifi Ltd - Assessment Writing Service - Identify a range of business resources to meet
|
|
What is the probability of scoring higher
: A set of final exam scores in a statistics course was found to be normally distributed, with a mean of 84 and a standard deviation of 7.
|
|
Find the amount of noncash assets before liquidation
: Net loss on December 31, 2015 totaled P40,000. Hence, the partners decided to liquidate the partnership. Find the amount of noncash assets before liquidation
|