User Account

All Pages

Calculate the nci share of b ltd as at june

Assignment Help Accounting Basics
Reference no: EM132783396

B Ltd purchased an asset for $200 000 on 1 July 2015. This asset has a five year life and is depreciated straight line for both accounting and taxation purposes. B Ltd sold this asset to A Ltd on 1 Jul 2017 for $150 000. A Ltd owns 80% of the share capital of B Ltd. For the year ended 30 June 2019, B Ltd made an after tax profit of $500 000. The company tax rate is 30%.

Required:

problem 1: Prepare the consolidation journal entries for 2018 and 2019 to adjust for this asset sale, and calculate the NCI share of B Ltd as at 30 June 2019.

Reference no: EM132783396

Questions Cloud

How do organizations calculate various costs : Meaning of Calculations: How do organizations calculate various costs, and what do these calculations mean to business?
Describe ethical dilemma : Describe an ethical dilemma that you experienced, or have witnessed in a change leader, when attempting to initiate change.
How do organizations calculate various costs : How do organizations calculate various costs, and what do these calculations mean to business?
What are heuristic functions and informed search strategies : Write a 3-page paper (1000 words): What are heuristic functions and informed search strategies. Provide examples and present your written findings.
Calculate the nci share of b ltd as at june : Prepare the consolidation journal entries for 2018 and 2019 to adjust for this asset sale, and calculate the NCI share of B Ltd as at 30 June 2019.
Discuss about the several agile events : There are several agile events. If you have to eliminate one to save time for the team, which one would you recommend to be a candidate for removal and why?
Benefits manager for local telecommunications organization : Assume the role of a consultant advising a benefits manager for a local telecommunications organization.
Which statement in respect of accounting for income tax true : Which statements in respect of accounting for income tax is true? If the differences between the carrying amount of an asset or liability and its tax base
Describe the intervention to be implemented : After identifying the public health issue or need, often an intervention is designed as part of the program to begin addressing and delivering resources to the.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Basic and diluted earnings per share

Compute Brisbane's basic and diluted earnings per share for 2006.

  Provide a definition of strategic inflection point

Evaluate the strategy, business models, and competitive advantage and provide a definition of strategic inflection point and provide at least two examples

  On december 31 2010 abc company sold property to xyz

on december 31 2010 abc company sold property to xyz company in exchange for a 3 year 3 promissory note in the face

  What is the budgeted dollar amount of merchandise purchases

The beginning inventory of electronic toys is expected to be $9,000. What is the budgeted dollar amount of merchandise purchases for November

  Prepare cook company journal entries

On January 1, 2013, Cook Textiles leased a building with two acres of land from Peck Development. Prepare Cook Company's journal entries related to the lease

  Accounting 101 Financial Accounting Assignment Problem

Accounting 101 Financial Accounting Assignment Help and Solution, Santiago Canyon College, USA.

  What consolidation entries are required

The subsidiary has $8,500 of the good purchased at the end of the year. What consolidation entries are required

  Standard costs for products or services

Once standard costs for products or services have been developed:

  Who is liable for the loss of the sixty cases of corn

Brown, located in Knoxville, contracted to buy sixty cases of Lovely Brand canned corn from Clark in Toledo at a contract price of $600.

  What is the nature of the balance in the prepaid insurance

What is the nature of the balance in the prepaid insurance account at the end of the accounting period? (a) Before adjustment?(b) After adjustment?

  Compute the amount the dealer will pay for the speakers

In a cash receipts journal, both the Accounts Receivable Credit column and the Cash Debit column were mistakenly underadded by $700.

  Assume the partnership income sharing agreement

Assume the partnership income-sharing agreement calls for income to be divided 45% to Guillen and 55% to Williams. Prepare the journal entry to record the allocation of net income.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd