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In 2019, X company (the 90%-owned subsidiary) sold merchandise to Y Company (the subsidiary) at a selling price of $80,000, the cost of goods sold $60,000. In 2020, Y Company sold the merchandise at $100,000. Net income for Y Company for 2019 and 2020 respectively: $120,000; $140,000. There is no dividend.
Instructions:
Problem 1. Calculate the Parent company from the subsidiary's net income?
Problem 2. Calculate the Minority interest from the subsidiary's net income?
Problem 3. Prepare the working paper in Journal entries format for 2015 and 2016?
A company purchased a computer on July 1, 2015 for $50,000. Estimated useful life of the computer was 5 years and it has no residual value. Calculate Depreciation for the first year using double - declining method of depreciation.
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How much money did the firm miss out on due to? underpricing? Your investment bankers price your IPO at $15.25 per share for 10.2 million shares.
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