User Account

All Pages

Compute for nci in ni

Assignment Help Financial Accounting
Reference no: EM133010745

PRANPRIYA Company acquired a 65% interest in MANOBAL Company in 2016. For years ended December 31, 2018 and 2019, MANOBAL Company reported net income of P260,000 and P312,000, respectively. During 2018, MANOBAL Company sold merchandise to PRANPRIYA Company for P56,000 at a cost of P43,200. Two-fifths of the merchandise was later resold by PRANPRIYA to outsiders for P30,400 during 2019. In 2019, PRANPRIYA sold merchandise to MANOBAL Company for P78,400 at a profit of P19,200. One-fourth of the merchandise was resold by MANOBAL to outsiders for P24,000 during 2019.

REQUIREMENTS:

Problem 1. Compute for NCI in NI in 2018.

Problem 2. Compute for NCI in NI in 2019.

Reference no: EM133010745

Questions Cloud

Define performance management : Define performance management and a performance evaluation system.
What is the true cash balance per bank as of July : Problem - The cash account balance in the general ledger on August 31 was $50,435, What is the true cash balance per bank as of July 31
What is the median salary for the job you searched : What is the lowest salary you would be willing to accept for this job? At which point would you be completely satisfied with the pay for this job?
Compute the translation reserve- gain for the year : Compute the Translation reserve- gain (loss) for the year. The Philippine peso equivalent of retained earnings, January 1 amounted to 392,000.
Compute for nci in ni : Compute for NCI in NI in 2018. In 2019, PRANPRIYA sold merchandise to MANOBAL Company for P78,400 at a profit of P19,200. One-fourth of the merchandise
Discrimination against unvaccinated employees : John Budd conceptualizations: Curse, Freedom, Commodity, Occupational citizenship, disutility, personal fulfillment, social relations, caring for others, identi
Collective bargaining model used in canadian public service : In what ways is the collective bargaining model used in the Canadian public service distinctive from the model used in the private sector?
Compute for the consolidated equipment-net : Compute for the consolidated equipment-net. LALISA Corporation sells equipment with a book value of P160,000 to MANDU Company, its 75% owned subsidiary
Society for human resource management : Rank the three most important concepts you learned in this course in order of importance (1 being the most important).

Reviews

Write a Review

Financial Accounting Questions & Answers

  Questionzoya arbiser regional manager of gold medal sports

questionzoya arbiser regional manager of gold medal sports shops is analysis the results of 15 stores in her region.

  What ratios are most important as far as mortgage management

What ratios are most important as far as mortgage management and risk identification at the financial institutions? Be sure to give the applicable equation.

  Prepare a multiple-step income statement for fiscal year

Prepare a multiple-step income statement for fiscal year 2011. Prepare a single-step income statement for fiscal year 2011.

  What suggest if google had an annualized return yesterday

You observe that Google had an annualized return yesterday of 14%. Assuming that markets are efficient, this suggests that?interest rates fell yesterday

  Create make amex deposit trasaction

In Quickbooks to record the Amercian Express Credit card deposit for the day, and reduce the doposit by 2%. create a make Amex deposit trasaction and enter 2% in the discount Fee field. From the check register, directly enter the date, and enter the ..

  What is the amount of depreciation expense

what is the amount of depreciation expense for each of the five using the straight line method and what is the amount of depreciation expense for each of the five years using the double declining balance method?

  The future value

The future value of $400 per year for ten years at 10 percent. c. The present value of $200 per year for five years at 5 percent. d. The future value of $200 per year for five years at 5 percent.

  What are the fundamental designs inside the core of a cell

What is implied by the attractions power of a plant cell? Does pull drive work with or upset the passageway of water into the cell?

  Restricted to individuals involved in public accounting

Express your personal opinion as to whether ownership of public accounting firms should be restricted to individuals involved in public accounting.

  Compute the total current assets as of december

Merchandise worth P15,0002021 was included in the recorded as a purchase. Compute the Total current assets as of December

  What is the applied overhead for the year

Bambie Ltd. applies overheads, The actual direct labour hours used for the year turns out to be 47 000 hours. What is the applied overhead for the year?

  Prepare a single journal entry to record the incurred costs

Asset cost allocation - Prepare a single journal entry to record all the incurred costs assuming they are paid in cash on January 1, 2013 and use straight line method, prepare the December 31 adjusting entries to record depreciation for the 12 month..

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