Consolidated income statement of push company

Assignment Help Accounting Basics
Reference no: EM13148989

In the consolidated income statement of Push Company and its subsidiary, Shove Corporation, the noncontrolling interest was assigned $24,000 of income for 2009. What amount of net income did Shove report for 2009 if Push owns 80 percent of Shove?

A. $144,000.

B. $120,000.

C. $30,000.

D. $19,200

Reference no: EM13148989

Questions Cloud

Discretionary distributions of income and principal : Determination of Beneficiary's Income. A trust is authorized to make discretionary distributions of income and principal to its two beneficiaries, Roy and Sandy.
Explain the protons that give rise to the signal : The protons that give rise to the signal at 7 ppm are more shielded than the protons that give rise to the signal at 9 ppm. B) The protons that give rise to the signal at 7 ppm are less shielded than the protons that give rise to the signal at 9 p..
What is the haplotype of a normal person : What is the haplotype of a normal person? A haplotype of a person with the disorder?
Hire another employee or buy another copier : they added five workers, and productivity also increased by 50,000 pages per day. Copiers cost about twice as much as workers. Would you recommend they hire another employee or buy another copier?
Consolidated income statement of push company : In the consolidated income statement of Push Company and its subsidiary, Shove Corporation, the noncontrolling interest was assigned $24,000 of income for 2009. What amount of net income did Shove report for 2009 if Push owns 80 percent of Shove?
What is the chance for their children to have the trait : Hemophilia is a sex-linked trait. A normal woman whose father has a hemophilia marries a normal man. What is the chance for their children to have the trait? Give the full explanation - genotypes of all involved.
Analyze how inflation could occur in a society that relies : Analyze how inflation could occur in a society that relies exclusively on barter versus money. Speculate what form inflation would take and how you would recognize it. Provide support for your response.
Determine the possible relative market shares : Determine to the extent possible the relative market shares of these firms. Discuss the degree of concentration in the industry using CR4, other n-firm concentration ratios, H-H indices, etc.
Determining net long-term capital gain : An individual has a $30,000 § 1245 gain, a $85,000 § 1231 gain, a $55,000 § 1231 loss, a $30,000 § 1231 lookback loss, and a $80,000 long-term capital gain. The net long-term capital gain is:

Reviews

Write a Review

Accounting Basics Questions & Answers

  Expenditures for supplies

During the year the City ordered and received $4,000 of supplies (of which $3,000 had been paid and $1,000 was unpaid) and had $500 of outstanding purchase commitments for supplies at year-end. In the Statement of Budget to Actual, the expenditure..

  Marital systems of a country

Briefly discuss the economic, political, educational, family, and marital systems of a country of your choice. When doing business in the chosen country, what kind of social hierarchies and social interactions should you be aware of?

  Basics of manufacturing overhead budget

All other fixed manufacturing overhead costs represent current cash flows. The January cash disbursements for manufacturing overhead on the manufacturing overhead budget should be:

  Problem relating to depreciation expense

Bateman Corporation sold an office building that it used in its business for $800,000. Bateman bought the building ten years ago for $600,000 and has claimed $200,000 of depreciation expense. What is the amount and character of Bateman's gain or l..

  List the advantages of each emphasis

Assume that you and two friends are debating whether to open an automotive and service retail chain that will be called Auto-Mart. Initially, Auto-Mart will open three stores locally.

  Describe the financial statement misstatements

For inadequacies in internal controls describe the financial statement misstatements that may arise, and describe how they may occur.

  Market value of the stock concept

A corporation has 50,000 shares of $28 par value stock outstanding that has a current market value of $160. If the corporation issues a 4-for-1 stock split, the market value of the stock will fall to approximately

  Warranty expenditures during the year

In the current year, Hanna Company reported warranty expense of $183,000 and the warranty liability account increased by $28,000. What were warranty expenditures during the year?

  Claiming dependents for taxation

Danni, who is single, maintains a home in which she, her 15-year old brother, and her 21-year old niece live. Danni provides the majority of the support for her brother, her niece, and her cousin, age 18, who is enrolled full-time at teh universit..

  Service revenue-accounts receivable-interest expense

The bookkeeper for Wooster Company asks you to prepare the following accrued adjusting entries at December 31. Interest on notes payable of $400 is accrued.

  Annual ammortization of goodwill for acquisition

Short Corporation purchased Hathaway, Inc. for $52,000,000. The fair value of all Hathaway's identifiable tangible and intangible assets was $48,000,000. Short will amortize any goodwill over the maximum number of years allowed. What is the annual..

  Compute the ending inventory

Using the retail method (this method estimates lower-of-average-cost-and-market), compute the ending inventory at cost as of January 31, 2005. Make sure your answer is in good form with clearly labelled amounts.

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!

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