User Account

All Pages

Equity method to account for investment in seri

Assignment Help Financial Accounting
Reference no: EM132420612

Poe Corporation owns 80% interest in Seri Company acquired at book value several years ago. On January 2, 2013, Seri purchased $100,000 par of Poe's outstanding 10% bonds for $103,000. The bonds were issued at par and mature on January 1, 2016. Straight-line amortization is used. Separate incomes for Poe and Seri for 2013 are $35,000 and $120,000, respectively. Poe uses the equity method to account for investment in Seri.

  1. Controlling interest share of consolidated net income for 2013 was?
  2. Noncontrolling interest share for 2013 was?

Reference no: EM132420612

Questions Cloud

Relevant measures of company performance : Why is return on invested capital one of the most relevant measures of company performance? How do we use this measure in our analysis of financial statements?
Make the 2019 year-end statement of cash flows : Make the 2019 year-end statement of cash flows for Kia Company. (Cash outflows should be indicated with a minus sign.)
Calculate the net income or net loss for the period : During October, a firm had the following transactions involving revenue and expenses.
Prepare general journal entries to record : Karla Tanner opened a Web consulting business called Linkworks and completed the following transactions in its first month of operations.
Equity method to account for investment in seri : Separate incomes for Poe and Seri for 2013 are $35,000 and $120,000, respectively. Poe uses the equity method to account for investment in Seri.
Discuss two regulatory agencies that regulate this industry : Identify three legal requirements that relate to how products are marketed in the industry.Discuss two regulatory agencies that regulate this industry
Computing the gross profit of textron inc : What amount should Textron recognize as gross profit (the profit element) for the December 31, 20X2, fiscal year?
Record the necessary adjusting entries : Buzzard borrowed $36,000 on March 1, 2021. The principal is due to be collected in five years. Interest is receivable each March 1 at an annual rate of 10%.
Probability distributions-long-term corporate bonds : What is the probability that in any given year, the return on long-term corporate bonds will be greater than 10 percent? Less than 0 percent?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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