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Question - Based on what we have learned in Chapter 1 and in prior accounting classes, plus searching the FASB ASC Topic 810 on consolidation, answer the following questions:
1) Explain what are protective nontrolling rights, and what are substantive participating noncontrolling rights.
2) What noncontrolling rights overcome the presumption that all majority-owned investees should be consolidated?
3) P Company purchases 70% of the voting rights of S company with the remaining 30% noncontrolling interest held by S' former owners, who negotiated the following noncontrolling rights:
a) Any new debt above $1 million must be approved by the 30% noncontrolling shareholders.
b) Any dividends or other cash distributions to owners in excess of customary historical amounts must be approved by the 30% noncontrolling shareholders. According to the FASB ASC, what are the issues in determining whether P should consolidate A or report the investment under the equity method.
Four different brands of a pain medication used for chronic back ailments were tested to see if the number of side effects for each brand were the same. The table below lists the results of the reported number of side effects for each brand of pa..
Prepare a revised aging schedule showing ages of the accounts receivable after the write-offs. Be very careful with your dates. [Hint: Be sure to reflect the write-offs taken in E above, in the correct age category].
Then on February 27, Bill stops by your office and hands you an "addendum" to the minutes of the director's meeting held December 15 of the tax year.
Compute Bramble's weighted-average accumulated expenditures for interest capitalization purposes. Prepare the journal entry to record the exchange
the perfect tool company produced 80000 saw blades during the year. it took 1.5 hours of labor per blade at a rate of
On 1 May 2016, Noah issues 9%, 20-year debentures with a maturity value of $200 000. Journalise the issue of the debentures on 1 May 2016
general electric capital a division of general electric uses long-term debt extensively. in early 2002 ge capital
Determine the average rate of return on the equipment, giving effect to straight-line depreciation on the investment
Related rental income from certain subleases to others is estimated to average
What is the yield to maturity earned by the investor on the purchase of these two short-term bonds
Refer to Quick Check (8). If fixed costs for the period are $90,000, what is the break-even point in dollars?
Your company spent $5,000 for building modifications to provide access required by the Americans with Disabilities Act.
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