User Account

All Pages

How much is non-controlling interest under partial goodwill

Assignment Help Accounting Basics
Reference no: EM132743620

Question: Basahin Company acquires 80% of Mabuti Company for P600,000 on January 1, 20x8. Mabuti reported capital stock of P400,000 and retained earnings of P200,000 on that day. An equipment with 8-year remaining life was undervalued by P100,000 and buildings with 10-year remaining life were overvalued by P60,000. Any excess consideration transferred over fair value was attributable to goodwill. Based on annual review, goodwill was impaired by P12,000. In 20x8, Mabuti net income is P100,000 and paid dividends of P40,000. How much is the non-controlling interest under partial goodwill method in December 31, 20x8 consolidated financial statements?

Reference no: EM132743620

Questions Cloud

What amount should manufacturing plant be initially record : Factor Company built an item of plant manufacturing division. What amount should the manufacturing plant be initially recorded?
Explain the different types of bonds : Explain the different types of bonds and their characteristics.
Calculate the amount of severance pay : John Peterson was employed by an insurance company in, Lethbridge, Alberta since July 1986. He was earning $1800 biweekly when his employment was terminated on.
Identify the more popular types of bonds : Identify the more popular types of bonds and elaborate where necessary.
How much is non-controlling interest under partial goodwill : Basahin Company acquires 80% of Mabuti Company for P600,000 on January 1, 20x8. Mabuti reported capital stock of P400,000 and retained earnings of P200,000.
Find and record the entry for purchase : The appraised values are $135,000, $67,500, and $22,500 for land, building, and equipment, respectively. In journal provided, record the entry for purchase
What is its account receivable balance : Webster Company reported sales for 2020 of $400,000. Webster Company listed $25,000 of inventory on its balance sheet. Using a 365-day year.
How much money do you need to invest today : How much money do you need to invest today in order to be able to pay for the 4 years of college when your niece turns 18 years old
Estimate cash receipts for each month of the first quarter : Credit sales in December 2017 are expected to be $194,000. Estimate cash receipts for each month of the first quarter of 2018

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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