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Question - P Corporation paid P2,000,000 for 75% interest in S Company on January 1, 2021. The stockholders' equity accounts of S Company included share capital of P1,000,000 and retained earnings of P725,000. Of the excess of the sum of the purchase price and NCI over book value, P125,000 is attributable to undervalued inventories (all sold in 2021) and the remainder to goodwill. S's net income for the year is P450,000 and P's net income is P1,150,000. Dividends received by P from S for the year amounted to P75,000. Both P Corporation and S Company are SMEs.
How much is the balance of NCI at the end of 2021?
How much is the Non-controlling interest in the Net Income of the subsidiary for 2021?
How much is the amortization of goodwill for 2021?
Calculate the fund's CAPM alpha. You are evaluating a stock mutual fund that is among your employer's 401k fund electives. The fund is actively managed
Companies often invest in the common stock of other corporations. The way we report these investments depends on the nature of the investment and the investor;s motivation for the investment. What is the specific citation that describes how to accoun..
the bakfirn corporation a publicly traded firm has contracted with youcpanbspyour public accounting firm for an audit.
The partnership agreement of the G&P general partnership states that Gary will receive a guaranteed payment of $14,500, and that Gary and Prudence will share the remaining profits or losses in a 45/55 ratio. Compute Gary's share of separately stated ..
Analyse and discuss the term 'buyer motivation', in relation to innovative banking products and services. Analyse and discuss issues relating to buyer motives
For the remaining, you borrow 2'300'000 at a 6% rate monthly amortized loan for 25 years. What is the annual mortgage payment in year 3?
Softcloth Textile Pty Ltd, Using the weighted average method process costing, calculate the equivalent units of conversion for the month of April.
Calculate the ending book value of the machine in 2019.The beginning book value of a machine is Rs 20000 on 1st January 2016
Journalize the transactions in ACCURAL and CASH basis. Richard Brandt graduated from York University with his BAS although he spent more time in the gym
Amortization of actuarial gains and losses: What circumstances give rise to actuarial gains and losses? What is a prior service cost? Provide an example of a plan change that would generate an amount labeled prior service cost.
On May 10, Paige Corporation issues 2,500 shares of $5 par value common stock for cash at $13 per share.Journalize the issuance of the stock.
The bonds mature in ten years. At the time of issuance, the market interest rate for similar types of bonds was 8%. What is the expected selling price of bonds
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