User Account

All Pages

How much is the amortization of goodwill

Assignment Help Financial Accounting
Reference no: EM133015699

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?

Reference no: EM133015699

Questions Cloud

How much is the carrying value of this asset : Depreciation is computed using the straight-line method. How much is the carrying value of this asset in the statement of financial position at December 31 2022
How many adults should you survey : How many adults should you survey in order to be 95% confident that your estimate is within 3% of the true population proportion of adults that will use the new
What can pena do to reduce the possibility : What can Pena do to reduce the possibility that variance analysis is outdated or obsolete? If Pena Company wants to continue using the variances
What is the project npv : The project is estimated to generate $2,650,000 in annual sales with costs of $840,000. What is the project NPV
How much is the amortization of goodwill : P Corporation paid P2,000,000 for 75% interest in S Company on January 1, 2021. How much is the amortization of goodwill for 2021
What is the value of ending inventory using full costing : During the year, Canarie produces 49,600 snow shovels and sells 44,100 snow shovels. What is the value of ending inventory using full costing
What is the irr of the project : What is the IRR of the following project - The project requires an investment of $20,000 today and will provide $5,000 one year from now
Calculate annual depreciation change : Mr. Bridi bought a lorry at original cost rm35000 and is estimated to have an expected life span of 7 years. Calculate annual depreciation change
Calculate the breakeven point of the option entered : Calculate the breakeven point of the option entered into by Gerry, and the profit/loss if at expiry the Pump Ltd share price is $37 and $45 respectively

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