User Account

All Pages

How much is the consolidated retained earnings attributable

Assignment Help Financial Accounting
Reference no: EM132651689

On January 2, 2012, D Corporation purchased 80% of the outstanding shares of C Company for P4, 750,000. At that date, C had P4, 000,000 of ordinary shares outstanding and retained earnings of P1, 600,000.

  • C's equipment with a remaining life of 5 years had a book value of P2, 250,000 and a fair value of P2, 630,000. C's remaining assets had book values equal to their fair values.
  • All intangibles except goodwill are expected to have remaining lives of 8 years.
  • The income and dividend figures for both D and C are as follows: Net income of D in 2012 is P900, 000; 2013 is P1, 100,000. Net income of C in 2012 is P340, 000; 2013 is P510, 000.
  • Dividends of D in 2012 is P220, 000; 2013 is P390, 000. Dividends of C in 2012 is P70, 000; 2013 is P130, 000.
  • D's retained earnings balance at the date of acquisition was P3, 450,000.

Questions:

Question 1. How much is the consolidated retained earnings attributable to controlling interest in 2013?

Question 2. How much is the consolidated profit in 2013?

Question 3. How much is the non-controlling interest in net assets in 2013?

Reference no: EM132651689

Questions Cloud

Elements of conflict resolution procedure : What would be the core elements of a conflict resolution procedure that you would develop? What do you think about other solutions proposed by the class?
Prepare the journal entries required to record payment : Southern B.C. Railway Tours (SBC) sells $5,000,000 of 8- year, Prepare the journal entries required to record Payment
Find how much is the consolidated net income attributable : On July 1, 2012, there was a downstream sale of equipment, How much is the consolidated net income attributable to parent shareholders' equity?
Summarize and analyze each article : Select two scholarly articles on topics relevant to systems thinking. Summarize, evaluate and analyze each article, adding your critique and insights.
How much is the consolidated retained earnings attributable : How much is the consolidated retained earnings attributable to controlling interest in 2013? How much is the consolidated profit in 2013?
Where is the best place to implement the program : Create a small prevention program that could be implemented at a health fair, at a workplace, or in a school. The goal of this assignment is to articulate.
Find the retained earnings balance at December : Question - A9-jY Corporation reported the following account balances at December 31, 2029: Find the retained earnings balance at December
Describe minimum of two strategies to encourage : Describe a minimum of two strategies to encourage your students to build the foundations of language process with students.
Explain porter model of competitive advantage : Explain Porter's model of competitive advantage and its relationship to marketing strategy and setting objectives

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