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1) Lebron Co. owns most but not all of the shares of its subsidiary Bryant Inc. ebron reported net income of $124,700. The amount to be attributed to the non controlling inert in Bryant is $30,000. Indicate how Lebron will report the non controlling interest in its income statement.
2) During 2014 Liselotte Company earned income of 1,500,000 before income taxes and realized a gain of $450,000, on a government-forced condemnation sale of a division plant facility. The income is subject to income taxation at a rate of 34%. The gain on the sale of the plant is taxed at 30%. Proper accounting suggests that the unusual gin be reported as an extra ordinary item. Illustrate an appropriate presentation of these items in the income statement.
What characteristics must the convertible bonds display in order to justify the accounting treatment followed on initial recognition and how was the portion of the bonds assigned to debt on initial recognition valued
The company presently operates the machine for a single eight-hour shift for 22 working days each month. Management is thinking about operating the machine for two shifts, which will increase its productivity by another eight hours per day for 22 day..
A plant asset was purchased on January 1 for $100,000 with an estimated salvage value of $20,000 at the end of its useful life. The current year's Depreciation Expense is $10,000 calculated on the straight-line basis and the balance of the Accumulate..
Determine the investment’s net present value, the internal rate of return and payback period. All key assumptions should be specified and explained.
Management is considering preparing a break even analysis. It's fixed costs are $100,000 and variable costs per unit are $10.00. They are considering production levels of 50,000 units and 100,000 units. For both levels of production, calculate per un..
When Mary Potts arrived at her store on the morning of January 29, she found empty shelves and display racks; thieves had broken in during the night and stolen he entire inventory. Accounting records showed that inventory costing $50,000 on Jan 1. es..
the average medicare rate for each case is 6200- use this as the baseline. commercial insurances average 110 of
clarke company uses the periodic inventory method and had the following inventory information available unitsunit
Musical earned $308,000 in net income 2011(not including any investment income) while martin reported $126,000. Assume there is no amortization related to the original investment. Prepare consolidated net income for 2011 and show all the work.
Paragon Products sells a special kind of navigation equipment for $1,200. Variable costs are $900 per unit. When a special order arrived from a foreign contractor to buy 40 units at a reduced price of $1,000 per unit, there was a discussion among man..
Classify Costs associated with manufacturing firms, merchandising firms or service firms
suppose you own a movie rental theater and most of your costs(the film rental, security, security, the building rental, etc) are independent of how many people show up. What is likely to be the point elasticity of demand at the price you decide to..
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