Solution-What amount of total liabilities should be reported

What amount of total liabilities should be reported

Assignment Help Accounting Basics

Reference no: EM132674408

Question 1: PINK Co. owns 70% of SALMON Co.'s outstanding common stock. PINK's liabilities total P 450,000, and SALMON's liabilities total P 200,000. Included in SALMON's financial statements is a P 100,000 note payable to PINK. What amount of total liabilities should be reported in the consolidated financial statements?

Reference no: EM132674408

Questions Cloud

What amount in respect of the non-controlling interest be : Financial Statements, what amount in respect of the non-controlling interest should be included in Elf Co.'s consolidated statement of financial position?

What figure in respect of pot retained earnings should be : Consolidated Financial Statements, what figure in respect of Pot's retained earnings should be included in the consolidated statement of financial position?

What is the amount of minority interest in net income : Redford Corp. has a 90% interest in White Co., while the latter has an 80% interest in Sol Corp. What is the amount of minority interest in net income?

What white should record an increase in net assets of : In a business combination accounted as purchase, WHITE Corp. issued non-voting, What WHITE should record an increase in net assets of?

What amount of total liabilities should be reported : SALMON's financial statements is a P 100,000 note payable to PINK. What amount of total liabilities should be reported in the consolidated financial statements?

What the consolidated net income for the fiscal year was : GREEN Co. has a 75% interest in LIME, Inc. declared and paid dividend in the amount of P 9,000. The consolidated net income for the fiscal year was?

Explain about the consideration transfer : How should the difference between the consideration transferred and the net assets acquired be presented in PURPLE's financial statements

What figure in respect of goodwill should now be carried : Under IFRS 3, Business Combinations, what figure in respect of goodwill should now be carried in YELLOW's consolidated statement of financial position?

Calculate the overstatement of the branch cost of sales : The branch billed for merchandise shipments at 30% above cost. Calculate the overstatement or (understatement) of the branch's cost of sales

User Account

All Pages

What amount of total liabilities should be reported

Reference no: EM132674408

Reference no: EM132674408

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT