What changes will need to be made to the nci journal entries

Assignment Help Financial Accounting
Reference no: EM132980468

Question - Parent acquired 60% the shares of Subsidiary for $1000. On 1 Jul 2017. If the acquisition date was 1 Jul 2017, the subsidiary has a patent that is not recorded on fair value,

In 01 Jul 2017

Share Capital 100

General Reserve 200

Retained Earnings 300

In Subsidiary book, the patent was recorded at $10,000; the fail value is 12,000, and patent is assessed as indefinite useful life.

Consolidation Date: 30 June 2020.

In June 2020, if the patent was fully impaired and not on hand any more, what changes will need to be made to the NCI journal entries.

Reference no: EM132980468

Questions Cloud

Determine the average cost per dog-day : In July, when dog-days were at a capacity level of 4,500, the average cost per dog-day was $10. Determine the average cost per dog-day
Explain what has experience been with patient involvement : Explain what has experience been with patient involvement in treatment or healthcare decisions? Changes in culture and technology have resulted in patient
What are real options in capital budgeting : The firm's cost of capital is 10%. What are real options in capital budgeting? Give two examples of the type of options available in capital budgeting
Describe the different forms of collective behavior : Describe the different forms of collective behavior, and explain why people participate in collective behavior. Is all collective behavior bad for society
What changes will need to be made to the nci journal entries : In June 2020, if the patent was fully impaired and not on hand any more, what changes will need to be made to the NCI journal entries
Explain alterations in cardiovascular functioning associated : As a nurse educator, you will be giving an in-service, Explain the alterations in cardiovascular functioning associated with the disorder you have chosen.
What would maintain-its minimum bid price per year : The tax rate is 25% percent and Maintain-it's cost of capital is 10 percent. What would Maintain-its minimum bid price per year
Discuss responsibilities of international organizations : As the number of international migrants, Discuss the responsibilities of international organizations in providing health support for refugees and migrants.
What stock price would you estimate for the firm now : If APPLE maintains this higher payout rate in the future, what stock price would you estimate for the firm now? Should APPLE raise its dividend

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd