What is consolidated net income

Assignment Help Accounting Basics
Reference no: EM132868194

Question - P Inc. owns S Corp. For the current year, P reports net income (without consideration of its investment in S) of $185,000 and the subsidiary reports $105,000. The parent had a bond payable outstanding on January 1 with a carrying amount of $209,000. The subsidiary acquired the bond on that date for $196,000. During the current year P reported interest expense of $18,000 while S reported interest income of $19,000 both related to the intra-entity bond payable. What is consolidated net income?

Reference no: EM132868194

Questions Cloud

Regulatory schemes for funding healthcare programs : What are the different regulatory schemes for funding healthcare programs?
Effectiveness of electric fan supply chain process : Describe how lean production principles may be used to maximize the efficiency and effectiveness of the electric fan supply chain process.
Decrease cigarette smoking : The department of health and human services has announced grant for health centers like yours to run any one of the following three health promotion programs
Carry out a critical evaluation of the benefits : Lyft has appointed you as a consultant, once the current coronavirus pandemic is over, the company is considering investing overseas in Southeast Asia as global
What is consolidated net income : During the current year P reported interest expense of $18,000 while S reported interest income of $19,000. What is consolidated net income
Shifts the responsibility for saving for retirement : Retirement is one of the last things on young employees' minds. But it should be top-of-mind, because time and the power of compounding are huge advantages
Determine the npv of implementing the new safety policies : Your firm faces an 8% chance of a potential loss of $50 million next year. Determine the NPV of implementing the new safety policies
State environmental protection : president and chief executive officer (CEO) of Phase Separation Solutions (PS2), received a call from the State Environmental Protection
Explain what a therapeutic relationship is in psychiatry : Explain what a therapeutic relationship is in psychiatry. Explain how you would share your diagnosis of this disorder with the client in order to avoid damaging

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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