User Account

All Pages

What is noncontrolling interest share of shannon net income

Assignment Help Accounting Basics
Reference no: EM131791995

Question - Chain Co. owned 70% of the voting common stock of Shannon Co. During 2010, Shannon made frequent sales of inventory to Chain. There were unrealized gains of $40,000 in the beginning inventory, and $25,000 at the end of the year. Shannon reported net income of $137,000 for 2010. Chain decided to use the equity method to account for the investment. What is the noncontrolling interest's share of Shannon's net income for 2010?

Reference no: EM131791995

Questions Cloud

Compare the company profit performance : Central Sprinkler Corporation manufactures and sells automatic fire sprinkler heads and valves, and it distributes components for automatic sprinkler systems.
What amount would have been reported for cost of goods sold : What amount would have been reported for cost of goods sold on Porter's consolidated income statement at December 31, 2011
What order size will give variable cost : What order size will give a variable cost within 10 per cent of optimal? What is the cost if suppliers only make deliveries of 200 units?
What would be immediate cash outflow required for project : The Finney Company is reviewing the possibility of remodeling one of its showrooms. What would be the immediate cash outflow required for this project.
What is noncontrolling interest share of shannon net income : Chain decided to use the equity method to account for the investment. What is the noncontrolling interest's share of Shannon's net income for 2010
How many minutes of grinding machine time would be required : Broze Company makes four products in a single facility. How many minutes of grinding machine time would be required to satisfy demand for all four products?
Develop critical path management diagram : Why Heagney, the author believes that scheduling is worthless if we do not develop a Critical Path Management (CPM) diagram? Explain.
Research time management theories : Research time management theories. Describe some of the time management theories that you found in your research.
Determining correct state taxable income for typical state : What adjustment, if any, should be made to Federal taxable income in determining the correct state taxable income for the typical state

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.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  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!

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