Reference no: EM132661606
Question - On January 2, 2013, Pop corporation purchase 80% of Sea Company's common stock for P216,000. P10,000 of the excess is attributed to goodwill and the balance to a depreciable asset with an economic life of 10 years. On the date of acquisition, Sea reported common stock outstanding of P80,000 and retained earnings of P140,000, and Pop reported common stock outstanding of P350,000 and retained earnings of P520,000.
On December 31, 2013, Sea reported a comprehensive income of P35,000 and paid dividends of P15,000. Pop reported CI from separate operations of P95,000 and paid dividends of P46,000. Goodwill had been impaired and should be reported at P2,000 on December 31, 2013.
Required -
1. What is the consolidated CI on December 2013?
2. What is the consolidated retained earnings on December 2013?
3. How much is the NCI on CI of the subsidiary on December 2013?
4. What is the balance of NCI on December 31, 2013?
5. What is the consolidated CI attributable to parent on December 31, 2013?
|
Research concepts in sport management
: From a present-day perspective, from information in the Costa article, and from your reading of "Research Concepts in Sport Management"
|
|
What is Roland adjusted gross income
: Roland Carlow, age 21, is a full-time student at Morgan State University and a candidate for a bachelor's degree. What is Roland adjusted gross income
|
|
What would you suggest- compose an email to jill
: if there was anything else that could be done, or whether they would "just have to live with it." What would you suggest- Compose an email to Jill
|
|
Two principle impediments to effective
: Two principle impediments to effective and lasting organizational change are structures and systems within the organization.
|
|
What is the consolidated CI on December
: On January 2, 2013, Pop corporation purchase 80% of Sea Company's common stock for P216,000. What is the consolidated CI on December
|
|
Concept of learning curves for estimating
: Suppose that you are the estimator who is assigning costs to a major project to be undertaken this year by your firm, Acme Software Developers.
|
|
Which forecasting method is best to recommend to Mr Ali
: Mr. Ali has only one week to develop a forecast for all product ranges of the company, Which forecasting method is best to recommend to Mr. Ali? and why
|
|
Calculate the after-tax profits for the business
: Quinn proprietorship earned $160,000 in pre-tax profits this year. Calculate the after-tax profits for the business as i) a proprietorship, ii) a corporation
|
|
Compare company financial ratios
: Determine why it is sometimes misleading to compare a company's financial ratios with those of other firms that operate within the same industry.
|