User Account

All Pages

What is the controlling interest in consolidated

Assignment Help Accounting Basics
Reference no: EM13322281

40. Keefe Inc, a calendar-year corporation, acquires 70% of George Company on September 1, 2014, and an additional 10% on January 1, 2015. Total annual amortization of $6,000 relates to the first acquisition. George reports the following figures for 2015:

Without regard for this investment, Keefe independently earns $300,000 in net income during 2015.
All net income is earned evenly throughout the year.
What is the controlling interest in consolidated net income for 2015?


A. $380,000.

B. $375,200.

C. $375,800.

D. $376,000.

E. $400,000.

Reference no: EM13322281

Questions Cloud

Berkshire inc. uses a periodic inventory system : Berkshire Inc. uses a periodic inventory system. At the end of 2012, it missed counting some inventory items, resulting in an inventory understatement by $600,000. Assume that Berkshire has a 30% income tax rate and that this was the only erro..
Write a program that uses a while loop to compute : Write a program that prints the numbers from 1 to 50 using a for loop. Rewrite the program using a do -while loop.
Find range of values of p for which equilibrium is maintain : knowing that the coefficient of static friction between the collar and the rod is .35, determine the range of values of p for which equilibrium is maintained when 0=50deg and M=20Nm
What is the resistance of the composite wire : A 137-cm-long wire is made by welding a 1.3-mm-diameter, 26-cm-long copper wire to a 0.31-mm-diameter, What is the resistance of the composite wire
What is the controlling interest in consolidated : 40. Keefe Inc, a calendar-year corporation, acquires 70% of George Company on September 1, 2014, and an additional 10% on January 1, 2015. Total annual amortization of $6,000 relates to the first acquisition. George reports the following figur..
How a non-it senior manager would arrive at the decision : Describe the process of how a non-IT senior manager would arrive at the decision to support one IT diffusion model over another. List the factors that would have to be considered. Determine which model you would choose and explain why.
What is the resistance of a household : A typical American family uses 1120 kWh of electricity a month. On average, what is the resistance of a household
Explain discrete logarithm problem relative to g : Prove that the hardness of the CDH problem relative to G implies the hardness of the discrete logarithm problem relative to G.
Find equilbirum concentration of h2s if kc for the reaction : Consider the following reaction: 2H2O (g) + 2SO2 (g) 2H2S (g) + 3O2 (g) a reaction mixture initially contains 2.8 M H2O and 2.6 M SO2. Determine the equilbirum concentration of H2S if Kc for the reaction at this temperature is 1.3 x 10^-6

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the market value of the contract

You just heard a news story about a mad cow disease in a neighboring country, and you believe that feeder cattle prices will rise dramatically in the next few months as buyers of cattle shift to US suppliers.

  Adjusted balance of allowance for doubtful accounts

Past experience indicates that 3% of net credit sales become uncollectible. What should be the adjusted balance of allowance for doubtful accounts at December 31,2011?

  What are some of challenges facing accounting profession

By 2010, foreign companies will be able to file on US stock exchanges using IFRS standards. With that in mind, what are some of the challenges facing the accounting profession, and how do you see them affecting you in the future

  Annual rate of return based problem

George's grandmother promises to give him $1,000 at theend of each of the next five years. How much is the money worthtoday, assuming George could invest the money and earn a 6% annual rate of return?

  Amount of net passive losses

Arnold purchased interests in two limited partnerships 6 years ago. During 2010, Arnold had income of $22,000 from one of the partnerships. He had a loss from the other partnership of $32,000, salary income of $35,000 and dividend income of $2,000..

  Allowances method of accounting for uncollectible receivable

Journalize the following transactions using the allowances method of accounting for uncollectible receivables.

  Return on assets and return on equity for firm

The company has total assets of $104,912.112 and shareholders' equity of $43,623,445. Use the extended DuPont identity to find the return on assets and return on equity for the firm.

  Evaluate the month lease option

Evaluate the 24 month and 36 month lease option and make a recommendation on which is the best option for AMG.

  Compute the amount of phantom profit

In its first month of operation, Moraine Company purchased 100 units of inventory for $18, then 200 units for $21, and finally 150 units for $24. At the end of the month, 180 units remained. Compute the amount of phantom profit that would result i..

  Tax situation for replacement land cost

Under the condemnation award, Gordon receives $200,000 for the land. Within the same year, he replaces the property with other grazing land. What is Gordon's tax situation if the replacement land cost:

  List of fixed assets

Visit a nearby factory and carefully see its shops and departments. On completion of your visit draw a list of fixed assets noticed by you in the factory. Also comment on business location and its plant layout.

  What is the workstation cycle time required to produce

What is the workstation cycle time required to produce 1,000 units per day?

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