User Account

All Pages

What the unrealized income in the parent books is

Assignment Help Financial Accounting
Reference no: EM132941741

PPP acquired 70% of SSS for 270,000 on January 1, 2015 when Subsidiary RE 100,000 and capital 200,000. SSS net income December 2015 was 80,000 PPP net income was 90,000. During the year Subsidiary has sold land to its parent, and which resulted in 20,000 unrealized gain on land. Cost land was 40,000 and he sold it for 60,000.

Problem 1: The Unrealized income in the parent books is:

A) 14,000
B) 10,000
C) 20,000
D) 9,000

Reference no: EM132941741

Questions Cloud

How do you decide what type of chart to create : - When would you use Goal Seek function? Provide two specific examples - one on how this tool could be used in your personal life and, one on how it is used in
What will have entries when parent is eliminating the income : During the year Subsidiary has sold land to its parent, When parent is eliminating the income for Non-Controlling interest, entries will have
What the noncontrolling interest share was : On January 1, 2017, HHH Corporation purchased a truck with a useful life of five years, What the noncontrolling interest share for 2019 was
What an elimination entry at december for the intercompany : On December 31, 2019, TTT sold equipment with a three-year. What an elimination entry at December 31, 2019 for the intercompany sale will include a
What the unrealized income in the parent books is : What the Unrealized income in the parent books is? PPP acquired 70% of SSS for 270,000 on January 1, 2015 when Subsidiary RE 100,000 and capital 200,000.
What is the dirty cash price of the bond : What is the dirty cash price of this bond? Consider a corporate bond with a $1000 face value, 7.50% annual coupon with semiannual coupon payments, 7 years.
What was the gain on the sale of the land on consolidated : XXX sold the land to an unrelated party for $85,000. What was the gain on the sale of the land on the consolidated income statement for 2015?
What the truck account was : HHH Corporation purchased a truck with a useful life, In the eliminating/adjusting entries on consolidation working papers for 2019, the Truck account was
What aaa would report investment income from nnn of : NNN had separate income of $100,000 in 2015. The parent company, AAA Incorporated, owns 80% of NNN. AAA would report investment income from NNN in 2015 of

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!

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