User Account

All Pages

What was the noncontrolling interest share of consolidated

Assignment Help Accounting Basics
Reference no: EM131777550

Question - On January 1, 2011, Race Corp. acquired 80% of the voting common stock of Gallow Inc. During the year, Race sold to Gallow for $450,000 goods which cost $330,000. Gallow still owned 15% of the goods at year-end. Gallow's reported net income was $204,000, and Race's net income was $806,000. Race decided to use the equity method to account for this investment. What was the noncontrolling interest's share of consolidated net income?

A. $3,600.

B. $22,800.

C. $30,900.

D. $32,900.

E. $40,800.

Reference no: EM131777550

Questions Cloud

Consumers are satisfied with the service : In services, the zone of tolerance is important to ensure that consumers are satisfied with the service.
Derive the marginal and average cost functions : A golf ball manufacturer faces a fixed cost of FC = 20 for operating and a variable cost of VC = 4q where q is the quantity of golf balls it produces.
What was consolidated cost of goods sold : Cost of goods sold was $10,800,000 for Webb and $6,400,000 for Rand. What was consolidated cost of goods sold
Identify conflicts or criticism of theories found in work : Identify conflicts or criticism of theories found in your work. Determine if there are gaps in literature, and propose potential for further scholarly research.
What was the noncontrolling interest share of consolidated : Race decided to use the equity method to account for this investment. What was the noncontrolling interest's share of consolidated net income
Aspect of erp that determines quality : Which of the following is not an aspect of ERP that determines quality? What are 10 guidelines for managing ethics in the workplace?
Find the slope of the isocost line : A firm has $30 to spend on labor and capital. Labor costs (w) $3 per unit and capital costs (r) $5 per unit. (a) Find the equation for the isocost and graph.
What is the controlling interest in consolidated net income : Keefe, Inc., a calendar-year corporation, acquires 70% of George Company on September 1, 2010, What is the controlling interest in consolidated net income
Identify a well-known past or present woman : Identify a well-known past or present woman (someone your classmates could find historical information about) that you would consider a great leader.

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