subject
Business, 29.02.2020 06:06 solidermorrison9209

1. A parent has a 90% interest in its subsidiary. The subsidiary sold land at a gain to the parent in the current year. The parent still holds the land. How does this transaction affect equity in net income and noncontrolling interest in net income for the current year, assuming the parent uses the complete equity method to report its investment on its own books? A. No effect B. Only affects equity in net income C. Only affects noncontrolling interest in net income D. Affects equity in net income and noncontrolling interest in net income.

ansver
Answers: 1

Another question on Business

question
Business, 22.06.2019 00:00
Chance company had two operating divisions, one manufacturing farm equipment and the other office supplies. both divisions are considered separate components as defined by generally accepted accounting principles. the farm equipment component had been unprofitable, and on september 1, 2018, the company adopted a plan to sell the assets of the division. the actual sale was completed on december 15, 2018, at a price of $600,000. the book value of the division’s assets was $1,000,000, resulting in a before-tax loss of $400,000 on the sale. the division incurred a before-tax operating loss from operations of $130,000 from the beginning of the year through december 15. the income tax rate is 40%. chance’s after-tax income from its continuing operations is $350,000. required: prepare an income statement for 2018 beginning with income from continuing operations. include appropriate eps disclosures assuming that 100,000 shares of common stock were outstanding throughout the year. (amounts to be deducted should be indicated with a minus sign. round eps answers to 2 decimal places.)
Answers: 2
question
Business, 22.06.2019 07:30
Jewelry manufacturers produce a range of products such as rings, necklaces, bracelets, and brooches. what fundamental economic question are they addressing by offering this range of items?
Answers: 3
question
Business, 22.06.2019 19:30
When it is 4: 00 a.m. in halifax, it is 1: 00 p.m. in karachi, and when it is 9: 00 a.m. in karachi, it is 5: 00 a.m. in warsaw. mary left halifax to fly to karachi, but she accidentally left her watch on warsaw time. according to mary’s watch, she left halifax at 9: 40 p.m. on monday. the local time when she arrived at karachi was 3: 00 p.m. tuesday. how long was mary’s flight? a. 9 hours, 20 minutes b. 13 hours, 20 minutes c. 14 hours, 20 minutes d. 17 hours, 20 minutes
Answers: 1
question
Business, 23.06.2019 10:30
Denise is a hard worker, but she has always had differences with her boss, angela. angela has recently become more demanding and is often unwilling to provide clarification on project requirements. after too many long working days with little or no job satisfaction, denise walked into angela's office and submitted her resignation. denise knows that her résumé is strong and feels confident she will find another job. denise is now facing unemployment.a. seasonalb. cyclicalc. structurald. frictional
Answers: 3
You know the right answer?
1. A parent has a 90% interest in its subsidiary. The subsidiary sold land at a gain to the parent i...
Questions
question
Mathematics, 28.03.2020 01:39
question
Mathematics, 28.03.2020 01:39
question
Chemistry, 28.03.2020 01:39
question
Mathematics, 28.03.2020 01:40
Questions on the website: 13722366