Income statement and subsidiary, Accounting Basics

+44 141 628 6080
[email protected]

Income statement and subsidiary

In the consolidated income statement of Push Company and its subsidiary, Shove Corporation, the noncontrolling interest was assigned $24,000 of income for 2009. What amount of net income did Shove report for 2009 if Push owns 80 percent of Shove?

A. $144,000.

B. $120,000.

C. $30,000.

D. $19,200.

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Income statement and subsidiary

Reference No:- TGS079292

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Accounting Basics

Q : Statement of cash flows as rent paid using the direct method

Ludwig Company's prepaid rent was $9,000 at December 31, 2010, and $13,000 at December 31, 2011. Ludwig reported rent expense of $19,000 on the 2011 income statement. What amount would be reported in the statement of cash flows as rent paid using

Q : Statement of cash-flow as insurance paid using direct method

Pickering Company's prepaid insurance was $8,000 at December 31, 2010, and $10,000 at December 31, 2011. Pickering reported insurance expense of $15,000 on the 2011 income statement. What amount would be reported in the statement of cash flows as

Q : Reported in a consolidated balance sheet

At the time, Rudd held land with a book value of $100,000 and a fair value of $260,000; Wilton held land with a book value of $50,000 and fair value of $600,000. Using the parent company theory, at what amount would land be reported in a consolida

Q : What portion of the loan should be eliminated

Spokane Corporation owns 95 percent of Seattle Corporation's outstanding common stock. Spokane loaned Seattle $100,000 on September 1, 2008, to be repaid three years later. What portion of the loan should be eliminated in preparation of the Decemb

Q : Income statement and subsidiary

Q : Equivalent units of the weighted average method

Compute the equivalent units of the weighted average method? Beginning inventory, 8000 partially completed Transferred out, 42000 gallons Ending inventory (materials are 10% complete; conversion costs are 20% complete) Started this month, 48000 ga

Q : How monthly profit increase as revenue increases

How does Gina's monthly profit increase as revenue increases? (Note: given that absence of unit-level data, you will need to express Gina's monthly profit in terms of revenue).

Q : Calculate that revenue required to earn an after-tax profit

Using the contribution margin ratio, calculate that revenue required to earn an after-tax profit of $11,375.

Q : Write down the expression for annual after-tax profit

SpringFresh's variable costs equal $0.50 per pound laundered, with fixed costs amounting to $50,000 per month. SpringFresh's income tax rate is 25%. a. Write down the expression for SpringFresh's annual after-tax profit.

1951360

Questions
Asked

3,689

Active Tutors

1414370

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Income statement and subsidiary

Reference No:- TGS079292

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Statement of cash flows as rent paid using the direct method

Q : Statement of cash-flow as insurance paid using direct method

Q : Reported in a consolidated balance sheet

Q : What portion of the loan should be eliminated

Q : Income statement and subsidiary

Q : Equivalent units of the weighted average method

Q : How monthly profit increase as revenue increases

Q : Calculate that revenue required to earn an after-tax profit

Q : Write down the expression for annual after-tax profit

Nurse is caring for a client who has a pneumothorax

What are the potential consequences of overusing antibiotics

What is the purpose of the uhdds definitions

What is the responsibility of coding professionals

Review the performance measures under each hedis domain

Caring for a client who has sickle cell disease

Which intervention help patient from experiencing heartburn

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Income statement and subsidiary

Reference No:- TGS079292

Recent Questions Asked Accounting Basics

Q : Statement of cash flows as rent paid using the direct method

Q : Statement of cash-flow as insurance paid using direct method

Q : Reported in a consolidated balance sheet

Q : What portion of the loan should be eliminated

Q : Income statement and subsidiary

Q : Equivalent units of the weighted average method

Q : How monthly profit increase as revenue increases

Q : Calculate that revenue required to earn an after-tax profit

Q : Write down the expression for annual after-tax profit

Asked Questions