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zmey [24]
2 years ago
3

On January 2, 20X2, Piranha Company acquired 70 percent of Salmon Corporation's common stock for $420,000 cash. At the acquisiti

on date, the book values and fair values of Salmon' assets and liabilities were equal, and the fair value of the noncontrolling interest was equal to 30 percent of the total book value of Salmon. The stockholders' equity accounts of the two companies at the acquisition date are as follows:
Piranh Salmon
Common Stock ($10 par value) $600,000 $350,000
Additional Paid-In Capital 450,000 50,000
Retained Earnings 250,000 200,000
Total Stockholders’ Equity $1,300,000 $600,000
Noncontrolling interest was assigned income of $15,000 in Piranh consolidated income statement for 20X2.
Based on the preceding information, what amount will be assigned to noncontrolling interest on January 2, 20X2, in the consolidated balance sheet?
Business
1 answer:
satela [25.4K]2 years ago
7 0

Answer:

Non Controlling interest (NCI) = 180000

Explanation:

Fair value of assets = Book Values

Total Equity of Salmon on 2 January 2002 = 600000

Share of Net assets NCI 30% = 600000*30% = 180000

There is no change at acquisition so 30% will be applied on book value which is equal to Fair Value.

15,000 income relates to the post acquisition share of profit of NCI.

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Fortified Fiber Corporation (FFC) has a manufacturing process that produces three products that together incur joint costs. FFC'
BlackZzzverrR [31]

Answer:

d.Any new costs incurred in FFC's production process after the split-off point can be traced to one of the three final products.

Explanation:

the following statements regarding the new costs incurred in the FFC production process after the split-off point : any new costs incurred in FFC's production process after the split-off point can be traced to one of the three final products.

Costs before the split-off point will have to be allocated as joint costs but those costs incurred in the production process after the split-off point are directly traceable to the final products.

8 0
2 years ago
Read 2 more answers
This program will store roster and rating information for a soccer team. coaches rate players during tryouts to ensure a balance
Vedmedyk [2.9K]

Answer:

Explanation:

#include <iostream>

#include <vector>

using namespace std;

int main() {

   vector<int> jerseyNumber;

   vector<int> rating;

   int temp;

   for (int i = 1; i <= 5; i++) {

       cout << "Enter player " << i

            << "'s jersey number: ";

       cin >> temp;

       jerseyNumber.push_back(temp);

       cout << "Enter player " << i

            << "'s rating: ";

       cin >> temp;

       rating.push_back(temp);

       cout << endl;

   }

   cout << "ROSTER" << endl;

   for (int i = 0; i < 5; i++)

       cout << "Player " << i + 1 << " -- "

            << "Jersey number: " << jerseyNumber.at(i)

            << ", Rating: " << rating.at(i) << endl;

   char option;

   '

   while (true) {

       cout << "MENU" << endl;

       cout << "a - Add player" << endl;

       cout << "d - Remove player" << endl;

       cout << "u - Update player rating" << endl;

       cout << "r - Output players above a rating"

            << endl;

       cout << "o - Output roster" << endl;

       cout << "q - Quit" << endl << endl;

       cout << "Choose an option: ";

       cin >> option;

       switch (option) {

           case 'a':

           case 'A':

               cout << "Enter a new player's"

                    << "jersey number: ";

               cin >> temp;

               jerseyNumber.push_back(temp);

               cout << "Enter the player's rating: ";

               cin >> temp;

               rating.push_back(temp);

               break;

           case 'd':

           case 'D':

               cout << "Enter a jersey number: ";

               cin >> temp;

               int i;

               for (i = 0; i < jerseyNumber.size();

                    i++) {

                   if (jerseyNumber.at(i) == temp) {

                       jerseyNumber.erase(

                               jerseyNumber.begin() + i);

                       rating.erase(rating.begin() + i);

                       break;

                   }

               }

               break;

           case 'u':

           case 'U':

               cout << "Enter a jersey number: ";

               cin >> temp;

               for (int i = 0; i < jerseyNumber.size();

                    i++) {

                   if (jerseyNumber.at(i) == temp) {

                       cout << "Enter a new rating "

                            << "for player: ";

                       cin >> temp;

                       rating.at(i) = temp;

                       break;

                   }

               }

               break;

           case 'r':

           case 'R':

               cout << "Enter a rating: ";

               cin >> temp;

               cout << "\nABOVE " << temp << endl;

               for (int i = 0; i < jerseyNumber.size();

                    i++)

                   if (rating.at(i) > temp)

                       cout << "Player " << i + 1

                            << " -- "

                            << "Jersey number: "

                            << jerseyNumber.at(i)

                            << ", Rating: "

                            << rating.at(i) << endl;

               break;

           case 'o':

           case 'O':

               cout << "ROSTER" << endl;

               for (int i = 0; i < jerseyNumber.size();

                    i++)

                   cout << "Player " << i + 1 << " -- "

                        << "Jersey number: "

                        << jerseyNumber.at(i) << ", Rating: "

                        << rating.at(i) << endl;

               break;

           case 'q':

               return 0;

           default:

               cout << "Invalid menu option."

                    << " Try again." << endl;

       }

   }

}

4 0
2 years ago
Champagne, inc., had revenues of $12 million, cash operating expenses of $8 million, and depreciation and amortization of $1.5 m
Hoochie [10]

The free cash flow can be calculated as below:

Revenue 12000000

Less: Expense (8000000)

Less: Depreciation (1500000)

Earnings Before Tax 2500000

Less Tax (750000)

Earnings after tax 1750000

Add Depreciation 1500000

Total Cash Earnings 3250000

Less: Change in Working Capital (500000)

Less : Purchase of Asset (700000)

Free Cash Flow 2050000

Thus Free Cash Flow can be calculated as above.

4 0
2 years ago
Marcus is the owner of four Pizza Pizzazz restaurants in Santa Fe. Although the employee selection and training aspects of his b
arlik [135]

Answer:

<u>a. outsourcing</u>

Explanation:

Simply put Outsourcing done by Marcus implies that he hires or goes out to find another company to perform payroll function for the company.

He feels the employees selection and training aspects of his business can best be handled within the company.

This decision may provide the following advantages to Marcus:

  • Increased efficiency,
  • Cost reduction,
  • Eliminates recruiting and training of pay-rolling personnel.
5 0
2 years ago
A Japanese company has a bond outstanding that sells for 105.43 percent of its ¥100,000 par value. The bond has a coupon rate of
krok68 [10]

Answer:

The correct answer is 2.98% (approx.).

Explanation:

According to the scenario, the computation for the given data are as follows:

First we calculate the current value:

Current value (CV) = 100,000 × 105.43%

= 105,430

Now, Annual coupon (AC) = 100,000 × 3.4%

= 3,400

So, we can calculate the yield to maturity by using following formula:

Yield to maturity = [AC + (Face value - CV) ÷ maturity time] ÷ (Face value + CV) ÷ 2

By putting the value we get,

= [ 3,400 + (100,000 - 105,430) ÷ 16] ÷ (100,000 + 105,430) ÷ 2

= [ 3,060.625] ÷ (102,715)

= 2.98%(Approx)

3 0
2 years ago
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