Fundamentals of Advanced Accounting
6th Edition
ISBN: 9780077862237
Author: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik
Publisher: McGraw-Hill Education
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Chapter 4, Problem 15P
To determine
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For the year ended December 31, the following results were given:
Dividend Paid Net Income
Parent Company P15,000 P30,200Subsidiary Company 4,000 9,400
Using the proportionate basis or partial goodwill method, compute the non-controlling interest on December 31.A. P 10,600 C. P 12,010B. P11,140 D. P 12,300
Note: Just use the information provided to solve the problem.
A subsidiary that is 75% owned by its parent company pays a dividend of R100 00. Onconsolidation the amount to be eliminated:
Select one:
A. none of the above B. R100 000C. R25 000 D. 75 000
What is the total amount of share premium to be reported by the surviving company?a. P1,000,000 c. P1,750,000b. P944,600 d. P1,400,000
Chapter 4 Solutions
Fundamentals of Advanced Accounting
Ch. 4 - Prob. 1QCh. 4 - Atwater Company acquires 80 percent of the...Ch. 4 - What is a control premium and how does it affect...Ch. 4 - Prob. 4QCh. 4 - How is the noncontrolling interest in a subsidiary...Ch. 4 - Prob. 6QCh. 4 - Prob. 7QCh. 4 - Prob. 8QCh. 4 - Prob. 9QCh. 4 - Prob. 10Q
Ch. 4 - Prob. 1PCh. 4 - Prob. 2PCh. 4 - Prob. 3PCh. 4 - Prob. 4PCh. 4 - Prob. 5PCh. 4 - Prob. 6PCh. 4 - Prob. 7PCh. 4 - Prob. 8PCh. 4 - Prob. 9PCh. 4 - Prob. 10PCh. 4 - Prob. 11PCh. 4 - Prob. 12PCh. 4 - Prob. 13PCh. 4 - Prob. 14PCh. 4 - Prob. 15PCh. 4 - Prob. 16PCh. 4 - Prob. 17PCh. 4 - Prob. 18PCh. 4 - Current liabilities: a. 50,000 b. 46,000 c. 40,000...Ch. 4 - Prob. 20PCh. 4 - Stockholders equity: a. 80,000 b. 90,000 c. 95,000...Ch. 4 - Prob. 22PCh. 4 - Prob. 23PCh. 4 - Prob. 24PCh. 4 - Prob. 25PCh. 4 - Prob. 26PCh. 4 - Prob. 27PCh. 4 - Prob. 28PCh. 4 - Prob. 29PCh. 4 - Prob. 30PCh. 4 - Prob. 31PCh. 4 - Prob. 32PCh. 4 - Prob. 33PCh. 4 - Prob. 34PCh. 4 - Prob. 35PCh. 4 - Prob. 36PCh. 4 - Prob. 37PCh. 4 - Prob. 38PCh. 4 - Prob. 39PCh. 4 - Prob. 40PCh. 4 - Prob. 41PCh. 4 - Prob. 42PCh. 4 - Prob. 1DYS
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- For the year ended December 31, the following results were given: Dividend Paid Net Income Parent Company P15,000 P30,200Subsidiary Company 4,000 9,400 Using the proportionate basis or partial goodwill method, compute the controlling interest on December 31:A. P 64,760 C. P 69,400B. P65,090 D. P 69,800 Note: Just use the information provided to arrive at the answer.arrow_forwardFor the year ended December 31, the following results were given: Dividend Paid Net Income Parent Company P15,000 P30,200Subsidiary Company 4,000 9,400 Using the proportionate basis or partial goodwill method, compute the non-controlling interest on December 31.A. P 0 C. P 610B. P 540 D. P 940 Note: Just use the information provided to arrive at the answer.arrow_forwardTRUE OR FALSE: Indicate whether the statements are true or false. 1. Worksheet elimination 1 will include only the subsidiary’s stock (par value and additional paid-in capital), Retained Earnings, and the parent’s Investment in Subsidiary account when the parent has acquired 100 percent of the subsidiary’s stock at book value at the beginning of the period. 2.arrow_forward
- What is the non-controlling interest (in net assets) on December 31, 20x2, assuming that the net income and dividends of subsidiary amounted to P200,000 and P70,000, respectively:A. 208,000 B. 209,200 C. 235,300 D. 222,400arrow_forwardGardner Corp. owns 80% of the voting common stock of Lockhart Co. Lockhart owns 70% of Canning Co. Gardner and Lockhart both use the initial value method to account for their investments. The following information is available from the financial statements and records of the three companies: Separate company net income before investment income Dividend income from investment in subsidiary Deferral of intra-entity gains Amortization expense related to excess fair value over book value of investment Gardner Lockhart Canning Co. Co. $900,000 $650,000 $150,000 Corp. 250,000 120,000 110,000 80,000 20,000 40,000 25,000 Separate company net income includes Intra-entity gains before the consolidating deferral but does not include dividend income from investment in subsidiary. What amount of dividends should Gardner Corp. recognize in its consolidated net income with respect to dividends received from Canning Co.?arrow_forward1. On January 1, 20x1, Entity A acquires 30% interest in Entity B d. Entity A should not apply the equity method. amount of the investment in associate on December 31, 20x2? interest in Entity B. Entity B reports profit of 94M for the amount of the investment in associate on December 31, 20x1? dividends of P50,000 in 20x1. How much is the carrying P200,000 and declares no dividends. What is the carrying 2. Entity A uses the equity method in accounting for its 20% period. Entity B has outstanding 5% cumulative preference for P600,000. Entity B reports profit of P200,000 and declares of P300,000 at year-end. In 20x2, Entity B reports loss of PAS 28 319 ned to exist a. 550,000 b. 590,000 c. 600,000 d. 640,000 vestee. vestee. avestee. stee's board c. 645,000 Under this ce is initially 600,000 a. d. 630,000 b. 660,000 ement e investor's nges in chares with an aggregate par value of P10M. Entity A holds none of the preference shares. Entity B did not declare dividends on the preference…arrow_forward
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