Why is consolidated net income equal to the net income reported by the parent if the...
Why is consolidated net income equal to the net income reported by the parent if the parent uses the equity method of accounting?
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Why is consolidated net income equal to the net income reported
by the parent if the...
while doing the accounting consolidation for parent company and sub company, how to get consolidated net...
while doing the accounting consolidation for parent company and sub company, how to get consolidated net income under equity method if intercompany transaction exists.
if parent use equity method to recored its investment, hwo do you calculatee net income attributable...
if parent use equity method to recored its investment, hwo do you calculatee net income attributable to the NCI, since we know parent net income under equity method equal to consolidated net inomce attribuatble to the parent.
The Nanie consolidated group reported the following taxable income amounts. Parent owns all of the stock...
The Nanie consolidated group reported the following taxable income amounts. Parent owns all of the stock of both Junior and Minor. Determine the net operating loss (NOL) that is apportioned to Minor. Parent ($400,000) Junior ($600,000) Minor $100,000 a.$300,000. b.$100,000. c.$0. Minor did not report an NOL of its own. d.$0. All NOLs of a consolidated group are apportioned to the parent
A Parent Company owns 100% of its Subsidiary. During 2013, the Parent company reports net income...
A Parent Company owns 100% of its Subsidiary. During 2013, the Parent company reports net income of $1,000,000 and the subsidiary reports net income of $400,000. The Parent had a bond payable outstanding on July 1, 2012, with a carry value equal to $840,000. The Subsidiary acquired the bond on July 1, 2012 for $790,000. During 2013, the Parent reported interest expense (related to the bond) of $70,000 while the Subsidiary reported interest income (related to the bond) of $64,000....
Herbert, Inc., acquired all of Rambis Company’s outstanding stock on January 1, 2020, for $654,000 in...
Herbert, Inc., acquired all of Rambis Company’s outstanding
stock on January 1, 2020, for $654,000 in cash. Annual excess
amortization of $11,400 results from this transaction. On the date
of the takeover, Herbert reported retained earnings of $401,000,
and Rambis reported a $207,000 balance. Herbert reported internal
net income of $56,500 in 2020 and $73,100 in 2021 and declared
$10,000 in dividends each year. Rambis reported net income of
$22,700 in 2020 and $39,300 in 2021 and declared $5,000 in...
The Nanie consolidated group reported the following taxable income amounts. Parent owns all of the stock of both Junior and Minor. Determine the net operating loss (NOL) that is apportioned to Minor....
The Nanie consolidated group reported the following taxable income amounts. Parent owns all of the stock of both Junior and Minor. Determine the net operating loss (NOL) that is apportioned to Minor. Parent ($400,000) Junior ($600,000) Minor $100,000 a.$300,000. b.$100,000. c.$0. Minor did not report an NOL of its own. d.$0. All NOLs of a consolidated group are apportioned to the parent
Herbert, Inc., acquired all of Rambis Company's outstanding stock on January 1, 2020, for $574,000 in...
Herbert, Inc., acquired all of Rambis Company's outstanding stock on January 1, 2020, for $574,000 in cash. Annual excess amortization of $12,000 results from this transaction. On the date of the takeover, Herbert reported retained earnings of $400,000, and Rambis reported a $200,000 balance. Herbert reported internal net income of $40,000 in 2020 and $50,000 in 2021 and declared $10,000 in dividends each year. Rambis reported net income of $20,000 in 2020 and $30,000 in 2021 and declared $5,000 in...
Herbert, Inc., acquired all of Rambis Company's outstanding stock on January 1, 2020, for $642,000 in...
Herbert, Inc., acquired all of Rambis Company's outstanding stock on January 1, 2020, for $642,000 in cash. Annual excess amortization of $11,200 results from this transaction. On the date of the takeover, Herbert reported retained earnings of $497,000, and Rambis reported a $280,000 balance. Herbert reported internal net income of $54,750 in 2020 and $68,650 in 2021 and declared $10,000 in dividends each year. Rambis reported net income of $21,300 in 2020 and $35,200 in 2021 and declared $5,000 in...
Herbert, Inc., acquired all of Rambis Company’s outstanding stock on January 1, 2017, for $607,000 in...
Herbert, Inc., acquired all of Rambis Company’s outstanding stock on January 1, 2017, for $607,000 in cash. Annual excess amortization of $13,200 results from this transaction. On the date of the takeover, Herbert reported retained earnings of $441,000, and Rambis reported a $234,000 balance. Herbert reported internal net income of $60,250 in 2017 and $72,150 in 2018 and declared $10,000 in dividends each year. Rambis reported net income of $21,800 in 2017 and $33,700 in 2018 and declared $5,000 in...
Herbert, Inc., acquired all of Rambis Company’s outstanding stock on January 1, 2017, for $601,000 in...
Herbert, Inc., acquired all of Rambis Company’s outstanding stock on January 1, 2017, for $601,000 in cash. Annual excess amortization of $16,300 results from this transaction. On the date of the takeover, Herbert reported retained earnings of $453,000, and Rambis reported a $276,000 balance. Herbert reported internal net income of $45,500 in 2017 and $61,400 in 2018 and declared $10,000 in dividends each year. Rambis reported net income of $25,300 in 2017 and $41,200 in 2018 and declared $5,000 in...
Herbert, Inc., acquired all of Rambis Company’s outstanding
stock on January 1, 2020, for $654,000 in cash. Annual excess
amortization of $11,400 results from this transaction. On the date
of the takeover, Herbert reported retained earnings of $401,000,
and Rambis reported a $207,000 balance. Herbert reported internal
net income of $56,500 in 2020 and $73,100 in 2021 and declared
$10,000 in dividends each year. Rambis reported net income of
$22,700 in 2020 and $39,300 in 2021 and declared $5,000 in...
Herbert, Inc., acquired all of Rambis Company's outstanding stock on January 1, 2020, for $574,000 in cash. Annual excess amortization of $12,000 results from this transaction. On the date of the takeover, Herbert reported retained earnings of $400,000, and Rambis reported a $200,000 balance. Herbert reported internal net income of $40,000 in 2020 and $50,000 in 2021 and declared $10,000 in dividends each year. Rambis reported net income of $20,000 in 2020 and $30,000 in 2021 and declared $5,000 in...
Herbert, Inc., acquired all of Rambis Company's outstanding stock on January 1, 2020, for $642,000 in cash. Annual excess amortization of $11,200 results from this transaction. On the date of the takeover, Herbert reported retained earnings of $497,000, and Rambis reported a $280,000 balance. Herbert reported internal net income of $54,750 in 2020 and $68,650 in 2021 and declared $10,000 in dividends each year. Rambis reported net income of $21,300 in 2020 and $35,200 in 2021 and declared $5,000 in...
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