8 separate earnings and investment percentages for three affiliates for 2011 are as 4307565

8 separate earnings and investment percentages for three affiliates for 2011 are as 4307565

8) Separate earnings and investment percentages for three affiliates for 2011 are as follows:

SeparatePercentage InterestPercentage Interest

Earnings       in Acres                    in Bain      

Palace Company$450,00080%

Acres Inc200,00070%

Bain Corporation160,00010%

 

Assume the investments were acquired at a cost equal to the book value of each investment, which also equals the fair value. Separate earnings do not include investment income.

Required:

1. Calculate revised net incomes for Palace, Acres, and Bain by using the conventional method.

2. Determine the controlling interest share of consolidated net income and the noncontrolling interest shares.

"Get 15% discount on your first 3 orders with us"
Use the following coupon
"FIRST15"

Order Now

Related Posts