Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. how do you get 205,000? s investment in...

How do you get 205,000? s investment in...

70.2K

Verified Solution

Question

Accounting

How do you get 205,000? image
image
s investment in Sar balance at December 31, 2013, under the eqn Pr E 4-4 Equity method thousands) Info me ty accounts of Pen Corporation and Sin Corporation at December 31, 2010, were as follows (n Pen Sin Corporation Corporation $1,000 200 Capital stock Retained earnings $2,400 1,000 $3.400 Total 1, 2011, Pen Corporation acquired an 80 percent interest in Sin Corporation for $1,160,000. The nt being undervalued by $100,000 and unrecorded patents. excess fair value was due to Sin Corporation's equipme The undervalued over 10 years. equipment had a five-year remaining useful life when Pen acquired its interest. Patents are amortized The income and dividends of Pen and Sin are as follows (in thousands): Pen Sin 2011 2012 2011 2012 Net income $680 $700 $240 $300 160 180 Dividends 480 500 REQUIRED: Assume that Pen Corporation uses the equity method of accounting for its investment in Sin. 1. Determine consolidated net income for Pen Corporation and Subsidiary for 2011. 2. Compute the balance of Pen's Investment in Sin account at December 31, 2011. 3. Compute noncontrolling interest share for 2011. 4. Compute noncontrolling interest at December 31, 2012

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

There are a number of companies that provide a delivery service for take away meals. One...

Basic Math
Q

Q1. In a second-semester English class, 35% of the students are sophomores and the rest freshmen;...

Advance Math
Q

Required information [The following information applies to the questions displayed below.] Arndt, Inc., reported the following for 2018...

Accounting
Q

The tidal waves in the sea are primarily due to The atmospheric effect of the...

Physics
Q

Jill Bishop makes homemade soap. She sells it for $100 a case. Her variable costs...

Accounting
Q

12 X Corporation uses the following activity rates from its activity-based costing to assign overhead...

Accounting
Q

eBookPrint Item Question Content Area Stock Subscriptions and Treasury Stock Nash & Roth formed...

Accounting
Q

Fitness Fanatics is a regional chain of health clubs. The managers of the clubs, who...

Accounting
Q

Under job order costing system, which off the following costs would be recorded as debit...

Accounting
Q

What are four goals of a total quality management process? How can Back to the...

Accounting
Q

The third row of o stem-and-leaf chart appears as follows: 15/1357. Assume whole number values....

Accounting
Q

Chapter 14 PROBLEM 14-31 MULTIPLE CHOICE 1. A sales invoice included the terms 1/10, n/eom,...

Accounting