Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. maddie ltd holds 80% interest in emily ltd. emily

Maddie Ltd holds 80% interest in Emily Ltd. Emily Ltd sells inventory to Maddie Ltd...

70.2K

Verified Solution

Question

Accounting

Maddie Ltd holds 80% interest in Emily Ltd. Emily Ltd sells inventory to Maddie Ltd during the year for $15 000. The inventories originally cost $13 000 when purchased from an external party. At the end of the year 50% of the inventories are still on hand. The tax rate is 30%. The NCI adjustment required in relation to this transaction is a debit to NCI of:

a.Nil.

b.$140

c.$700

d.$1000

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

5 B bisects segment AC Prove BC AC

Geometry
Q

Coastal rainbow trout (Oncorhynchus mykiss) move between marine and freshwater systems yet are homoiosmotic organisms. What physiological...

Biology
Q

Identify and explain two characteristics that made Herakles a distinctive hero. (Maximum 150 words)

Psychology
Q

what is the theory (general principles) of KVL and KCL? please explain, when its applicable, consist...

Electrical Engineering
Q

Font C2b C2 Complement System Activation a classical b alternative Microbe C3a C1 C4 Antigen...

Biology
Q

Course Contents HW Bonus center of mass of the Earth Moon nrw8c9p115 How far is...

Physics
Q

Find the exact value tan 2190 cot 2190

Basic Math
Q

Question The terminal side of angle intersects the unit circle in the first quadrant at...

Calculus
Q

How to create recurring entry in Sage 50 from cheuqing accountHow to create a recurring...

Accounting
Q

Statement of Cash FlowsIndirect Method The comparative balance sheet of Livers Inc. for December 31,...

Accounting
Q

48. The break-even point in sales dollars may be computed as: a. Fixed costs divided...

Accounting
Q

Weight reage cout Pow Metre Pervertory Sym The following units of nation for wearing the...

Accounting