Femur Co. acquired 70% of the voting common stock of Harbor Corp. on January 1, 2019. During 2019, Harbor had revenues of $2,500,000 and expenses of $2,000,000. The amortization of fair value allocations totaled $60,000 in 2019. Not including its investment in Harbor, Femur Co. had its own revenues of $4,500,000 and expenses of $3,000,000 for the year 2019.
The noncontrolling interest's share of the earnings of Harbor Corp. for 2019 is calculated to be:
a. What amount of consolidated net income for 2019 should be allocated to Femur's controlling interest in Harbor?
b. What amount would Femur Co. report as consolidated net income for 2019?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Femur Co. acquired 70% of the voting common stock of Harbor Corp. on January 1, 2019. During 2019, Harbor had revenues of $2,500,000 and ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
sold real property with a $140,000 adjusted basis for $255,000. The buyer paid $148,000 cash and assumed Mr. Beck's $107,000 mortgage on the realty. Mr. Beck's realized gain or loss on sale is:
Answers (1)
The following information is available for Sunland Company: Sales $590000 Total fixed expenses $150000 Cost of goods sold 390000 Total variable expenses 340000 A CVP income statement would report a. contribution margin of $250000. b.
Answers (1)
A company's balance sheet shows: cash $28,000, accounts receivable $19,000, office equipment $53,000, and accounts payable $20,000. What is the amount of stockholders' equity?
Answers (1)
Even though it is not actively involved in global marketing, Hennessey Enterprises, a U. S.-based business, agreed to sell two thousand of its stress-reducing balls to a distribution company in Norway.
Answers (1)
Tammy has just opened a donut shop called the rabbit hole. given that the rabbit hole is in its start-up phase, which of these would be tammy's immediate financial management need?
Answers (1)
New Questions in Business
When the Central Bank acts in a way that causes the money supply to increase while aggregate demand remains unchanged, it is A) following an expansionary monetary policy. B) following a contractionary monetary policy.
Answers (1)
Which types of food items have labor "built in" to their prices? a. make or buy items b. convenience items c. scratch items d. standard items?
Answers (2)
This is a type of individual retirement account that is usually not taxed when money is withdrawn from the account
Answers (1)
Last year, Goran had $30,000 to invest. He invested some of it in an account that paid 7% simple interest per year, and he invested the rest in an account that paid 10% simple interest per year.
Answers (1)
A function that indicates the maximum output per unit of time that a firm can produce, for every combination of inputs with a given technology, is called A. a production possibility curve. B. a production function. C. an isocost function. D.
Answers (1)