![LForNotKnowingMath](/avatars/49154.jpg)
LForNotKnowingMath
21.01.2021 •
Business
On January 1, 2018, Ackerman sold equipment to Brannigan (a wholly owned subsidiary) for $210,000 in cash. The equipment had originally cost $189,000 but had a book value of only $115,500 when transferred. On that date, the equipment had a five-year remaining life. Depreciation expense is computed using the straight-line method Ackerman reported $310,000 in net income in 2018 (not including any investment income) while Brannigan reported $101,300. Ackerman attributed any excess acquisition-date fair value to Brannigan's unpatented technology, which was amortized at a rate of $4,100 per year
a. What is consolidated net income for 2018?
b. What is the parent's share of consolidated net income for 2018 if Ackerman owns only 90 percent of Brannigan?
c. What is the parent's share of consolidated net income for 2018 if Ackerman owns only 90 percent of Brannigan and the equipment transfer was upstream?
d. What is the consolidated net income for 2019 if Ackerman reports $330,000 (does not include investment income) and Brannigan $111,400 in income?
Solved
Show answers
More tips
- F Family and Home What Kind of Wedding to have After 11 Years of Marriage?...
- C Computers and Internet How to Top Up Your Skype Account Without Losing Money?...
- H Health and Medicine How does childbirth happen: everything future mothers need to know...
- H Health and Medicine What Are the Best Vitamins? A Scientific View on Vitamin Supplements...
- A Auto and Moto How to Deregister a Car in Moscow?...
- A Auto and Moto What Is the Cost of Customs Clearance for a Car in Russia?...
- A Auto and Moto How to choose the right drive for your BMW...
- H Health and Medicine 10 Tips for Avoiding Vitamin Deficiency...
- L Leisure and Entertainment Mysteries of the Name Vyacheslav Dobrynin...
- H Health and Medicine What makes Graves’ disease dangerous?...
Answers on questions: Business
- B Business The Boston House increases its dividend each year. The next annual dividend is expected to be $2.25 a share. Future dividends will increase by 5.0 percent annually. What...
- M Mathematics How to write .321 in scientific notation?...
- E English “Our phones are packed with subtle positive reinforcements that trigger dopamine spritzes that keep us coming back for more.”PART I: Indicate the type of choice the author...
- H History How did newspapers, like the ones that ben franklin put out, enlightenment ideas to spread faster...
Ответ:
1 million
Explanation: