Three advanced accounting questions

timer Asked: Mar 24th, 2017
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Three advanced accounting questions

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School: University of Virginia

Hey...see attached. Was having network problems uploading


Controlling interest AAP
Non controlling interest


Profits and losses in intercompany transactions and balances.
Sale value of the equipment
Book value of the equipment on sale
Gain on sale
Equipment balance as at Dec 2013
Acquisition price
Accumulated depreciation
Balance as at Dec 2013


Equity investment
Ending balance of equity investment (Dec 2013)
Less: Net income from subsidiary
Add: Dividends received
Equity investment beginning balance(Jan)

Equity investment at the beginning:
Net income of the subsidiary:


Opening balance of NCI (Jan 2016)
Add: net income of the subsidiary
Less: Dividend from subsidiary


Consolidated net income
Consolidated net income
Add: excess depreciation charged by parent
Less: loyalty agreement amortization
Consolidated net income


Consolidated entries
Equity income
NI attribut...

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