Assume that on January 1, 2012, a parent company acquired a 70% interest in a subsidiary's voting common stock. On the date of acquisition, the fair value of the subsidiary's net assets equaled their reported book values except for machinery and equipment, which had a fair value of $480,000 and a reported book value of $250,000. The machinery and equipment had a 5 year remaining useful life and no salvage value. The following are the highly summarized pre-consolidation income statements of the parent and subsidiary for the year ended December 31 , 2013: Income Statement Parent Subsidiary
Revenues $2,160,000 $288,000
Equity income 60,200
Expenses 1440000 144,000
Net income $780,200 144,000

For the year ended December 31, 2013, what amounts will be reported for (1) consolidated net income and (2) net income attributable to the non-controlling interest, respectively, in the parent's consolidated financial statements?

1. $818,000

2. Check attachment

Explanation:

1. The amounts that will be reported for consolidated net income will be $818,000.

(2) Note that for the net income attributable to the non-controlling interest, respectively, in the parent's consolidated financial statements was calculated as:

= ($144,000 - $46,000) × 30%

= $98,000 × 0.3

= $29400

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multiculturalism is a particular subject of debate in certain european nations that are associated with the idea of a single nation within their country. critics of multiculturalism may argue against cultural integration of different ethnic and cultural groups to the existing laws and values of the country.

so yes, multiculturalism can (and usually does) result in the host country/continent losing its culture, identity and linguistics, especially due to the raw numbers of demographic transitions.

explanation:

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