On January 1,20X9,Far Limited Purchased 70% of the Common Shares

question 2

Essay

On January 1,20X9,Far Limited purchased 70% of the common shares of Near Limited for $50,400,000.On the date of acquisition,Nears shareholders' equity was as follows:

The fair value of Nears assets on the date of acquisition equalled their carrying value,except for a trademark worth $500,000 that was no on Near's books.The trademark is estimated to have a useful life of 10 years.During the fiscal year ended December 31,20X9,Near earned a net income of $1,700,000,and paid dividends of $800,000.
Required:
What is the non-controlling interest on the consolidated statements of financial position at December 31,20X9?
The company uses the entity approach to calculate goodwill.

Understand the importance and use of the job cost sheet in cost accounting.

Comprehend the flow of materials, labor, and overhead costs in manufacturing environment.

Identify and explain the roles of various documents and records in cost accounting.

Calculate the cost per unit and total cost for completed jobs.

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