![Accounting Treatment of Revaluation of Assets and Liabilities: Change in Profit Sharing Ratio - GeeksforGeeks Accounting Treatment of Revaluation of Assets and Liabilities: Change in Profit Sharing Ratio - GeeksforGeeks](https://media.geeksforgeeks.org/wp-content/uploads/20220915165558/Reval9.png)
Accounting Treatment of Revaluation of Assets and Liabilities: Change in Profit Sharing Ratio - GeeksforGeeks
![SOLVED: 6. When following the parent company concept in the preparation of consolidated financial statements, noncontrolling interest in combined income is considered a(n) Adeduction from current assets in the balance sheet. B SOLVED: 6. When following the parent company concept in the preparation of consolidated financial statements, noncontrolling interest in combined income is considered a(n) Adeduction from current assets in the balance sheet. B](https://cdn.numerade.com/ask_images/0ec0c5622abb4ff58665fbea2a6c9777.jpg)
SOLVED: 6. When following the parent company concept in the preparation of consolidated financial statements, noncontrolling interest in combined income is considered a(n) Adeduction from current assets in the balance sheet. B
When liabilities are more than assets, then the balancing figure is denoted by Capital Deficiency in the assets side of the statement of affairs. - Sarthaks eConnect | Largest Online Education Community
![Need help understanding why assets and liabilities increase/decrease net income when converting from cash basis to accrual basis - More info in comments. : r/Accounting Need help understanding why assets and liabilities increase/decrease net income when converting from cash basis to accrual basis - More info in comments. : r/Accounting](https://i.redd.it/3namrfkgtx171.jpg)