{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-27T03:19:21-04:00", "answer_date": "2024-05-27 03:19:21", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1775838", "url": "\/study-help\/questions\/-1775838", "question_creation_date_js": "2024-05-27T03:19:21-04:00", "question_creation_date": "May 27, 2024 03:19 AM", "meta_title": "[Solved] Parrot Corporation acquired 9 0 % ?of Swa | SolutionInn", "meta_description": "Answer of - Parrot Corporation acquired 9 0 % ?of Swallow Co . ?on January 1 , 2 0 1 4 ?for $ 2 7 , 0 0 0 ?cash when Swallow's sto | SolutionInn", "meta_keywords": "parrot,corporation,acquired,9,swallow,january,1,2,4,$,7,cash", "question_title_h1": "Parrot Corporation acquired 9 0 % ?of Swallow Co . ?on January 1 , 2 0 1 4 ?for $ 2 7 , 0", "question_title": "Parrot Corporation acquired 9 0 % ?of Swallow Co . ?on January", "question_title_for_js_snippet": "Parrot Corporation acquired 9 0 of Swallow Co on January 1 , 2 0 1 4 for $ 2 7 , 0 0 0 cash when Swallow's stockholders' equity consisted of $ 1 0 , 0 0 0 of Capital Stock and $ 5 , 0 0 0 of Retained Eamings The difference between the fair value and book value of Swallow's net assets was allocated solely to a patent amortized over 5 years The separate company statements for Parrot and Swallow appear in the first two columns of the partially completed consolidation working papers Required Complete the consolidation working papers for Parrot and Swallow for the year 2 0 1 4 table , , Parrot,Swallow,Eliminations, table Consol , idated , , , Debit,Credit , table INCOME STATENENT , Sales , $ 1 , 2 0 , 0 0 0 , $ 1 5 , 0 0 0 , , , , Income of Swallow,, 2 , 9 7 0 , , , , , Cost of Sales,, 1 9 2 0 0 1 , 1 4 7 0 0 1 , , , , Other Expenses,, ( 2 , 3 0 0 ) , ( 4 , 0 0 0 ) , , , , table Noncontrol 1 1 ng , Interest Share , , , , , , , Net income,$ 1 , 1 1 , 4 7 0 , $ 6 , 3 0 0 , , , , table Retained , Earnings 1 1", "question_description": "
Parrot Corporation acquired <\/span>9<\/mn>0<\/mn>%<\/mo><\/mrow><\/math> ?of Swallow Co<\/span>.<\/mo><\/mrow><\/math> ?on January <\/span>1<\/mn>,<\/mo>\u00a0<\/mtext>2<\/mn>0<\/mn>1<\/mn>4<\/mn><\/mrow><\/math> ?for $<\/span>2<\/mn>7<\/mn>,<\/mo>0<\/mn>0<\/mn>0<\/mn><\/mrow><\/math> ?cash when Swallow's stockholders' equity consisted of $<\/span>1<\/mn>0<\/mn>,<\/mo>0<\/mn>0<\/mn>0<\/mn><\/mrow><\/math> ?of Capital Stock and $<\/span>5<\/mn>,<\/mo>0<\/mn>0<\/mn>0<\/mn><\/mrow><\/math> ?of Retained Eamings. The difference between the fair value and book value of Swallow's net assets was allocated solely to a patent amortized over <\/span>5<\/mn><\/mrow><\/math> ?years. The separate company statements for Parrot and Swallow appear in the first two columns of the partially completed consolidation working papers.<\/span><\/div>
Required:<\/span><\/div>
Complete the consolidation working papers for Parrot and Swallow for the year <\/span>2<\/mn>0<\/mn>1<\/mn>4<\/mn>.<\/mo><\/mrow><\/math><\/div>
\\<\/mi><\/mrow><\/math>table<\/span>[<\/mi>[<\/mi>,<\/mo>,<\/mo><\/mrow><\/math>Parrot,Swallow,Eliminations,<\/span>\\<\/mi><\/mrow><\/math>table<\/span>[<\/mi>[<\/mi><\/mrow><\/math>Consol<\/span>-<\/mo>]<\/mi>,<\/mo>[<\/mi><\/mrow><\/math>idated<\/span>]<\/mi>]<\/mi>]<\/mi>,<\/mo>[<\/mi>,<\/mo>,<\/mo><\/mrow><\/math>Debit,Credit<\/span>]<\/mi>,<\/mo>[<\/mi>\\<\/mi><\/mrow><\/math>table<\/span>[<\/mi>[<\/mi><\/mrow><\/math>INCOME STATENENT<\/span>]<\/mi>,<\/mo>[<\/mi><\/mrow><\/math>Sales<\/span>]<\/mi>]<\/mi>,<\/mo><\/mrow><\/math>$<\/span>1<\/mn>,<\/mo>2<\/mn>0<\/mn>,<\/mo>0<\/mn>0<\/mn>0<\/mn>,<\/mo><\/mrow><\/math>$<\/span>1<\/mn>5<\/mn>,<\/mo>0<\/mn>0<\/mn>0<\/mn>,<\/mo>,<\/mo>,<\/mo>]<\/mi>,<\/mo>[<\/mi><\/mrow><\/math>Income of Swallow,,<\/span>2<\/mn>,<\/mo>9<\/mn>7<\/mn>0<\/mn>,<\/mo>,<\/mo>,<\/mo>,<\/mo>]<\/mi>,<\/mo>[<\/mi><\/mrow><\/math>Cost of Sales,,<\/span>1<\/mn>9<\/mn>.<\/mn>2<\/mn>0<\/mn>0<\/mn>1<\/mn>,<\/mo>1<\/mn>4<\/mn>.<\/mn>7<\/mn>0<\/mn>0<\/mn>1<\/mn>,<\/mo>,<\/mo>,<\/mo>]<\/mi>,<\/mo>[<\/mi><\/mrow><\/math>Other Expenses,,<\/span>(<\/mi>2<\/mn>,<\/mo>3<\/mn>0<\/mn>0<\/mn>)<\/mi>,<\/mo>(<\/mi>4<\/mn>,<\/mo>0<\/mn>0<\/mn>0<\/mn>)<\/mi>,<\/mo>,<\/mo>,<\/mo>]<\/mi>,<\/mo>[<\/mi>\\<\/mi><\/mrow><\/math>table<\/span>[<\/mi>[<\/mi><\/mrow><\/math>Noncontrol<\/span>1<\/mn>1<\/mn><\/mrow><\/math>ng<\/span>]<\/mi>,<\/mo>[<\/mi><\/mrow><\/math>Interest Share<\/span>]<\/mi>]<\/mi>,<\/mo>,<\/mo>,<\/mo>,<\/mo>,<\/mo>,<\/mo>]<\/mi>,<\/mo>[<\/mi><\/mrow><\/math>Net income,$<\/span>1<\/mn>,<\/mo>1<\/mn>1<\/mn>,<\/mo>4<\/mn>7<\/mn>0<\/mn>,<\/mo><\/mrow><\/math>$<\/span>6<\/mn>,<\/mo>3<\/mn>0<\/mn>0<\/mn>,<\/mo>,<\/mo>,<\/mo>]<\/mi>,<\/mo>[<\/mi>\\<\/mi><\/mrow><\/math>table<\/span>[<\/mi>[<\/mi><\/mrow><\/math>Retained<\/span>]<\/mi>,<\/mo>[<\/mi><\/mrow><\/math>Earnings <\/span>1<\/mn><\/mrow>1<\/mn><\/mrow><\/mfrac><\/mrow><\/math><\/div><\/span> <\/div><\/div>\"image", "transcribed_text": "", "related_book": { "title": "Human Resource Management", "isbn": "053845315X, 978-0538453158", "edition": "13th Edition", "authors": "Robert L. Mathis, John H. Jackson", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/80.jpg", "uri": "\/textbooks\/human-resource-management-13th-edition-80", "see_more_uri": "" }, "free_related_book": { "isbn": "9811921288", "uri": "\/textbooks\/proceedings-of-international-conference-on-computational-intelligence-icci-2021-1st-edition-978-9811921285-147870", "name": "Proceedings Of International Conference On Computational Intelligence Icci 2021", "edition": "1st Edition" }, "question_posted": "2024-05-27 03:19:21", "see_more_questions_link": "\/study-help\/questions\/business-finance-2024-September-21", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/nature-of-mathematics\/simplify-each-expression-in-problems-722-classify-each-answer-by-1235759", "description": "Simplify each expression in Problems 722. Classify each answer by number of terms and degree. 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