41 4G I 3-Question.pdf 2 Game CS Tam ded ament de PC Com Neste 12 met LU . P Company Company Balance Sheet Assets $1.000.000 $570.000 Current Assets Investment in company 1.100.000 Land 1.000.000 200.000 3,800,000 2.700.000 Property and Equipment Accumulated Depreciation Total Assets 1.520.000 960 000 55,470.000 $2.510.000 5670 000 $700 000 Capital Stock 3,000,000 P Company 5 Company Retained Cornings from above 1.000.000 1.800.000 810,000 1/1 Noncontrolling Interest in Net Assets 12/31 NCI in Net Assets Total Liabilities and Equity $5,470.000 $2.510,000 Assume that company acquires an interest in Company for $1,190,000 in 2010, when the retained earnings and capital stock of Company amount to 400,000 and 1,000,000 respectively. The retained earnings of Company on January 1, 2012, 5646.000. On Lanuary 1, 2012, 5 Company wells Company equipment with a book value of $500,000 foriginal cost of $800,000 and accumulated depreciation of $300.000 for $600.000. On January 1, 2012, the equipment has an estimated remainine useful life of 5 years and is depreciated using the straight-line method Required 1. Record necessary workpaper entries 3. Prepare Consolidated Statements using Cost Method 1.800.000 350.000 Retained Earnings from above 1/1 Non controlling interest in NetAssets 12/31 Ninet Assets Total Liabilities and Equity $5.000 $2.510,000 Assume that company acquires a BS interest in Company for $1.190,000 2000 when the retained earnings and capital stock of Company amount to 400,000 and 1,000,000 respectively. The rained anings of Company on lanuary 1, 2012, are $66.000.Ondanuary 2, 2012. S.Com Poment with a book value of 5500,000 foriginal cost of $800,000 and accumulated depreciation of 500,000 for 600,000. Ondanuary 1, 2012 the equipment has an estimated remaining useful life of years and is deprecated using the straight-line method Required - Record necessary workpaper entries 2. Prepare Consolidated Statements using Cost Method 41 4G I 3-Question.pdf 2 Game CS Tam ded ament de PC Com Neste 12 met LU . P Company Company Balance Sheet Assets $1.000.000 $570.000 Current Assets Investment in company 1.100.000 Land 1.000.000 200.000 3,800,000 2.700.000 Property and Equipment Accumulated Depreciation Total Assets 1.520.000 960 000 55,470.000 $2.510.000 5670 000 $700 000 Capital Stock 3,000,000 P Company 5 Company Retained Cornings from above 1.000.000 1.800.000 810,000 1/1 Noncontrolling Interest in Net Assets 12/31 NCI in Net Assets Total Liabilities and Equity $5,470.000 $2.510,000 Assume that company acquires an interest in Company for $1,190,000 in 2010, when the retained earnings and capital stock of Company amount to 400,000 and 1,000,000 respectively. The retained earnings of Company on January 1, 2012, 5646.000. On Lanuary 1, 2012, 5 Company wells Company equipment with a book value of $500,000 foriginal cost of $800,000 and accumulated depreciation of $300.000 for $600.000. On January 1, 2012, the equipment has an estimated remainine useful life of 5 years and is depreciated using the straight-line method Required 1. Record necessary workpaper entries 3. Prepare Consolidated Statements using Cost Method 1.800.000 350.000 Retained Earnings from above 1/1 Non controlling interest in NetAssets 12/31 Ninet Assets Total Liabilities and Equity $5.000 $2.510,000 Assume that company acquires a BS interest in Company for $1.190,000 2000 when the retained earnings and capital stock of Company amount to 400,000 and 1,000,000 respectively. The rained anings of Company on lanuary 1, 2012, are $66.000.Ondanuary 2, 2012. S.Com Poment with a book value of 5500,000 foriginal cost of $800,000 and accumulated depreciation of 500,000 for 600,000. Ondanuary 1, 2012 the equipment has an estimated remaining useful life of years and is deprecated using the straight-line method Required - Record necessary workpaper entries 2. Prepare Consolidated Statements using Cost Method