5.2

Pitino acquired 90 porcent of Ereys outstanding shares on Januafy 1, 2019, in exchange for 5477000 in cash. The subsidiary/5 stockholders equity accounts totaled $461,000, and the nonconitroling interest had a foir value of $53,000 on that day However, bulding fwith a ten-year remaining life) in Brey/s accounting records was undervalied by 543,000 . Pitino assigried the rest of the excess fair value over book value to Brey's patented technology (four year femaining tife) Brey reported net income from its own operations of 5790000 in 2019 and $95000 in 2020 : Brey declared dividends of $26, 500 . 2019 and 530,500 in 2020 Brey sells inventory to Pitino as followis At December 31, 2021, Pitino owes Brey $31,000 for inventory acquired during the period The following separate account balances are for these two companies for December 31, 2021, and the year then ended. Note: Parentheses iridicate a credit balance. a. What was the annual amortization resulting from the acquisition-date fair-value allocations? b. Were the intra-entity transfers upstream or downstream? c. What intra-entity gross profit in inventory existed as of January 1, 2021? d. What intra entity gross profit in inventory existed as of December 31, 2021? e. What amounts make up the $106,380 Equity Earnings of Brey account balance for 2021 ? f. What is the net income attributable to the noncontrolling interest for 2021? 9. What amounts make up the $604.440 investment in Brey account balance as of December 31 . 2021? h. Prepare the 2021 worksheet entry to eliminate the subsidiary's beginning owners' equity balances 1. Without preparing a worksheet or consolidation entries, determine the consolidation balances for these two companies a. What was the annual amortization resulting from the acquisition-date fair-value allocations? b. Were the intra-entity transfers upstream or downstream? c. What intra-entity gross profit in inventory existed as of January 1, 2021? d. What intra-entity gross profit in inventory existed as of December 31,2021 ? e. What amounts make up the $106,380 Equity Earnings of Brey account balance for 2021? f. What is the net income attributable to the noncontrolling interest for 2021 ? g. What amounts make up the $604,440 Investment in Brey account balance as of December 31,2021 ? h. Prepare the 2021 worksheet entry to eliminate the subsidiary's beginning owners' equity balances. i. Without preparing a worksheet or consolidation entries, determine the consolidation balances for these two Complete this question by entering your answers in the tabs below. a. What was the annual amortization resulting from the acquisition-date fair-value allocations? b. Were the intra-entity transfers upstream or downstream? c. What intra-entity gross profit in inventory existed as of January 1, 2021? d. What intra-entity gross profit in inventory existed as of December 31,2021 ? Complete this question by entering your answers in the tabs below. What amounts make up the $106,380 Equity Earnings of Brey account balance for 2021? a. What was the annual amortization resulting from the acquisition-date fair-value allocations? b. Were the intra-entity transfers upstream or downstream? c. What intra-entity gross profit in inventory existed as of January 1, 2021? d. What intra-entity gross profit in inventory existed as of December 31, 2021? e. What amounts make up the $106,380 Equity Earnings of Brey account balance for 2021 ? f. What is the net income attributable to the noncontrolling interest for 2021? g. What amounts make up the $604,440 Investment in Brey account balance as of December 31,2021 ? h. Prepare the 2021 worksheet entry to eliminate the subsidiary's beginning owners' equity balances. i. Without preparing a worksheet or consolidation entries, determine the consolidation balances for these two companles Complete this question by entering your answers in the tabs below. What is the net income attributable to the noncontrolling interest for 2021? Complete this question by entering your answers in the tabs below. What amounts make up the $604,440 Investment in Brey account balance as of December 31,2021 ? Prepare the 2021 worksheet entry to eliminate the subsidiary's beginning owners' equity balances. (If no entry is requir transaction/event, select "No journal entry required" in the first account field.) Consolidation Worksheet Entries Note: Enter debits before credits: Without preparing a worksheet or consolidation entries, determine the consolidation balances for these two companies. (Inf all amounts as positive values.)