A, derive the investment on the parents books at 12/31/01

B, prepare journal entries for the consolidation and put on worksheet. dont complete worksheet

3 Ruland acquires 100% of the shares of Nu on January 1 2001 for $ 20 Nu on that date was S670. Additional information with respect to Nu on January ary 1 2001 for $1020 The book value of Book value Market value Land 60 120 315 Building (20 year remaining life) Copyright (10 year remaining life) 275 100 160 275 Building (20 year remaining life Copyright 10 year remaining 100 Following and consisted worksheet balances as of December 31, 200 Account Roland 320) (740) Sales 1700 485 Cost of goods sold Depreciation and Amort 260 Interest Exp 1227) Income from Nu (1583) (235) Income (1265) 1440) (235) (1583) Beginning RE Income (brought forward) Less: Dividends Ending RE 360 65 (2488) (610) 1526 743 Current Asset 1182 Investment in Nu Corp. 292 Land Building and equipment, net 876 116 3070 Accounts payable (263) Notes Payable (450) (60) Caps Stock 1300) 100) ADIC (45) (130) Retained earning (2489) (610) Tota 3975 1163 Required: huo A Using the above information, derive the investment on the parents books at 12/31/01 (employ the full equity method and round off pennies to nearest dollar) E Prepare the journal entries for the consolidation and put on worksheet. Don't complete worksheet bol 10 3 Ruland acquires 100% of the shares of Nu on January 1 2001 for $ 20 Nu on that date was S670. Additional information with respect to Nu on January ary 1 2001 for $1020 The book value of Book value Market value Land 60 120 315 Building (20 year remaining life) Copyright (10 year remaining life) 275 100 160 275 Building (20 year remaining life Copyright 10 year remaining 100 Following and consisted worksheet balances as of December 31, 200 Account Roland 320) (740) Sales 1700 485 Cost of goods sold Depreciation and Amort 260 Interest Exp 1227) Income from Nu (1583) (235) Income (1265) 1440) (235) (1583) Beginning RE Income (brought forward) Less: Dividends Ending RE 360 65 (2488) (610) 1526 743 Current Asset 1182 Investment in Nu Corp. 292 Land Building and equipment, net 876 116 3070 Accounts payable (263) Notes Payable (450) (60) Caps Stock 1300) 100) ADIC (45) (130) Retained earning (2489) (610) Tota 3975 1163 Required: huo A Using the above information, derive the investment on the parents books at 12/31/01 (employ the full equity method and round off pennies to nearest dollar) E Prepare the journal entries for the consolidation and put on worksheet. Don't complete worksheet bol 10