Question
a. Prepare the journal entry to record the acquisition of the subsidiary. b. Prepare the consolidation entries for the year ended December 31, 2016. c.
a. Prepare the journal entry to record the acquisition of the subsidiary.
b. Prepare the consolidation entries for the year ended December 31, 2016.
c. Prepare the consolidated spreadsheet for the year ended December 31, 2016.
- Acquisition entry
- Consolidation entries
- Consolidation spreadsheet
| General Journal | ||
|---|---|---|
| Description | Debit | Credit |
| AnswerAPICDividendsEquity investmentInvestment incomeNo entryRetained earnings
| Answer
| Answer
|
| Common stock | Answer
| Answer
|
| AnswerAPICDividendsEquity investmentInvestment incomeNo entryRetained earnings
| Answer
| Answer
|
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Financial Accounting For Undergraduates
Authors: Wallace
4th Edition
1618533088, 9781618533081
