Advanced Study Guide .com This problem is a continuation of PS-13 Pie Corporation acquired 75 percent of Slice Company ownehip on January 1, 200, for 59.000. At that date, the fair value of the noncontrolling interest was $32,000. The book value of Slices net iets acquisition was 5100.000. The book values and values of Slice assets and liabilities were equal except for Slice buildings and equipment, which were worth $20.000 more than book value Accumulated depreciation on the busines and equipment was 530,000 on the acquisition date Buildings and equipment an deprecated on a 10 year hati Akhough goodwill is not amonixed, the management of Me concluded at December 31, 20X, that good is purchase of Sice shares had been impaired and the correct carrying amount was $2,500. Goodwill and goodwill impairment were assigned proportionately to the controlling and cooling shareholders No additional inpaiment occurred in 20x9 Trial balance data for Pe and Slice on December 31, 20X9, areas are as follows page 231 Pie Corporation Debit Credit Slice Company Debit Credit Item $ $ 32.000 14,000 24.000 25.000 150.000 Cash Accounts Receivable Inventory Land Buildings & Equipment Investment in Slice Company Cost of Goods Sold Wage Expense Depreciation Expense Interest Expense Other Expenses Dividends Declared Accumulated Depreciation Accounts Payable Wages Payable Notes Payable Common Stock Retained Earnings Sales Income from Slice Company 68.500 85.000 97.000 50,000 350,000 106.875 145,000 35,000 25,000 12.000 23.000 30,000 114,000 20.000 10,000 4,000 16.000 20.000 $ 170,000 51.000 14.000 150.000 200.000 126,875 290.000 25,500 $1,027.375 $ 50.000 15.000 6,000 50.000 60,000 48.000 200.000 $1,027 375 $429.000 $429.000 Required I. Give all consolidation entries needed to prepare a three-part consolidation worksheets of December 31, 2009 9. Prepare a three-purt consolidation worla heet for 20x9 in good for Prepare a consolidated balance sheet, income statement, and retained ning statement for 2009 Advanced Study Guide .com This problem is a continuation of PS-13 Pie Corporation acquired 75 percent of Slice Company ownehip on January 1, 200, for 59.000. At that date, the fair value of the noncontrolling interest was $32,000. The book value of Slices net iets acquisition was 5100.000. The book values and values of Slice assets and liabilities were equal except for Slice buildings and equipment, which were worth $20.000 more than book value Accumulated depreciation on the busines and equipment was 530,000 on the acquisition date Buildings and equipment an deprecated on a 10 year hati Akhough goodwill is not amonixed, the management of Me concluded at December 31, 20X, that good is purchase of Sice shares had been impaired and the correct carrying amount was $2,500. Goodwill and goodwill impairment were assigned proportionately to the controlling and cooling shareholders No additional inpaiment occurred in 20x9 Trial balance data for Pe and Slice on December 31, 20X9, areas are as follows page 231 Pie Corporation Debit Credit Slice Company Debit Credit Item $ $ 32.000 14,000 24.000 25.000 150.000 Cash Accounts Receivable Inventory Land Buildings & Equipment Investment in Slice Company Cost of Goods Sold Wage Expense Depreciation Expense Interest Expense Other Expenses Dividends Declared Accumulated Depreciation Accounts Payable Wages Payable Notes Payable Common Stock Retained Earnings Sales Income from Slice Company 68.500 85.000 97.000 50,000 350,000 106.875 145,000 35,000 25,000 12.000 23.000 30,000 114,000 20.000 10,000 4,000 16.000 20.000 $ 170,000 51.000 14.000 150.000 200.000 126,875 290.000 25,500 $1,027.375 $ 50.000 15.000 6,000 50.000 60,000 48.000 200.000 $1,027 375 $429.000 $429.000 Required I. Give all consolidation entries needed to prepare a three-part consolidation worksheets of December 31, 2009 9. Prepare a three-purt consolidation worla heet for 20x9 in good for Prepare a consolidated balance sheet, income statement, and retained ning statement for 2009
