answer the following questions: What is the value in cell F13 What is the value in cell
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answer the following questions:
What is the value in cell F13 |
What is the value in cell F14 |
What is the value in cell F16 |
What is the value in cell F18 |
What is the value in cell F19 |
What is the value in cell F25 |
What is the value in cell F29 |
What is the value in cell F34 |
What is the value in cell F37 |
What is the value in cell F47 |
What is the value in cell F50 |
What is the value in cell F53 |
What is the value in cell F60 |
What is the value in cell F65 |
What is the value in cell F68 |
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A B D E F G H I K L M N A D E G H K L M N 0 P Q 1 Big owns 80% of Little. 2 Assume that at acquisition there was no differential. 39 40 3 On 1/1/22 Little issues $100,000 of 10%, 10 year bonds at 103. 4 The bonds are dated 1/1/22, and pay interest each 12/31 5 On 1/1/24 Big buys the bonds on the open market at 102 41 42 2025 Big Little 43 Sales 300,000 254,000 7 Worksheets for 2024 and 2025 are provided below. Provide appropriate elimination entries and complete the worksheets 9 Both firms use straight-line amortization, and Big uses the full equity method to account for their investment in Little 10 44 Interest expense 9,700 45 Interest revenue 9,750 46 Other expenses 280,000 230.000 47 Gain/loss on bond retirement 11 2024 12 Sales 13 Interest expense 14 Interest revenue 15 Other expenses 16 Gain/loss on bond retirement 17 Investment income Big Little dr cr 290,000 245,000 9,700 9,750 276,000 230,000 4,520 Consolidated 535,000 9,700 0 506,000 48 Investment income 11,400 1 0 What is the value in cell F13 49 Net income 2 0 What is the value in cell F14 3 0 What is the value in cell F16 50 Income to NC Interest 4 29,000 What is the value in cell F18 51 Income to controlling interest 5 0 What is the value in cell F19 52 18 Net income 19 Income to NC Interest 20 Income to controlling interest 21 22 Beginning R/E 0 29,000 6 0 What is the value in cell F25 53 Beginning R/E 228,270 7 0 What is the value in cell F29 54 Add: Income 8 0 What is the value in cell F34 9 0 What is the value in cell F37 55 Less: Dividends 0 10 What s the value in cell F47 56 Ending R/E 200,000 150,000 11 0 What is the value in cell F50 57 23 Add: Income 12 0 What is the value in cell F53 58 Current assets 20,000 60,000 24 Less: Dividends 25 Ending R/B 26 27 Current assets 0 10,000 13 0 What is the value in cell F60 59 Investment in Little 159,920 14 0 What is the value in cell F65 60 Investment in bonds 101,500 15 0 What is the value in cell F68 61 Other Non-current assets 168,000 271,400 33 Bonds payable 20,000 50,000 28 Investment in Little 148,520 29 Investment in bonds 101,750 30 Other Non-current assets 138,000 267,400 31 32 Current liabilties 60,000 30,000 100,000 62 63 64 Current liabilties 60,000 65 Bonds payable 66 Premium on bonds 30,000 100,000 1,800 67 Common stock 120,000 40,000 34 Premium on bonds 2,100 35 Common stock 120,000 40,000 68 Retained earnings 36 Retained earnings 37 NC Interest 69 NC Interest 70 38 39 71 72 A B D E F G H I K L M N A D E G H K L M N 0 P Q 1 Big owns 80% of Little. 2 Assume that at acquisition there was no differential. 39 40 3 On 1/1/22 Little issues $100,000 of 10%, 10 year bonds at 103. 4 The bonds are dated 1/1/22, and pay interest each 12/31 5 On 1/1/24 Big buys the bonds on the open market at 102 41 42 2025 Big Little 43 Sales 300,000 254,000 7 Worksheets for 2024 and 2025 are provided below. Provide appropriate elimination entries and complete the worksheets 9 Both firms use straight-line amortization, and Big uses the full equity method to account for their investment in Little 10 44 Interest expense 9,700 45 Interest revenue 9,750 46 Other expenses 280,000 230.000 47 Gain/loss on bond retirement 11 2024 12 Sales 13 Interest expense 14 Interest revenue 15 Other expenses 16 Gain/loss on bond retirement 17 Investment income Big Little dr cr 290,000 245,000 9,700 9,750 276,000 230,000 4,520 Consolidated 535,000 9,700 0 506,000 48 Investment income 11,400 1 0 What is the value in cell F13 49 Net income 2 0 What is the value in cell F14 3 0 What is the value in cell F16 50 Income to NC Interest 4 29,000 What is the value in cell F18 51 Income to controlling interest 5 0 What is the value in cell F19 52 18 Net income 19 Income to NC Interest 20 Income to controlling interest 21 22 Beginning R/E 0 29,000 6 0 What is the value in cell F25 53 Beginning R/E 228,270 7 0 What is the value in cell F29 54 Add: Income 8 0 What is the value in cell F34 9 0 What is the value in cell F37 55 Less: Dividends 0 10 What s the value in cell F47 56 Ending R/E 200,000 150,000 11 0 What is the value in cell F50 57 23 Add: Income 12 0 What is the value in cell F53 58 Current assets 20,000 60,000 24 Less: Dividends 25 Ending R/B 26 27 Current assets 0 10,000 13 0 What is the value in cell F60 59 Investment in Little 159,920 14 0 What is the value in cell F65 60 Investment in bonds 101,500 15 0 What is the value in cell F68 61 Other Non-current assets 168,000 271,400 33 Bonds payable 20,000 50,000 28 Investment in Little 148,520 29 Investment in bonds 101,750 30 Other Non-current assets 138,000 267,400 31 32 Current liabilties 60,000 30,000 100,000 62 63 64 Current liabilties 60,000 65 Bonds payable 66 Premium on bonds 30,000 100,000 1,800 67 Common stock 120,000 40,000 34 Premium on bonds 2,100 35 Common stock 120,000 40,000 68 Retained earnings 36 Retained earnings 37 NC Interest 69 NC Interest 70 38 39 71 72
Expert Answer:
Related Book For
Intermediate Accounting
ISBN: 978-1119048541
11th Canadian edition Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy
Posted Date:
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