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can you help me answer / understand please thank you It just requires a consolidated workpaper statement Pruitt Corporation owns 90% of the common stock
can you help me answer / understand please thank you
It just requires a consolidated workpaper statement
Pruitt Corporation owns 90% of the common stock of Sedbrook Company. The stock was purchased for $540,360 on January 1, 2012. when Sedbrook Company's retained earnings were $99,800. Preclosing trial balances for the two companies at December 31, 2016, are presented here: The January 1, 2016, inventory of Sedbrook Company includes $30.300 of profit recorded by Pruitt Corporation on 2015 sales. During 2016. Pruitt Corporation made intercompany sales of $201,900 with a markup of 25% on cost. The ending inventory of $edbrook Company includes goods purchased in 2016 from Pruitt for $50,500. Pruitt Corporation uses the complete equity method to record its investment in Sedbrook Company. (a) Prepare the consolidated statements workpaper for the year ended December 31. 2016. (List items that increase retained earninss first.) Fitaliedainentatament Alalnme Writh Pruitt Corporation owns 90% of the common stock of Sedbrook Company. The stock was purchased for $540,360 on January 1, 2012. when Sedbrook Company's retained earnings were $99,800. Preclosing trial balances for the two companies at December 31, 2016, are presented here: The January 1, 2016, inventory of Sedbrook Company includes $30.300 of profit recorded by Pruitt Corporation on 2015 sales. During 2016. Pruitt Corporation made intercompany sales of $201,900 with a markup of 25% on cost. The ending inventory of $edbrook Company includes goods purchased in 2016 from Pruitt for $50,500. Pruitt Corporation uses the complete equity method to record its investment in Sedbrook Company. (a) Prepare the consolidated statements workpaper for the year ended December 31. 2016. (List items that increase retained earninss first.) Fitaliedainentatament Alalnme Writh Step by Step Solution
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