Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Charles a Shoe Company acquired all of Dorathy Company's outstanding stock on 1/1/22, for $210,000 in cash. Annual excess amortization of $23,000 results from
Charles a Shoe Company acquired all of Dorathy Company's outstanding stock on 1/1/22, for $210,000 in cash. Annual excess amortization of $23,000 results from this transaction. On 1/1/22, Charles reported retained earnings of $305,000, and Dorathy reported retained earnings of $140,000 Company Charles Dorathy 2022-Ni 122,000 48000 2022-div 37000 11000 2023-Ni 127000 55000 Under each of the following, what is the investment balance on Batman's books on 1/1/23? method equity Partial equity method Initial value method 2023-div 41,000 17000 b. Under each of the 3 methods, what is the consolidated balance of the investment account on the consolidated BS as of 12/31/23 after all consolidating JEs have been done? method equity Partial equity Initial value c. Under each of the following, what is CJE I and D on the 2022 and 2023 consolidation WS? What is CJE C? If no JE is necessary, put N/A. Make sure to identify which retained earnings (parent or subsidiary).
Step by Step Solution
★★★★★
3.32 Rating (158 Votes )
There are 3 Steps involved in it
Step: 1
a Investment Balance on Charless Books on 1123 Equity Method Initial Investment 210000 Net Income Sh...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started