Question
Complete the following working paper for consolidated balance sheet of AL Manama Corporation and subsidiary . (6 marks) ALMANAMA CORPORATION AND SUBSIDIARY Working Paper for
- Complete the following working paper for consolidated balance sheet of AL Manama Corporation and subsidiary. (6 marks)
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| ALMANAMA CORPORATION AND SUBSIDIARY Working Paper for Consolidated Balance Sheet September 30, 2017 | |||||
| Assets | AL Manama Corporation | Ahlia Company | Eliminations | Consolidated | ||
| Dr. | Cr. | |||||
| Inventories | 80,000 | 20,000 |
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| Other current assets | 60,000 | 240,000 |
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| Investment in Ahlia Co. | 550,000 |
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| Building (net) | 460,000 | 140,000 |
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| Total assets | 1,150,000 | 400,000 |
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| Liabilities & Stockholders' Equity |
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| Current liabilities | 190,000 | 30,000 |
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| Long-term debt | 260,000 | 90,000 |
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| Common stock, $1 par | 200,000 | 70,000 |
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| Additional paid-in capital | 100,000 | 50,000 |
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| Retained earnings | 400,000 | 160,000 |
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| Total liabilities & stockholders' equity | 1,150,000 | 400,000 |
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Fundamental Managerial Accounting Concepts
Authors: Thomas Edmonds
10th Edition
126410068X, 9781264100682
