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Data Parent's share of subsidiary 100% FV of Sub's assets FV of Sub's liabilities Current assets 59,000 Current liabilities 24,000 Non current assets 45,000 ASSETS
Data | ||||||||||
Parent's share of subsidiary | 100% | |||||||||
FV of Sub's assets | FV of Sub's liabilities | |||||||||
Current assets | 59,000 | Current liabilities | 24,000 | |||||||
Non current assets | 45,000 | |||||||||
ASSETS | LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||||
Parent | Subsidiary | Eliminate | Consolidate | Parent | Subsidiary | Eliminate | Consolidate | |||
Current Assets | 143,000 | 56,000 | Current liabilities | 147,000 | 32,000 | |||||
Investment in Subsisdiary | 80,000 | Minority Interest | ||||||||
Goodwill | ||||||||||
Non-Current assets | 182,000 | 49,000 | Common stock | 258,000 | 73,000 | |||||
TOTAL ASSETS | 405,000 | 105,000 | TOTAL LIAB & STOCK EQ | 405,000 | 105,000 | |||||
Elimination Entry | ||||||||||
Debit | Credit | |||||||||
Totals | ||||||||||
advanced accounting, can each section for journal entry be completed?
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