Question
explain the answer in an easy and understand way ADDITIONAL INFORMATION 1.All Sle's assets and liabilities were recorded at fair values equal to book values
explain the answer in an easy and understand way
ADDITIONAL INFORMATION
1.All Sle's assets and liabilities were recorded at fair values equal to book values on January 3, 2011.
2.The current liabilities of Sle at December 31, 2012 include dividends payable of $20,000.
REQUIRED:
Determine the amounts that should appear in the consolidated statements of Por Corporation and Subsidiary at December 31, 2012, for each of the following:
1.Noncontrolling interest share.
2.Current assets.
3.Income from Sle.
4.Capital stock.
5.Investment in Sle.
6.Excess of investment fair value over book value.
7.Consolidated net income for the year ended December 31, 2012.
8.Consolidated retained earnings, December 31, 2011.
9.Consolidated retained earnings, December 31, 2012.
10.Noncontrolling interest, December 31, 2012
Step by Step Solution
There are 3 Steps involved in it
Step: 1
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