Greenburg reports net income in 2019 of $119,000 and $100,500 in 2020. The subsidiary declared dividends of $20,000 in each of these two years Account balances for the year ending December 31, 2021, follow Credit balances are indicated by parentheses Greenburg $ (652,000 163,00 406,000 Revenues Cost of goods sold Depreciation expense Investment income Net Income Retained carnings, 1/1/21 Net income Dividends declared Retained earnings, 12/31/21 Current assets Investment in subsidiary Equipment (net) Buildings (oet) Land Yotal assets Liabilities Coemon stock Retained earnings Total Tibilities and equity FOXX 5 (868,000) 108,500 370,000 (20.00) $(409,500) $(1,246,060) (409,500) 120,00 5(1,535,500 $ 305,000 646,00 1,088,000 968,000 674,000 $ 3,681,000 $(1,245,500) (900.000 1.535,500 $(3,681,000) $ (83,090 $(376,500) (63,000) 20.00 $ (439,5e 5 118,000 e 700,000 526,000 122.000 $ 1,466,000 5 (726, See) (300,000 (429.500 5(1,466,000) . Determine the December 31, 2021, consolidated balance for each of the following accounts: Depreciation Expense Didends Declared Buildings Good Conto Stock b. How does the parents choice of an accounting method for its investment affect the balances computed in requirement (a) Which method of accounting for this subsidiary is the parent actually using for internal reporting purposes? d. Dette batent's investment income for 2021 under partial equlty method and equity method What would be Foxxo balance for retained earnings as of January 1, 2021 each of the following methods had been in use al value method Fathl any motion a. Determine the December 31, 2021. consolidated balance for each of the following accounts Depreciation Expense olvidends Declared Buildings Goodal Common Stock Equipent b. How does the parent's choice of an accounting method for its investment affect the balances computed in requirement (a)? Which method of accounting for this subsidiary is the parent actually using for internal reporting purposes? d. Determine parent's Investment income for 2021 under partial equity method and equity method e. What would be Foxx's Balance for retained earnings as of January 1, 2021. If each of the following methods had been in use? Initial value method Partial equity method Equity method Complete this question by entering your answers in the tabs below. RA Reg Banda Req D and E Detroine the December 31, 2021, consolidated balance for each of the following accounts: (Input all amount as positive us Consolidated Balances Depreciation opene Dividends declared Raven Equipment Bonding Boodwil L H l Reqanclc> b. How does the parent's choice of an accounting method for its investment affect the balances computed in requirement (a)? c. Which method of accounting for this subsidiary is the parent actually using for internal reporting purposes? d. Determine parent's investment income for 2021 under partial equity method and equity method e. What would be Foxx's balance for retained earnings as of January 1, 2021, if each of the following methods had been in use? Initial value method Partial equity method. Equity method Complete this question by entering your answers in the tabs below. Req A Req B and C Reg D and E b. How does the parent's choice of an accounting method for its investment affect the balances computed in requirement (a)? c. which method of accounting for this subsidiary is the parent actually using for internal reporting purposes? b. It affects the consolidated totals It affects the internal reporting of the parent, but not the consolidated totals It doesn't have any affect c. Initial value method O Partial equity method Equity method b. How does the parent's choice of an accounting method for its investment affect the balances computed in requirement (a)? c. Which method of accounting for this subsidiary is the parent actually using for internal reporting purposes? d. Determine parent's investment income for 2021 under partial equity method and equity method e. What would be Foxx's balance for retained earnings as of January 1, 2021, if each of the following methods had been in use? Initial value method. Partial equity method. Equity method Complete this question by entering your answers in the tabs below. Reg A Req B and C Reg D and E d. Determine parent's Investment Income for 2021 under partial equity method and equity method. e. What would be Foxx's balance for retained earnings as of January 1, 2021, if each of the following methods had been in Investment Income Retained Earnings Initial value method Partial equity method Equity method
