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i am very confused, any help would be greatly appreciated :) thank you! need consolidation entries for 2014, 2015, and 2016 on the spreadsheets i
i am very confused, any help would be greatly appreciated :) thank you!
need consolidation entries for 2014, 2015, and 2016 on the spreadsheets i took pictures of
i keep being told to edit, could someone elaborate on what is missing.
On December 31, 2013, just prior to the acqubtion, the batance sheets of Plant Company and Sun Company wore as fobows: Required: 1. Assume that Plant accounts for the acquisition using the Equity method. Use the information above as weil as the incomplete workaheet information presented on the following pages to consolidate the financial statements for Plant and 5 un for 2014,2015s. 2016. * In working the consolidations, please provide the following informationt. 1. The Equity method entries that Plant would make each year 2. The Alocation 5 chedule to allocate excess fair values 3. The consollidation entries 4. The Completed worksheetsshowing the consolidated totals 2. Assume that Plant accounts for the acquisition using the inltial Value method (i.e., the Coit method). Use the information above as wall as the appropelath incomplete worksheet information to consolidate the financial statementsfor Plant and Sun for 2014, 2015 and 2016 . Please provide ail the caine in'srt atipe as it a Note: If no journal entry is required, please indicate that "no journal entry" is needed. NOTE Please do not amortize Liability and do not adjust the interest expense associated with the undervalued liability. Only undervalued or overvalued assets need the annual amortination. However, you still need to allocated the excess fV to the flability by the same amount every Pre-consolidation Workmheet 12J3/2014 INCOMESTATEMENT Net sales Cost of sales Other expenses Equity income: Consolidated NI \begin{tabular}{|r|r|} \hline 800,000 & 650,000 \\ \hline 410,000 & 250,000 \\ \hline 215,000 & 50,000 \\ \hline 280,000 & \\ \hline 455,000 & 350,000 \\ \hline \end{tabular} To NCl To Controlling interes STATEMENT OF RETAINED EARNINGS Retained earnings, 1/1/2014 NI Divs. End AE. BALANCE SHEET A.Alocations Hncome Elimination D-Dividend Glimination E-Eppense Nlocation - Pre-consolidation worksheet 12/31/2015 BALANCE SHEET On December 31, 2013, just prior to the acqubtion, the batance sheets of Plant Company and Sun Company wore as fobows: Required: 1. Assume that Plant accounts for the acquisition using the Equity method. Use the information above as weil as the incomplete workaheet information presented on the following pages to consolidate the financial statements for Plant and 5 un for 2014,2015s. 2016. * In working the consolidations, please provide the following informationt. 1. The Equity method entries that Plant would make each year 2. The Alocation 5 chedule to allocate excess fair values 3. The consollidation entries 4. The Completed worksheetsshowing the consolidated totals 2. Assume that Plant accounts for the acquisition using the inltial Value method (i.e., the Coit method). Use the information above as wall as the appropelath incomplete worksheet information to consolidate the financial statementsfor Plant and Sun for 2014, 2015 and 2016 . Please provide ail the caine in'srt atipe as it a Note: If no journal entry is required, please indicate that "no journal entry" is needed. NOTE Please do not amortize Liability and do not adjust the interest expense associated with the undervalued liability. Only undervalued or overvalued assets need the annual amortination. However, you still need to allocated the excess fV to the flability by the same amount every Pre-consolidation Workmheet 12J3/2014 INCOMESTATEMENT Net sales Cost of sales Other expenses Equity income: Consolidated NI \begin{tabular}{|r|r|} \hline 800,000 & 650,000 \\ \hline 410,000 & 250,000 \\ \hline 215,000 & 50,000 \\ \hline 280,000 & \\ \hline 455,000 & 350,000 \\ \hline \end{tabular} To NCl To Controlling interes STATEMENT OF RETAINED EARNINGS Retained earnings, 1/1/2014 NI Divs. End AE. BALANCE SHEET A.Alocations Hncome Elimination D-Dividend Glimination E-Eppense Nlocation - Pre-consolidation worksheet 12/31/2015 BALANCE SHEET Step by Step Solution
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