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I need help in this question. please do it correctly and 100% 07 Pear Corporation acquired 75 percent ownership of Sugar Company on January 1,
I need help in this question. please do it correctly and 100%
07 Pear Corporation acquired 75 percent ownership of Sugar Company on January 1, 20X1. at underlying book value. At that date, the fair value of the noncontrolling Interest was equal to 25 percent of the book value of Sugar Company. Consolidated balance sheets at January 1, 20X3, and December 31, 20X3, are as follows: 5 points Jan. 1, 2ex3 Dec. 31, 28X3 . eBook $ 84,5ee 87,680 119,080 49,680 518,888 (182,500) 8,888 $ 683,80 $ 116,5ee 102,80 127.000 59,880 553,880 (219,880) Iten Assets Cash Accounts Receivable Inventory Land Buildings & Equipment Less: Accumulated Depreciation Patents Total Assets Liabilities and Owners' Equity Accounts Payable Wages Payable Notes Payable Connon stock (510 par value) Retained Earnings Noncontrolling Interest Total Liabilities and Owners' Equity 7.800 $ 745,500 References $ 53,880 26,080 242, see 138,689 283,680 21,880 $ 683,680 $ 58,eee 28,888 257,00 138,888 247.500 25,800 $ 745, see The consolidated Income statement for 20x3 contained the following amounts: $ 462,000 Sales Cost of Goods Sold Wage Expense Depreciation Expense Interest Expense Amortization Expense Other Expenses Consolidated Net Income Income to Noncontrolling Interest Income to Controlling Interest $245,680 55,000 36,582 11.ee 1,000 25,000 (373,580) $ 88,500 (10,889) $ 78,500 Pear and Sugar paid dividends of $34.000 and $24.000, respectively, in 20x3. 5 Required: .. Prepare a worksheet to develop a consolidated statement of cash flows for 20x3 using the Indirect method of computing cash flows from operstions. (Values in the first two columns (the "parent" and "subsidiary" balances) that are to be deducted should be Indicated with a minus sign, while all values in the "Consolidation Entries" columns should be entered as positive values. For accounts where multiple adjusting entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries Into one amount and enter this amount in the credit column of the worksheet.) ginta Balance 1231000 Raven PEAR CORPORATION AND SUBSIDIARY Consolidated Cash Flow Worksheet Year Ended December 31, 20X3 Concoildation Entries Balance Item Debit Credit 17103 Accets Cach Accounts receivable Inventory Land Buildings and equipment Less: Accumulated depreciation Patents Total Asunts Llabilities & Equity Accounts payabia Waons payable Notas payable Common stock Retained amings Non controlling interest Total Liabilities & Equity Cash Flows from Operating Activities Consolidated not income Depreciation expense Amortization of patent Changes in operating assets and tables Increase in accounts receivable Increase in inventory Increase in accounts payable Decrease in wages payabia Cash Flows from Investing Activities: Purchase of land Purchase of buildings and equipment Cash Flows from Financing Acties Increase in notes payable Dividends Paid To Pear Corporation Shareholders To Sugar Company shareholders Increase in cash b. Prepares consolidated statement of cash flows for 20X3. (Amounts to be deducted should be indicated with a minus sign.) PEAR CORPORATION AND SUBSIDIARY Consoldated Statement of Cach Flow Year Ended December 31, 20X3 Cash Flows from Opening Activities Adustments for nonosh toms Changes in operating Assets and liabilities: Cash Flows from Investing Activities: Cash Flows from Financing Acties: Cash at beginning of your Cash and of year
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