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I need help solving this also b. Prepare a consolidated statement of cash flows for 20X3. Pear Corporation acquired 75 percent ownership of Sugar Company
I need help solving this also
b. Prepare a consolidated statement of cash flows for 20X3.
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: Jan. 1. 2ex3 Dec. 31, 2ex3 Item Assets Cash Accounts Receivable Inventory Land Buildings & Equipment Less: Accumulated Depreciation Patents Total Assets Liabilities and Owners' Equity Accounts Payable Wages Payable Notes Payable Common Stock ($10 par value) Retained Earnings Noncontrolling Interest Total Liabilities and Owners' Equity $ 81,580 93,000 115.000 50.800 535,000 (183,500) 9,000 $ 788,888 $ 113.500 188.888 123,000 60.ee 570,000 (220,288) 8,000 $ 762,580 $ $ 59,900 17.000 248.000 134,000 216,000 26,280 $ 788,888 64.888 11.288 263,000 134.088 268.588 30. Bee 762,500 $ The consolidated Income statement for 20x3 contained the following amounts: $ 454,250 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 $240,00 48.888 36,500 12.000 1.000 27.eee $ (364,500) 89,750 (10,250) 79,500 $ Pear and Sugar pald dividends of $35.000 and $25.000, respectively. In 20X3. Required: a. Prepare a worksheet to develop a consolidated statement of cash flows for 20X3 using the Indirect method of computing cash flows from operations. (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.) PEAR CORPORATION AND SUBSIDIARY Consolidated Cash Flow Worksheet Year Ended December 31, 20X3 Consolidation Entries Balance Dahit Credit Item Balance 12/31/X3 Assets Cash Accounts receivable Inventory Land Buildings and equipment Less: Accumulated depreciation Patents Total Assets Liabilities & Equity Accounts payableStep by Step Solution
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