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I need help with investment in sierra. I have no idea what went wrong. Above is showing that it won't take any of the answers.

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I need help with investment in sierra. I have no idea what went wrong. Above is showing that it won't take any of the answers.

Padre, Inc., buys 80 percent of the outstanding common stock of Sierra Corporation on January 1, 2021, for $791.520 cash. At the acquisition date, Sierra's total fair value, including the noncontrolling Interest, was assessed at $989.400 although Sierra's book value was only $638,000. Also, several Individual items on Sierra's financial records had fair values that differed from their book values as follows: Land Buildings and equipment (18-year remaining life) Copyright (20-year remaining life) Notes payable (due in 8 years) Book Value $ 65,200 295,00 184,888 (187,600) Fair Value $ 387,200 276,00 218,000 (172,688) For Internal reporting purposes. Padre, Inc., employs the equity method to account for this investment. The following account balances are for the year ending December 31, 2021. for both companies. Sierra $ (647,888) 426,000 15,500 5,200 5,300 Revenues Cost of goods sold Depreciation expense Amortization expense Interest expense Equity in income of Sierra Net income Retained earnings, 1/1/21 Net income Dividends declared Retained earnings, 12/31/21 Current assets Investment in Sierra Land Buildings and equipment (net) Copyright Total assets Accounts payable Notes payable Connon stock Additional paid in capital Retained earnings (above) Total liabilities and equities Padre $(1,481, 189) 770,000 264, eee 0 50,700 (151,520) $ (468,888) $(1,492,500) (468,000) 260, eee $(1,788,588) $ 998,460 891,040 349,00 944, eee 0 $ 3,182,588 $ (285,000) (527,000) (388,888) (450,000) (1,780,582) $(3,182,580) $ (195, eee) $ (478,000) (195,880) 65,000 $ (608, eee) $ 681,5ee 65,280 279,580 98,888 $ 1,125,000 $ (178,888) (187,080) (188,888) (68,888) (68B,eee) $(1,125, eee) At year-end, there were no Intra-entity receivables or payables. Prepare a worksheet to consoldate the financial statements of these two companies. (For accounts where multiple consolidation 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. Input all amounts as positive values.) Accounts Answer is complete but not entirely correct. PADRE INC., AND BIERRA CORPORATION Concolldated Workcheat For Year Ending December 31, 2021 Concelldation Entries Padre Blerta Debit Credit Noncontrolling Interest Is 1.401,180 $ (647,000) 770.000 425.000 264.000 15.500 1,900 5.200 5.700 50,700 5.300 1,800 (151.520 151.520 Is (468.000 S (195.000 Consolidated Totalt (2048.180 1,195.000 277.600 10.500 57.800 0 37.80 15 505,880 37,80 15 450.000 $11.492.500) 478.000 $ 478.000 (195,000 65.000 52.000 13.000 Revenues Cost of goods sold Depreciation expense Amortization ponse Interest expense Equity in income of Sierra Separate company net income Consoldated net income Nato no controlling interest No Padre Company Retained comings, 1/1/21 Not income Dividends declared Retained earnings, 123121 Current assets Investment in Soma Land Buildings and equipment Copyright Total assets Accounts payable Notes payable NOI in Sierra 111 Niin Sierra 12/31 Common stock Additional paiden capital Retained comings (above) Totallables and equities 11.492.500 (468,000 260.000 Is (1.700.00 Is 998.480 891,040 349.000 944.000 $ 1608.000 Is 681,500 891,0403 891,040 891,0403 242.000 1.900 114.000 (468.000 260.000 IS (1.700.500) 5 1,679.950 0 666 200 1,206,400 207.100 15 3,749.680 S (375.000 (701.2001 65.200 279.500 98.800 $ 1,125.000 $ (170,000 (187.000 19.000 5.700 $ 3,182.500 $ 205,000 (527.000 14400 1.800 197,880 197,880 222.750 15 200.000 (450.000 (1.700.000 (100,000) 150,000 100.000 60.000 222.750 300.000) (450.000 (1.700.500) $ 3.749.560) GOB.DOO 2.182.00 12.060.350

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