Answered step by step
Verified Expert Solution
Question
1 Approved Answer
i send you all the The question what's wrong with it? pleas doit as soon as bossible Problem 1 - Consolidation Workpapers Refer to this
i send you all the
Problem 1 - Consolidation Workpapers Refer to this data to answer questions 2123. Parent Corporation acquired an 80N interest in Sub corporation for $300,000 on danuary 1, 20x4 when Sub's stockholders' equity contisted of 5200,000 capital stock and 575,090 retained earnings. The excess cost over book value acquired was allocated to irweritory that was overvalued by 550,000 and sold in 20x4 to equipment that wat undervalued by $100,000 and to goodwill The undervalued equpment had an 6 -year rembining useful life. - Parent regularly sells imventory to 5ub at 125% of cost intercompary salei were $200.000 in 2005 and $100.000 in 206. 50 trs inventory inkluded $15,000 of this merchandise at 12/31/205 and $20,000 of this merchandice at 12/31/20x6. - On October 1,20x4 Sub sold Parent a buiding for $110.000. 5 b had originally paid 5150.000 for the buiding and had accumulsted depreciation as of the date of rale of 590000 . Parent is depreciating the buiking at a rate of 522,000 per 12 -manth period. - During 204 Sub sold land for which it had paid $50,000 to Parent for 365,000 Parent revold the land to outsiders during 206 for $75,000. 21 Prepare the Reslitation and Amortization Schedule, as demonstrated in class, for years 20x4 20x6. Click Here to Download the Excel File here. a. Using thes schedule do a visual comparison to preve the calculation of: Inceme from Sub for 206 Investment in 5ub at 12/31/206 b. Using this schedule, calculate the NCI share of income for 20x6 and the NCI share of equity at 12/31/206. Requirement 1: Realization and Amortization Schedule The question what's wrong with it? pleas doit as soon as bossible
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started