Investment and NCI accounts

Questioni 5% Un January 1, 2009 ABC Ltd, purchases 35.000 of the outstanding 50,000 common shares of XYZ Ltd. for $210,000.XYZ retained earnings were $125,000 and Share Capital was $100,000 at this time. shares were trading at $5.75 Equipment was undervalued by $40,000 with a useful life of 4 years. Income for 2009 for XYZ Itd. was $50,000 and $40,000 dividends were paid. On January 1, 2010 ABC Ltd. Purchased another 5000 of the outstanding share capital for $35,000 Equipment was undervalued by $30,000 with a useful life of 3 years Income in 2010 was $60,000 and dividends of $40,000 were paid On January 1, 2011 ABC Ltd sold 14000 of its shares in XYZ Ltd. For $125,000 Income of XYZ Ltd. for 2011 was $100,000 and dividends of $40,000 were paid. Calculate the investment account(equity method) and NCI accounts for December 31, 2011 consolidati Prepare proofs Questioni 5% Un January 1, 2009 ABC Ltd, purchases 35.000 of the outstanding 50,000 common shares of XYZ Ltd. for $210,000.XYZ retained earnings were $125,000 and Share Capital was $100,000 at this time. shares were trading at $5.75 Equipment was undervalued by $40,000 with a useful life of 4 years. Income for 2009 for XYZ Itd. was $50,000 and $40,000 dividends were paid. On January 1, 2010 ABC Ltd. Purchased another 5000 of the outstanding share capital for $35,000 Equipment was undervalued by $30,000 with a useful life of 3 years Income in 2010 was $60,000 and dividends of $40,000 were paid On January 1, 2011 ABC Ltd sold 14000 of its shares in XYZ Ltd. For $125,000 Income of XYZ Ltd. for 2011 was $100,000 and dividends of $40,000 were paid. Calculate the investment account(equity method) and NCI accounts for December 31, 2011 consolidati Prepare proofs