looking for help on question 2 a-h.

Questions 1. CCES Corporation acquires a controlling interest in Schmaling, Inc. CCES may utilize any one of three methods to internally account for this investment. Deseribe ench of these methods, and indicate their advantages and disadvantages. 2. Maguire Company obtains 100 percent control over Williams Company. Several years after the takeover, consolidated financial statements are being produced. For each of the following accounts, briefly describe the values that should be included in consolidated totals. a. Equipment. b. Investment in Williams Company. c. Dividends Declared. d. Goodwill. e. Revenues. f. Expenses. 8. Common Stock. h. Net Income. 3. When a parent company uses the equity method to account for an investment in a subsidiary, why do both the parent's Net Income and Retained Earnings account balances agree with the consolidated totals? 4. When a parent company uses the equity method to account for investment in a subsidiary, the amortization expense entry recorded during the year is eliminated on a consolidation worksheet as a component of Entry I. What is the necessity of removing Page 129 this amortization? 5. When a parent company applies the initial value method or the partial equity method to an investment, a worksheet adjustment must be made to the parent's beginning Retained Earnings account (Entry C) in every period after the year of acquisition. What is the necessity for this entry? Why is no similar entry found when the parent utilizes the equity method? / 954 129