ne Used 06 minutes, 45 seconds pletion Status oplex uses the complete equity method to account for its investment in Systembox on its own books The December 31, 2020 trial balances for Pyroplex and Systembox (six years after juisition) appear in the consolidation working paper provided Consol Dr (ar) Pyroplex Dr (Cr) $ 4,200 260,000 Systembox Dr (1) $ 650 20,000 Current assets Plant equipment, net Patents Investment in Systembox 17,600 Customer order backlog Trademarks Goodwill Current liabilities (11,300) (250) Long term liabilities (152,850) (8,900) Common stock (4,000) (400) Additional paid in capital (40,000) (2,000) Retained earnings, Jan 1 (70,000) 17,300) Dividends 100 Sales revenue (25,000) (10 000) Equity in net income of Systembox (1,450) Cost of goods sold 1 5,000 6,000 Operating expenses 7 000 2 100 Total ISSO 800 Required Present the 2020 consolidated income statement and the December 31, 2020 consolidated balance sheet in good form Ich File Browse My Computer Browse Content Collection ESTION 2 nica Company acquires 40 of the voting stock of Lexmark Corporation on January 1, 2018 for $ 60,000,000 and treats it as an equity method investment The book value on that date was $ 100 000 000 ook values approximated fair values except for machinery equipment that was undervalued by $ 10 000 000 (10 year life) building that was overvalued by $ 4 000 000 (4 year lifel Konica also found eviously unrecorded intangibles of $ 50 000 000 (indefinite life) Save and Submit to save and submit Click Save All Answers to save all answers Lep Additional Time Used 06 minutes en Browse My Computer Question Completion Status QUESTION 2 Konica Company acquires 40 of the voting stock of Lexmark Corporation on January 1, 2018 for $ 60 000 000 and treats it as an equity method investment The book value on that date was $ 100,000,000 Book values approximated fair values except for machinery equipment that was undervalued by $ 10,000,000 (10 year life), building that was overvalued by $4,000,000 (4 year life) Konica also found previously unrecorded intangibles of $ 50,000,000 (indefinite life) Lexmark reports the following income and dividends Dividends Date year ended December 31, 2018 December 31, 2019 December 31, 2020 December 31, 2021 Income $ 9,000,000 $ 6,000,000 $5,000,000 $ 5,000,000 10 0 $ 1,000,000 Konica sells inventory to Lexmark at a markup of 25 on cost and Lexmark sells to Konica at a markup of 30 on cost The following inventory balances are available Date Inventory held by Konica Inventory held by Lexmark December 31, 2020 $ 1,560,000 1,000,000 December 31, 2021 $ 2,600,000 1,025,000 Required a What is equity income reported by Konica on December 31, 2021 b What is the balance in the Investment in Lexmark account on December 31, 2021 Attach File Browse My Computer Browse Content Collection QUESTION 3 Here is date of acquisition information on Fizry Beverage's assets and liabilities (December 231, 2020 Book Value $ 2,000 18 000 $ 20 000 Fair Value $ 1,200 8,000 Current assets Property, plant and equipment, net Total assets 10 000 Liabilities Capital stock Retained earnings Accumulated other comprehensive income Treasury stock Total liabilities and equity S 10 000 2 500 7,400 300 (200) $ 20 000 Save Al Click Save and submit to save and submit Click Save All Answers to save all answers ne Used 06 minutes, 45 seconds pletion Status oplex uses the complete equity method to account for its investment in Systembox on its own books The December 31, 2020 trial balances for Pyroplex and Systembox (six years after juisition) appear in the consolidation working paper provided Consol Dr (ar) Pyroplex Dr (Cr) $ 4,200 260,000 Systembox Dr (1) $ 650 20,000 Current assets Plant equipment, net Patents Investment in Systembox 17,600 Customer order backlog Trademarks Goodwill Current liabilities (11,300) (250) Long term liabilities (152,850) (8,900) Common stock (4,000) (400) Additional paid in capital (40,000) (2,000) Retained earnings, Jan 1 (70,000) 17,300) Dividends 100 Sales revenue (25,000) (10 000) Equity in net income of Systembox (1,450) Cost of goods sold 1 5,000 6,000 Operating expenses 7 000 2 100 Total ISSO 800 Required Present the 2020 consolidated income statement and the December 31, 2020 consolidated balance sheet in good form Ich File Browse My Computer Browse Content Collection ESTION 2 nica Company acquires 40 of the voting stock of Lexmark Corporation on January 1, 2018 for $ 60,000,000 and treats it as an equity method investment The book value on that date was $ 100 000 000 ook values approximated fair values except for machinery equipment that was undervalued by $ 10 000 000 (10 year life) building that was overvalued by $ 4 000 000 (4 year lifel Konica also found eviously unrecorded intangibles of $ 50 000 000 (indefinite life) Save and Submit to save and submit Click Save All Answers to save all answers Lep Additional Time Used 06 minutes en Browse My Computer Question Completion Status QUESTION 2 Konica Company acquires 40 of the voting stock of Lexmark Corporation on January 1, 2018 for $ 60 000 000 and treats it as an equity method investment The book value on that date was $ 100,000,000 Book values approximated fair values except for machinery equipment that was undervalued by $ 10,000,000 (10 year life), building that was overvalued by $4,000,000 (4 year life) Konica also found previously unrecorded intangibles of $ 50,000,000 (indefinite life) Lexmark reports the following income and dividends Dividends Date year ended December 31, 2018 December 31, 2019 December 31, 2020 December 31, 2021 Income $ 9,000,000 $ 6,000,000 $5,000,000 $ 5,000,000 10 0 $ 1,000,000 Konica sells inventory to Lexmark at a markup of 25 on cost and Lexmark sells to Konica at a markup of 30 on cost The following inventory balances are available Date Inventory held by Konica Inventory held by Lexmark December 31, 2020 $ 1,560,000 1,000,000 December 31, 2021 $ 2,600,000 1,025,000 Required a What is equity income reported by Konica on December 31, 2021 b What is the balance in the Investment in Lexmark account on December 31, 2021 Attach File Browse My Computer Browse Content Collection QUESTION 3 Here is date of acquisition information on Fizry Beverage's assets and liabilities (December 231, 2020 Book Value $ 2,000 18 000 $ 20 000 Fair Value $ 1,200 8,000 Current assets Property, plant and equipment, net Total assets 10 000 Liabilities Capital stock Retained earnings Accumulated other comprehensive income Treasury stock Total liabilities and equity S 10 000 2 500 7,400 300 (200) $ 20 000 Save Al Click Save and submit to save and submit Click Save All Answers to save all answers

Question

ne Used  06 minutes, 45 seconds  pletion Status  oplex uses the complete equity method to account for its investment in Systembox on its own books  The December 31, 2020 trial balances for Pyroplex and Systembox (six years after juisition) appear in the consolidation working paper provided  Consol  Dr (ar) Pyroplex Dr (Cr) $ 4,200 260,000 Systembox Dr (1) $ 650 20,000 Current assets Plant   equipment, net Patents Investment in Systembox 17,600 Customer order backlog Trademarks Goodwill Current liabilities (11,300) (250) Long term liabilities (152,850) (8,900) Common stock (4,000) (400) Additional paid in capital (40,000) (2,000) Retained earnings, Jan  1 (70,000) 17,300) Dividends 100 Sales revenue (25,000) (10 000) Equity in net income of Systembox   (1,450) Cost of goods sold 1 5,000 6,000 Operating expenses 7 000 2 100 Total ISSO 800 Required Present the 2020 consolidated income statement and the December 31, 2020 consolidated balance sheet in good form  Ich File Browse My Computer Browse Content Collection ESTION 2 nica Company acquires 40  of the voting stock of Lexmark Corporation on January 1, 2018 for $ 60,000,000 and treats it as an equity method investment The book value on that date was $ 100 000 000 ook values approximated fair values except for machinery   equipment that was undervalued by $ 10 000 000 (10 year life) building that was overvalued by $ 4 000 000 (4 year lifel Konica also found eviously unrecorded intangibles of $ 50 000 000 (indefinite life)  Save and Submit to save and submit  Click Save All Answers to save all answers  Lep Additional Time Used  06 minutes en Browse My Computer Question Completion Status  QUESTION 2 Konica Company acquires 40  of the voting stock of Lexmark Corporation on January 1, 2018 for $ 60 000 000 and treats it as an equity method investment  The book value on that date was $ 100,000,000 Book values approximated fair values except for machinery   equipment that was undervalued by $ 10,000,000 (10 year life), building that was overvalued by $4,000,000 (4 year life) Konica also found previously unrecorded intangibles of $ 50,000,000 (indefinite life)  Lexmark reports the following income and dividends  Dividends Date  year ended December 31, 2018 December 31, 2019 December 31, 2020 December 31, 2021 Income $ 9,000,000 $ 6,000,000 $5,000,000 $ 5,000,000 10 0 $ 1,000,000 Konica sells inventory to Lexmark at a markup of 25  on cost and Lexmark sells to Konica at a markup of 30  on cost  The following inventory balances are available Date Inventory held by Konica Inventory held by Lexmark December 31, 2020 $ 1,560,000 1,000,000 December 31, 2021 $ 2,600,000 1,025,000 Required  a  What is equity income reported by Konica on December 31, 2021  b  What is the balance in the Investment in Lexmark account on December 31, 2021  Attach File Browse My Computer Browse Content Collection QUESTION 3 Here is date of acquisition information on Fizry Beverage's assets and liabilities (December 231, 2020  Book Value $ 2,000 18 000 $ 20 000 Fair Value $ 1,200 8,000 Current assets Property, plant and equipment, net Total assets 10 000 Liabilities Capital stock Retained earnings Accumulated other comprehensive income Treasury stock Total liabilities and equity S 10 000 2 500 7,400 300 (200) $ 20 000 Save Al Click Save and submit to save and submit  Click Save All Answers to save all answers ne Used  06 minutes, 45 seconds  pletion Status  oplex uses the complete equity method to account for its investment in Systembox on its own books  The December 31, 2020 trial balances for Pyroplex and Systembox (six years after juisition) appear in the consolidation working paper provided  Consol  Dr (ar) Pyroplex Dr (Cr) $ 4,200 260,000 Systembox Dr (1) $ 650 20,000 Current assets Plant   equipment, net Patents Investment in Systembox 17,600 Customer order backlog Trademarks Goodwill Current liabilities (11,300) (250) Long term liabilities (152,850) (8,900) Common stock (4,000) (400) Additional paid in capital (40,000) (2,000) Retained earnings, Jan  1 (70,000) 17,300) Dividends 100 Sales revenue (25,000) (10 000) Equity in net income of Systembox   (1,450) Cost of goods sold 1 5,000 6,000 Operating expenses 7 000 2 100 Total ISSO 800 Required Present the 2020 consolidated income statement and the December 31, 2020 consolidated balance sheet in good form  Ich File Browse My Computer Browse Content Collection ESTION 2 nica Company acquires 40  of the voting stock of Lexmark Corporation on January 1, 2018 for $ 60,000,000 and treats it as an equity method investment The book value on that date was $ 100 000 000 ook values approximated fair values except for machinery   equipment that was undervalued by $ 10 000 000 (10 year life) building that was overvalued by $ 4 000 000 (4 year lifel Konica also found eviously unrecorded intangibles of $ 50 000 000 (indefinite life)  Save and Submit to save and submit  Click Save All Answers to save all answers  Lep Additional Time Used  06 minutes en Browse My Computer Question Completion Status  QUESTION 2 Konica Company acquires 40  of the voting stock of Lexmark Corporation on January 1, 2018 for $ 60 000 000 and treats it as an equity method investment  The book value on that date was $ 100,000,000 Book values approximated fair values except for machinery   equipment that was undervalued by $ 10,000,000 (10 year life), building that was overvalued by $4,000,000 (4 year life) Konica also found previously unrecorded intangibles of $ 50,000,000 (indefinite life)  Lexmark reports the following income and dividends  Dividends Date  year ended December 31, 2018 December 31, 2019 December 31, 2020 December 31, 2021 Income $ 9,000,000 $ 6,000,000 $5,000,000 $ 5,000,000 10 0 $ 1,000,000 Konica sells inventory to Lexmark at a markup of 25  on cost and Lexmark sells to Konica at a markup of 30  on cost  The following inventory balances are available Date Inventory held by Konica Inventory held by Lexmark December 31, 2020 $ 1,560,000 1,000,000 December 31, 2021 $ 2,600,000 1,025,000 Required  a  What is equity income reported by Konica on December 31, 2021  b  What is the balance in the Investment in Lexmark account on December 31, 2021  Attach File Browse My Computer Browse Content Collection QUESTION 3 Here is date of acquisition information on Fizry Beverage's assets and liabilities (December 231, 2020  Book Value $ 2,000 18 000 $ 20 000 Fair Value $ 1,200 8,000 Current assets Property, plant and equipment, net Total assets 10 000 Liabilities Capital stock Retained earnings Accumulated other comprehensive income Treasury stock Total liabilities and equity S 10 000 2 500 7,400 300 (200) $ 20 000 Save Al Click Save and submit to save and submit  Click Save All Answers to save all answers

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ne Used: 06 minutes, 45 seconds. pletion Status: oplex uses the complete equity method to account for its investment in Systembox on its own books.

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