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Need help calculating deferred profit and sale of land. and not sure if the rest of it is correct either. here are the facts that
Need help calculating deferred profit and sale of land. and not sure if the rest of it is correct either.
here are the facts that I used for the other 8 numbers/calculations
In the space below, show the changes in the Investment in Silk account from acquisition on 1/1/2022 through 12/31/2023 for the equity method. This will be helpful for your consolidation worksheet in part 3 . This is similar to exhibits 3.6 or 4.4 in your textbook. \begin{tabular}{lr} \hline Initial investment, 1/1/22 & 675,000 \\ \hline Dividends & 15,000 \\ \hline Income of Silk & 60,000 \\ \hline Amortization & (2,850) \\ \hline Investment in Silk 12/31/22 & 747,150 \\ \hline Dividends & (36,000) \\ \hline Income of Silk & 120,000 \\ \hline Amortization & (2,850) \\ \hline Deferred profit & \\ \hline Deferred gain on sale of land & \\ \hline Investment in Silk 12/31/23 & \\ \hline \end{tabular} In the space below, show the changes in the Investment in Silk account from acquisition on 1/1/2022 through 12/31/2023 for the equity method. This will be helpful for your consolidation worksheet in part 3 . This is similar to exhibits 3.6 or 4.4 in your textbook. \begin{tabular}{lr} \hline Initial investment, 1/1/22 & 675,000 \\ \hline Dividends & 15,000 \\ \hline Income of Silk & 60,000 \\ \hline Amortization & (2,850) \\ \hline Investment in Silk 12/31/22 & 747,150 \\ \hline Dividends & (36,000) \\ \hline Income of Silk & 120,000 \\ \hline Amortization & (2,850) \\ \hline Deferred profit & \\ \hline Deferred gain on sale of land & \\ \hline Investment in Silk 12/31/23 & \\ \hline \end{tabular}
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