Need help on #31 please

tinues to hold? 31. On January 1, 2013, Telconnect acquires 70 percent of Bandmor for $490,000 cash. The remaining 30 percent of Bandmor's shares continued to trade at a total value of $210,000. The new subsidiary reported common stock of $300,000 on that date, with retained earnings of $180,000. A patent was undervalued in the company's financial records by $30,000. This patent had a 5-year remaining life. Goodwill of $190,000 was recognized and allocated pro- portionately to the controlling and noncontrolling interests. Bandmor earns net income and declares cash dividends as follows Year Net Income Dividends 2013 2014 2015 75,000 96,000 110,000 $39,000 44,000 60,000 On December 31, 2015, Telconnect owes $22,000 to Bandmor. a. If Telconnect has applied the equity method, what consolidation entries are needed as of b. If Telconnect has applied the initial value method, what Entry *C is needed for a 2015 c. If Telconnect has applied the partial equity method, what Entry *C is needed for a 2015 d. What noncontrolling interest balances will appear in consolidated financial statements 32. Miller Company acquired an 80 percent interest in Taylor Company on January 1, 2013. December 31, 2015? consolidation? consolidation? for 2015? Miller paid $664,000 in cash to the owners of Taylor to acquire these shares. In addition., the tinues to hold? 31. On January 1, 2013, Telconnect acquires 70 percent of Bandmor for $490,000 cash. The remaining 30 percent of Bandmor's shares continued to trade at a total value of $210,000. The new subsidiary reported common stock of $300,000 on that date, with retained earnings of $180,000. A patent was undervalued in the company's financial records by $30,000. This patent had a 5-year remaining life. Goodwill of $190,000 was recognized and allocated pro- portionately to the controlling and noncontrolling interests. Bandmor earns net income and declares cash dividends as follows Year Net Income Dividends 2013 2014 2015 75,000 96,000 110,000 $39,000 44,000 60,000 On December 31, 2015, Telconnect owes $22,000 to Bandmor. a. If Telconnect has applied the equity method, what consolidation entries are needed as of b. If Telconnect has applied the initial value method, what Entry *C is needed for a 2015 c. If Telconnect has applied the partial equity method, what Entry *C is needed for a 2015 d. What noncontrolling interest balances will appear in consolidated financial statements 32. Miller Company acquired an 80 percent interest in Taylor Company on January 1, 2013. December 31, 2015? consolidation? consolidation? for 2015? Miller paid $664,000 in cash to the owners of Taylor to acquire these shares. In addition., the