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need help with a-f. I have the consolidated worksheet already typed up. HH4E - - P54 Solution Income Statement Sales Cost of goods sold Gross
need help with a-f. I have the consolidated worksheet already typed up.
HH4E - - P54 Solution Income Statement Sales Cost of goods sold Gross profit Deprec. & amort. expense Operating expenses Interest expense Total Expenses 2 Income (loss) from subsidiary Net income 4 5 Retained earnings statement: 16 BOY retained earnings 17 Net income 18 Dividends 19 Ending retained earnings 20 21 Balance sheet: 22 Assets 23 Cash 24 Accounts receivable 25 Inventory 26 Equity investment 27 28 29 PPE, net 30 31 Other assets 32 Patent 33 Goodwill 34 Total assets 35 Liabilities and stockholders' equity 36 Accounts payable 37 Accrued liabilities 38 Notes payable 39 Common stock 40 EOY Retained earnings 41 Total liabilities and equity 42 43 Consolidation Entries Parent 900,000 (495,000) 405,000 (27,000) (270,000) (13,500) (310,500) 31,500 126,000 495,000 126,000 (103,500) 517,500 81,000 108,000 252,000 576,000 306,000 117,000 225,000 22,500 135,000 540,000 517,500 Subsidiary 414,000 (252,000) 162,000 (18,000) (72,000) (4,500) (94,500) 67,500 225,000 67,500 (31,500) 261,000 54,000 81,000 126,000 216,000 198,000 675,000 1 48,600 41, 54,000 270,000 261,000 675,000 Cr Consolidated (747,000) 567,000 (45,000) (342,000) (18,000) (405,000) 31,500 193,500 720,000 193,500 (135,000) 778,500 135,000 189,000 378,000 576,000 522,000 315,000 273,600 63,900 189,000 810,000 778,500
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