Pare Corporation acquired 80 percent ownership of Sunny Corporation on January 1, 2013, for $120.000. The fair value of the noncontrolling interest was $30.000. At the date. Sunny reported common stock outstanding of $100.000 and retained earnings of $25.000. The differential assigned to equipment had a fair value of $20,000 greater than book value and a remaining economic life of ten years at the date of the business combination Goodwil, if any, has not suffered any impairment Sunny reported net income of $10,000 and paid dividends of $2.000 in 2013. Which of the following would be one of the eliminating entries needed at December 31, 2013. to prepare consolidated financial statements. DETS. Common Stock Sunitar 100.000 Retired Earnings Sobudka 33.000, come from subsidiary 8.000, NC in 12.000 and CREDITS Dividends Declared Say 2.000, vestment in Sody 100.000. NCHINA 20.000 bois. Common Stock Sunday 100.000, Retained Earrings Subway 25.000, income from Subiday 10.000 and CREDITS: Dividende Declared Subsidiary 2.000. Sudiary 105 400 NCINI 26.600 None of the answers are correct DEOITS. Common Stock Stary 100.000. Red Earrings-Subsidiary 25.000, income from Subsidiary 2000, NC in NI 8.000 and CREDITS: Dividends Dudared Subulary 2.000, wetent ins Scisidiary 106.400, NCI INI 26.600 Pare Corporation acquired 80 percent ownership of Sunny Corporation on January 1, 2013, for $120.000. The fair value of the noncontrolling interest was $30.000. At the date. Sunny reported common stock outstanding of $100.000 and retained earnings of $25.000. The differential assigned to equipment had a fair value of $20,000 greater than book value and a remaining economic life of ten years at the date of the business combination Goodwil, if any, has not suffered any impairment Sunny reported net income of $10,000 and paid dividends of $2.000 in 2013. Which of the following would be one of the eliminating entries needed at December 31, 2013. to prepare consolidated financial statements. DETS. Common Stock Sunitar 100.000 Retired Earnings Sobudka 33.000, come from subsidiary 8.000, NC in 12.000 and CREDITS Dividends Declared Say 2.000, vestment in Sody 100.000. NCHINA 20.000 bois. Common Stock Sunday 100.000, Retained Earrings Subway 25.000, income from Subiday 10.000 and CREDITS: Dividende Declared Subsidiary 2.000. Sudiary 105 400 NCINI 26.600 None of the answers are correct DEOITS. Common Stock Stary 100.000. Red Earrings-Subsidiary 25.000, income from Subsidiary 2000, NC in NI 8.000 and CREDITS: Dividends Dudared Subulary 2.000, wetent ins Scisidiary 106.400, NCI INI 26.600
