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Pitino acquired 9 0 percent of Brey's outstanding shares on January 1 , 2 0 1 9 , in exchange for $ 4 2 3
Pitino acquired percent of Brey's outstanding shares on January in exchange for $ in cash. The subsidis Req A to D Req a What was the annual amortization resulting from the acquisitiondate fairvalue allocations? b Were the intraentity transfers upstream or downstream? c What intraentity gross profit in inventory existed as of January d What intraentity gross profit in inventory existed as of December Show less tableaAnnual amortization,bIntraentity transfers,cIntraentity gross profit, January d Intraentity gross profit, December Req A to D Req Req What amounts make up the $ Equity Earnings of Brey account balance for table Req A to D Req Req F Req G Req Req I What amounts make up the $ Investment in Brey account balance as of December Prepare the worksheet entry to eliminate the subsidiary's beginning owners' equity balances. If no entry is required for a transactionevent select No journal entry required" in the first account field. Consolidation Worksheet Entries Note: Enter debits before credits. stockholders' equity accounts totaled $ and the noncontrolling interest had a fair value of $ on that day. Ha building with a tenyear remaining life in Brey's accounting records was undervalued by $ Pitino assigned the rest excess fair value over book value to Brey's patented technology fouryear remaining life Brey reported net income from its own operations of $ in and $ in Brey declared dividends of $ and $ in Brey sells inventory to Pitino as follows: At December Pitino owes Brey $ for inventory acquired during the period. The following separate account balances are for these two companies for December and the year then ended. Note: Parentheses indicate a credit balance. a What was the annual amortization resulting from the acquisitiondate fairvalue allocations? b Were the intraentity transfers upstream or downstream? c What intraentity gross profit in inventory existed as of January d What intraentity gross profit in inventory existed as of December e What amounts make up the $ Equity Earnings of Brey account balance for f What is the net income attributable to the noncontrolling interest for g What amounts make up the $ Investment in Brey account balance as of December h Prepare the worksheet entry to eliminate the subsidiary's beginning owners' equity balances. Without preparing a worksheet or consolidation entries, determine the consolidation balances for these two companies Complete this question by entering your answers in the tabs below. Req A to D a What was the annual amortization resulting from the acquisitiondate fairvalue allocations? b Were the intraentity transfers upstream or downstream? c What intraentity gross profit in inventory existed as of January d What intraentity gross profit in inventory existed as of December
Pitino acquired percent of Brey's outstanding shares on January in exchange for $ in cash. The subsidis Req A to D
Req
a What was the annual amortization resulting from the acquisitiondate fairvalue allocations?
b Were the intraentity transfers upstream or downstream?
c What intraentity gross profit in inventory existed as of January
d What intraentity gross profit in inventory existed as of December
Show less
tableaAnnual amortization,bIntraentity transfers,cIntraentity gross profit, January
d Intraentity gross profit, December Req A to D
Req
Req
What amounts make up the $ Equity Earnings of Brey account balance for
table Req A to D
Req
Req F
Req G
Req
Req I
What amounts make up the $ Investment in Brey account balance as of December
Prepare the worksheet entry to eliminate the subsidiary's beginning owners' equity balances. If no entry is required for a
transactionevent select No journal entry required" in the first account field.
Consolidation
Worksheet Entries
Note: Enter debits before credits.
stockholders' equity accounts totaled $ and the noncontrolling interest had a fair value of $ on that day. Ha
building with a tenyear remaining life in Brey's accounting records was undervalued by $ Pitino assigned the rest
excess fair value over book value to Brey's patented technology fouryear remaining life
Brey reported net income from its own operations of $ in and $ in Brey declared dividends of $
and $ in
Brey sells inventory to Pitino as follows:
At December Pitino owes Brey $ for inventory acquired during the period.
The following separate account balances are for these two companies for December and the year then ended.
Note: Parentheses indicate a credit balance.
a What was the annual amortization resulting from the acquisitiondate fairvalue allocations?
b Were the intraentity transfers upstream or downstream?
c What intraentity gross profit in inventory existed as of January
d What intraentity gross profit in inventory existed as of December
e What amounts make up the $ Equity Earnings of Brey account balance for
f What is the net income attributable to the noncontrolling interest for
g What amounts make up the $ Investment in Brey account balance as of December
h Prepare the worksheet entry to eliminate the subsidiary's beginning owners' equity balances.
Without preparing a worksheet or consolidation entries, determine the consolidation balances for these two companies
Complete this question by entering your answers in the tabs below.
Req A to D
a What was the annual amortization resulting from the acquisitiondate fairvalue allocations?
b Were the intraentity transfers upstream or downstream?
c What intraentity gross profit in inventory existed as of January
d What intraentity gross profit in inventory existed as of December
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