Question
please kindly help ne with this need to submit it thank you and Investor Company owns 80% of Investee Company's for 58,000. The following are
Investor Company owns 80% of Investee Company's for 58,000. The following are the balance sheets of Investor Company and Investee Company. The investment in Investee Company in the unconsolidated balance sheet of Investor Company is accounted using the equity method.
| Investor Company | Investee Company | Adjustment | Consolidated Company |
Current Assets | $41,000 | $33,000 |
|
|
Investment | 58,000 |
|
|
|
Other Assets | 144,000 | 54,000 |
|
|
Goodwill |
|
|
|
|
Total Assets | $243,000 | $87,000 |
|
|
|
|
|
|
|
Liabilities | $95,000 | $27,000 |
|
|
Common Stock | 70,000 | 32,000 |
|
|
Retained Earnings | 78,000 | 28,000 |
|
|
Non-controlling interest |
|
|
|
|
Total Liabilities and Equity | $243,000 | $87,000 |
|
|
Required:
Prepare the consolidated balance sheet for Investor Company by completing the following table.
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