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please show how your getting the nci and pole co im not sure how there getting 90,000 and 210,000 or nothing from part b please
please show how your getting the nci and pole co
Stake issues 4,000 additional shares of its $10 par value stock to its shareholders as is stock dividend on April 20,203. The market price of Stake's shares at the lime of the stock dividend is $40. Stake reports net incorne of $25,000 and pays a $10,000 cash dividend in 203. Pole Company acquired 70 percent of Stake's common shares at book value on January 1, 20X1. At that date, the fair value of the noncontrolling interest was equat to 30 percent of Stake's book value. Pole uses the equity method in accounting for its investment in Stake. Required: a. Prepare the joumal entries recorded by Stake and Pole at the time the stock dividend is declared and distributed. b. Prepare the worksheet consolidation entries needed to prepare consolidated financial staternents for 203. c. Prepare the worksheet consolidation entry needed to prepare a consolidated balance sheet on January 1,204 Pole Company: No entry required. b. Racie Consolidation Entrv: c. Rasic Consolidation Entry: Stake issues 4,000 additional shares of its $10 par value stock to its shareholders as is stock dividend on April 20,203. The market price of Stake's shares at the lime of the stock dividend is $40. Stake reports net incorne of $25,000 and pays a $10,000 cash dividend in 203. Pole Company acquired 70 percent of Stake's common shares at book value on January 1, 20X1. At that date, the fair value of the noncontrolling interest was equat to 30 percent of Stake's book value. Pole uses the equity method in accounting for its investment in Stake. Required: a. Prepare the joumal entries recorded by Stake and Pole at the time the stock dividend is declared and distributed. b. Prepare the worksheet consolidation entries needed to prepare consolidated financial staternents for 203. c. Prepare the worksheet consolidation entry needed to prepare a consolidated balance sheet on January 1,204 Pole Company: No entry required. b. Racie Consolidation Entrv: c. Rasic Consolidation Entry im not sure how there getting 90,000 and 210,000 or nothing from part b please help
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