Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Plexi Company purchased 85% of the outstanding common stock of Sesnor Company on January 1, 2009 for $5,700,000. Please answer it the questions completly! thumbs

Plexi Company purchased 85% of the outstanding common stock of Sesnor Company on January 1, 2009 for $5,700,000. image text in transcribed

image text in transcribedimage text in transcribedPlease answer it the questions completly! thumbs up for the first correct answer.

Complete the entry to allocate the difference below Workpaper Ent (3) Plexi Co. and Subsidiary consolidated Statements workpaper For the Year Ended December 31, 2012 Workpaper Elimination Entries subsidiary Parent Consolidated Plexico. se snor Co. petit credit Balance sales S 9.500.000 s 5,500,000 S15.000,000 s 212,500 ru) Dividend Income S 212.500 Total Revenue S 9712.500 S 5,500,000 $15,000,000 Is 750.000 S 850,000 Rs Inventory 1/1 1,600,000 Purchases s E100.000 s 4100,000 $12,200,000 $13,800,000 Available for Sale 8,850,000 4,950,000 Inventory 12/31 875,000 S 1825.000 950,000 KS 7975,000 S 4000,000 Cost of Goods Sold S11,975,000 selling Expense S 425.000 s 290,000 Rs 715.000 s Other Expenses 580,000 S 275,000 Total Expenses LS B 930.000 S 4.565.000 Net/Consolidated Income 1.455.000 s 140.250 s 140,250 Noncontrolling Interest In Consolidated Inc. Net Income to Retained Earnings 140.250 1.314750 935,000 Demonstrate (below) how is the $140,250 in the NCI column calculated

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

A Guide To Local Environmental Auditing

Authors: Hugh Barton; Noel Bruder

1st Edition

1853832340, 9781853832345

More Books

Students also viewed these Accounting questions

Question

5. Understand how cultural values influence conflict behavior.

Answered: 1 week ago