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Power Products Corporation, which sells a broad line of home detergent producte, owne 7 5 percent of the stock of Scrub Soap Company. During 2
Power Products Corporation, which sells a broad line of home detergent producte, owne percent of the stock of Scrub Soap Company. During X Scrub sold soap products to Power Products for $ which it had produced for $ Power Products sold $ of its purchase from Scrub in and the remainder in X In addition. Power Producte purchased $ of Inventory from Scrub in and resold $ of the liems before yearend. Scrub's cost to produce the luems sold to Power Products in was $ Required: a Prepare the workcheet consolidation entries needed for December to remove the effects of the intercompany inventory transfers in and Note: If no entry is required for a transactionevent select No journal entry required" in the first accourt field. Compute the amount of income ossigned to noncontroing shsieno de is in the snd consolidsted income stotements if Scrub reported net income of $ for and $ for tableIncoma asagned to roncontroling inters,
Power Products Corporation, which sells a broad line of home detergent producte, owne percent of the stock of Scrub Soap Company. During X Scrub sold soap products to Power Products for $ which it had produced for $ Power Products sold $ of its purchase from Scrub in and the remainder in X In addition. Power Producte purchased $ of Inventory from Scrub in and resold $ of the liems before yearend. Scrub's cost to produce the luems sold to Power Products in was $
Required:
a Prepare the workcheet consolidation entries needed for December to remove the effects of the intercompany inventory transfers in and
Note: If no entry is required for a transactionevent select No journal entry required" in the first accourt field.
Compute the amount of income ossigned to noncontroing shsieno de is in the snd consolidsted income stotements if Scrub reported net income of $ for and $ for
tableIncoma asagned to roncontroling inters,
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