Provide answer in excel tables. please show calculation.

Example 1: Upstream Inventory Transfer with Noncontrolling Interest

Parent acquires 70% interest in subsidiary on January 1, 2010

In 2014, subsidiary sells inventory costing $80,000 to parent for $120,000. 20% of this inventory was not sold to outsiders by the parent until 2015 (meaning that 80% of the transferred inventory was sold in ______(year).

In 2015, subsidiary sells inventory costing $100,000 to parent for $150,000. 40% of this inventory was not sold to outsiders until 2016.

In 2015, parent reported cost of goods sold of $500,000 and subsidiary reported cost of goods sold of $ $300,000. Also, the parent net income in 2015 is $50,000.

What is consolidated cost of goods sold in 2015?

What is noncontrolling interest in net income of subsidiary

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Example2: Intercompany Depreciable Asset transfer

Parent buys building on January 1, 2010 for $500,000. Useful life is 10 years. On January 1, 2015 parent sells building to 100% owned subsidiary for $400,000. Subsidiary determines remaining useful life is 5 years.

Prepare consolidation entries for December 31, 2015

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Example3: Intercompany transfer of Land:

Parent purchases land on January 1, 2012 for $500,000.

On January 1, 2013 parent sells land to it 100% owned subsidiary for $700,000.

Subsidiary holds land for 3 years and then on December 31, 2015 sells to unrelated third party for $800,000.

Show entries for the parent, the subsidiary, and consolidated entries for 2012, 2013, 2014, and 2015.

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Example4: Sales and Purchases Accounts (100% of Inventory Remains).

1.Arlington Company sales inventory costing $50,000 for $80,000 to Zirkin Company, an affiliated party within the business combination.

Only a Portion of Inventory Remains

2.Arlington transferred inventory costing $50,000 to Zirkin, a related company, for $80,000. At year-end Zirkin has resold $60,000 of these goods to unrelated parties.

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answers as per a previous post, kindly make prettier and understandable for readers. please show calculation.

answer - example 1

total coso of goods sold in 2015 is 792000

500000+300000-8000 (24000-16000)

20 % of 120000 is 24000 and actual cost for subsidiary is 20 % of 80000 i.e 16000

since parent acquired only 70 % non controling interest is 30 %

Eaxmple 2-

in the books of parent company

accumulated depreciation account dr 250000

subsidiary account dr. 400000

to building 500000

to profit 150000

In the books of subsidiary

Building account dr 400000

To holding company 400000

At the time of consolidation no treat ment of profit of 150000 and building will be shown 250000

subsidiary will charge depreciation rs. 80000 but in consolidation ignore 30000 and enter only 50000

Example -3 - Parent - land accont Dr 500000

to bank 500000

subsidiary 700000

to land 500000

to profit 200000

In subsidiary books

land 700000

to holding company 700000

party account 800000

to land 700000

to profit 100000

at the time of consolidation 200000 profit will be ignored , land shown as 500000 at the time of sale to third party

prifit will be booked rs. 300000 ( 800000-500000)

Example 4 - since affiliiated company ignore profit of 30000 since 100 % inventory remains 50000 is inventory value in balance sheet.

profit portion of inventory unsold must not considered in consolidation