Stevens owns 60 of David In 2012, Stevens has net income of$80,000 and David has net income of $60,000 There is also $4,000 of annual excess amortization associated with Davids acquisition date equipment plus David had a $3,000 gain on an intercompany sale of land to Stevens Finally, Stevens had a $5,000 gain on an intercompany sale of land to David How much is the noncontrolling interest in subsidiary net income Davis owns 70 of Free In 2012, Davis reports sales of $200,000 which includes third party sales of $160,000 and intercompany sales of $40,000 Cost of goods sold for Davis are $80,000 Free reports sales of $150,000 of which $50,000 are intercompany How much are consolidated sales Gulko owns 60 of Larsen In 2012 Gulko reports Sales of $4,000,000, which includes 3 rd party sales of $3,500,000 and intercompany sales of $500,000 Larsen reports intercompany sales of $200,000 and total sales of $700,000 How much is Consolidated Sales Parent buys building (useful life 10 years) for $3,000,000 on January 1, 2012 On that same date, parent sells building to 80 owned subsidiary for $4,000,000 Subsidiary will use the same 10 year depreciable life How much depreciation expense will the subsidiary record in 2012 How much is consolidated depreciation expense in 2012 How much is the worksheet entry to eliminate excess depreciation in 2012 In 2012, parent reports Cost of Goods Sold of $4,000,000 Its 90 owned subsidiary reports Cost of Goods Sold of $1,000,000 in 2012 During 2011 the subsidiary had $60,000 of unrealized gains on intercompany sales to its parent In 2012, the subsidiary had sold $200,000 of goods to its parent and had $30,000 of unrealized gains How much is consolidated cost of goods sold in 2012 Same facts as problem 19 Assume in 2012 the subsidiary had net income of $150,000 What is the noncontrolling interest in subsidiary net income in 2012 Adams owns 80 of Williams and the carrying value of the investment on January 1, 2012 is $600,000 On that date Adams sells half of its shares for $250,000 What journal entry is recorded at that date Same facts as 21 except that Adams sells 20 of its investment for $150,000, reducing its ownership to 60 What journal entry is recorded by Williams at that date Harry purchases 80 of David by paying $50 a share for 40,000 of David The remaining 10,000 shares of David are held by minority shareholders and are worth $40 per share both before and after the acquisition Assume that 100 of the FVNAA of David at date of acquisition is $2,200,000 Calculate goodwill How much goodwill is allocated to the controlling interest and how much to the noncontrolling interest Felix pays $1,000,000 to acquire 80 of Unger Assume there is no control premium At acquisition date the FVNAA of Unger is $1,100,000 Calculate any goodwill or consolidated gain on bargain purchase that is to be recorded in consolidation

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Stevens owns 60% of David. In 2012, Stevens has net income of$80,000 and David has net income of $60,000. There is also $4,000 of annual

Stevens owns 60% of David. In 2012, Stevens has net income of$80,000 and David has net income of $60,000. There is also $4,000 of annual excess amortization associated with Davids acquisition date equipment plus David had a $3,000 gain on an intercompany sale of land to Stevens. Finally, Stevens had a $5,000 gain on an intercompany sale of land to David. How much is the noncontrolling interest in subsidiary net income.

Davis owns 70% of Free. In 2012, Davis reports sales of $200,000 which includes third party sales of $160,000 and intercompany sales of $40,000. Cost of goods sold for Davis are $80,000. Free reports sales of $150,000 of which $50,000 are intercompany. How much are consolidated sales.
Gulko owns 60% of Larsen. In 2012 Gulko reports Sales of $4,000,000, which includes 3^rdparty sales of $3,500,000 and intercompany sales of $500,000. Larsen reports intercompany sales of $200,000 and total sales of $700,000.How much is Consolidated Sales.
Parent buys building (useful life 10 years) for $3,000,000 on January 1, 2012.On that same date, parent sells building to 80% owned subsidiary for $4,000,000. Subsidiary will use the same 10 year depreciable life.
How much depreciation expense will the subsidiary record in 2012.
How much is consolidated depreciation expense in 2012.
How much is the worksheet entry to eliminate excess depreciation in 2012.

In 2012, parent reports Cost of Goods Sold of $4,000,000.Its 90% owned subsidiary reports Cost of Goods Sold of $1,000,000 in 2012.During 2011 the subsidiary had $60,000 of unrealized gains on intercompany sales to its parent. In 2012, the subsidiary had sold $200,000 of goods to its parent and had $30,000 of unrealized gains. How much is consolidated cost of goods sold in 2012.
Same facts as problem 19. Assume in 2012 the subsidiary had net income of $150,000.What is the noncontrolling interest in subsidiary net income in 2012.
Adams owns 80% of Williams and the carrying value of the investment on January 1, 2012 is $600,000. On that date Adams sells half of its shares for $250,000. What journal entry is recorded at that date.
Same facts as #21 except that Adams sells 20% of its investment for $150,000, reducing its ownership to 60%. What journal entry is recorded by Williams at that date.

Harry purchases 80% of David by paying $50 a share for 40,000 of David. The remaining 10,000 shares of David are held by minority shareholders and are worth $40 per share both before and after the acquisition. Assume that 100% of the FVNAA of David at date of acquisition is $2,200,000.
Calculate goodwill
How much goodwill is allocated to the controlling interest and how much to the noncontrolling interest

Felix pays $1,000,000 to acquire 80% of Unger.Assume there is no control premium. At acquisition date the FVNAA of Unger is $1,100,000. Calculate any goodwill or consolidated gain on bargain purchase that is to be recorded in consolidation