The trial balances of Parker and Sargent companies of Exercise 7 for December 31, 2016, are presented
Question:
The trial balances of Parker and Sargent companies of Exercise 7 for December 31, 2016, are presented as follows:
Parker Company continues to use the cost method.
1. Prepare all the eliminations and adjustments that would be made on the 2016 consolidated worksheet.
Transcribed Image Text:
Parker 102,000 400,000 Sargent 115,000 200,000 30,000 40,000) Current Assets Depreciable Fixed Assets Accumulated Depreciation Investment in Sargent Company Current Liabilities Common Stock ($10 par Retained Eamings, January 1,2016 Sales Expenses Dividend Income (from Sargent Company) Dividends Declared 300,000 (80,000 (300,000 100,000] (244,000) (170,000) (200,000 100,000] 85,000 160,000 (8,0001 10,000 Totals
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1 CV Investment in Sargent Company 16000 Retained EarningsParker 16000 Convert from cost to equi...View the full answer
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Related Book For
Advanced Accounting
ISBN: 978-1305084858
12th edition
Authors: Paul M. Fischer, William J. Tayler, Rita H. Cheng
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