Skip to content
FeatherEssaysFeatherEssays
FeatherEssays
Expert Essay and Academic Writing Services
1-343-433-433-444support@featheressays.com

our-guarantee

  • HOME
  • ABOUT US
  • OUR SERVICES
  • HOW IT WORKS
  • FAQ
  • TESTIMONIALS
  • ORDER A CUSTOM PAPER NOW
  • CONTACT US
  • HOME
  • ABOUT US
  • OUR SERVICES
  • HOW IT WORKS
  • FAQ
  • TESTIMONIALS
  • ORDER A CUSTOM PAPER NOW
  • CONTACT US
July 21, 2017UncategorizedBy classhelp24@gmail.com [email if you need fresh paper done]

I need this sheet completed, I dont balance in the end for some reason?

Acquisition details:
The parent acquired 75% of the sub in 2012.
the only differential is due to goodwill. The good will attributable to the parent is $150.
Pricing to the NCI is proportional.
The goodwill has not impaired since acquisition date.
ADDITIONAL INFORMATION
Intercompany merchandise sales totalled $300,000 during 2015. All intercompany balances have been
paid except for $50,000 in transit at December 31, 2015.
Unrealized profits in S?s inventory of merchandise purchased from P were $48,000 on December
31, 2014, and $60,000 on December 31, 2015.
S sold equipment with a six-year remaining life to P on January 3, 2013, at a gain of $96,000. P
still uses the equipment in its operations.
P sold land to S on July 1, 2015, at a gain of $40,000. S still holds the land at December 31, 2015.
P sold a building to S on July 1, 2015, at a gain of $80,000. The building has a 10-year remaining
life and is still used by Sum.
round above amounts to thousands.
REQUIRED:
Required: Carefully Follow and label each step. Show all work below on the spreadsheet tab.
1.Calculate the full amount of goodwill. Identify amounts attributable to the parent and
the NCI
2. Analyze each intercompany transaction. Label as either upstream
downstream.
3. Calculate Net income to the controlling interest for the year 2015

4. Verify the calculation of the balance in the acccount equity in sub
earnings and record the parent company entries with respect to its investment during 2015
5. Prepare all elimination entries for 2015.
6. Complete the consolidating spreadsheet for the year ended 2015.
7. Answer questions on the blue tab

the parent uses the equity method

INCOME STATEMENT
FYE 12/31/2015
Sales
Equity in sub earnings
Gain on building
Gain on land
Total revenues

P

S

ELIMINATIONS
DR
CR

CONS.TOT.

2,520
184
80
40
2,824

2,000

1,400
304
80
184
1,968
856

1,200
160

856

400

2,600
464
80
424
3,568
1,256
0
1,256

Retained Earnings 1/1

750

400

1,150

Net income

856

400

1,256

Dividends declared

640

320

960

Retained Earnings 12/31

966

480

1,446

108

276
20
120
200

384
20
280
520
0
640
1,320
920
1,498
424
0
0
6,006

Cost of goods sold
Depreciation Expense
Interest Expense
Other expenses and losses
Total expenses
Total Net income
Less net income to NCI
Net income to controlling interest

4,520
184
80
40
4,824

2,000

240
1,600
400

RETAINED EARNINGS
STATEMENT

BALANCE SHEET
cash
Bond interest receivable
Other receivables-net
Inventory

160
320

Land
Buildings, net
Equipment, net
Investment in S
Available for sale securities
goodwill

360
600
560
1,498

Total assets

3,606

2,400

Accounts payable
Bond interest payable
10% bonds payable
Common stock

200
40
800
1,600

320

1,600

966

480

3,606
0

2,400
0

Retained earnings
noncontrolling interest
Total liabilities and equity

dr common stk
dr RE
dr Goodwill
cr equipement, net
cr cogs
cr depr exp
cr Investment in sub
cr NCI

424

1,600
400
200
48
48
16
1554
534
2,200

dr equity in sub earnings
cr dividends dec
dr investment in s
dr net income to nci
cr dividends declared
cr nci
dr sales
cr cogs
dr payables
cr receivables

280
720
360

2,200

184
240
56
#REF!
80
#REF!
300
300
50
50

0

0

520
40
800
3,200
0
1,446
0
6,006
0

dr cogs
cr inventory

#REF!
#REF!

dr gain on land sale
cr land

40

dr gain on building sale
cr building, net
cr depreciation expense

80

40

76
4

#REF! #REF!

DO NOT CHANGE ANY FORMATTING ON THIS WORKSHEET
Use cell references from Spreadsheet tab to answer questions.
1. What is the Parent Company ONLY Confirmed net income?
2. What is the sub's Confirmed net income?
3. What is the net income to the NCI (enter as a positive amount)?
4. What are consolidated sales?
5. What are consolidated cost of goods sold?
6. What is consolidated depreciation expense?
7. What are consolidated total assets?
8. What is consolidated inventory?
9. What is consolidated equipment,net?
10. What is consolidated building, net?
11. What are consolidated other receivables?
12. What is consolidated goodwill?
13. What is consolidated accounts payable?
14. What is the balance for NCI as of 12/31/2015?
15. What is consolidated retained earnings as of 12/31/2015?

enter answers in shaded boxes

Prepare the consolidated balance sheet with supporting elimination entries
Partial credit up to an additional 10 points.

Request A Fresh Paper Done For You!You are guaranteed plagiarism free paper within 3-8 hrs
About the author

classhelp24@gmail.com [email if you need fresh paper done]

What are you looking for?
Visit
  • HOME
  • ABOUT US
  • OUR SERVICES
  • HOW IT WORKS
  • FAQ
  • TESTIMONIALS
  • ORDER A CUSTOM PAPER NOW
  • CONTACT US
Happy Client Quotes
  • When I made the decision to seek help from you guys, I didn’t know I was making a choice that would positively change my life forever. I am so much more confident with my ability to go to work and still be able to finish my research paper on time. The research you guys did for me was great and I was highly awarded for it. I mean, all along I was having difficulty managing my time. It was so hard to decide what I ought to give priority, work or research? Thanks to you guys I can now go to work without worrying too much about how great my research should be. I am still the same person, just to be sure, but with lot of skills and ability, courtesy of feather essay. I wish you guys were around 30 years ago when I started doing research while still in school. Great research paper, thanks feather essays.

    Scott Williams, Chicago
  • Feather essays is awesome, really. I can’t just say enough about how well their services are custom-made to meet students’ needs. I mean have been using other services from different websites with erratic degree of satisfaction, but this is way too perfect. I’m thankful their team understand all about essays requirement. I had an essay assignment due in two days so I had to seek for their help, at first I thought they wouldn’t be able to do it perfectly since it was the first time I was using their service. Well, I guess I was wrong. Another thing I also liked about feather essays is how they communicate with clients, so simple, they made me feel at ease even though I was under pressure. From my standpoint, their platform is very intuitive, and it’s pretty much dummy-proof. Thanks to you guys I passed, it’s really hard to recommend anything but feather essays for quality service.

    Joseph Levoh, Phoenix University
  • I mostly do silly mistakes in term papers and essays, and while going through the instructions I used to get stuck after a few steps. I must say I always get annoyed whenever this happened and I had started doubting if I will make it through college. I had lost confidence in myself, I felt uncomfortable and unmotivated in doing assignments. One day I was just going through the internet looking for help with my essay, I found out about feather essay. I was not really sure if they could help me, but considering my situation I decided to give it a try. To say the least, I’ve never regretted making the decision. They are amazing, they offer instant help on assignment and term papers, and whenever I come across any assignment with doubts, all I do is talk to them. They instantly help me with my essays and explain to me everything about it. Thanks to you guys, you help me save a lot of time and concentrate on other class work.

    Eleona Miller, New York City
  • I’d never sought out for help with my essays before, so I was a bit uncertain how to go about it. All this doubts disappeared as soon as I talked to feather essays. You guys took your time to comprehend what my short term and long term needs were, and perfectly lined up different options for me. Considering the fact that I needed a quick response and solution, the options you guys offered were so organized. I thought the steps involved could take up several weeks or days, but I was surprised when all it took was less than four hours. I guess as soon as the agreement was made, the worked started immediately. The way you delivered that essay showed me how top class service professional you guys are. For quick essays help, I recommend you guys. The best thing is that you understand when a client needs more time to think. Thanks to you guys.

    Laurette, Ohio
  • Quick Essay Help

    I’d never sought out for help with my essays before, so I was a bit uncertain how to go about it. All this doubts disappeared as soon as I talked to feather essays. You guys took your time to comprehend what my short term and long term needs were, and perfectly lined up different options for me. Considering the fact that I needed a quick response and solution, the options you guys offered were so organized. I thought the steps involved could take up several weeks or days, but I was surprised when all it took was less than four hours. I guess as soon as the agreement was made, the worked started immediately. The way you delivered that essay showed me how top class service professional you guys are. For quick essays help, I recommend you guys. The best thing is that you understand when a client needs more time to think. Thanks to you guys.

    Diana Ross, California
  • Unique service and quality work!!!Feather essays not only offer wonderful essays but also helped me pass with flying colors!! I could not also believe it. And what makes me love them more is how work is done instantly after ordering!!i will never worry about school essays anymore. Absolutely the best!

    Sasha Kelly, Cleveland
Recent Posts
  • Week 7 – Assignment: Integrate Waste Elimination Techniques into Training Development (10 Points)
    June 5, 2019
  • (Let professional handle your assignment. Get an A) Cloud Architectures Application
    June 25, 2018
  • (Let professional handle your assignment. Get an A) Cloud Architectures Application
    June 25, 2018
  • (Let professional handle your assignment. Get an A) Cloud Architectures Application
    June 25, 2018
  • (Let professional handle your assignment. Get an A) Cloud Architectures Application
    June 25, 2018
  • (Let professional handle your assignment. Get an A) Cloud Architectures Application
    June 25, 2018
  • HOME
  • ABOUT US
  • ORDER A CUSTOM PAPER NOW
  • FAQ
  • CONTACT US
  • TERMS & CONDITIONS
  • CHEAP AND AFFORDABLE PRICES
footer

Copyright © 2015 FeatherEssays