ACCOUNTING
Partial Equity Method

Partial Equity Method - Partial Equity Method EXHIBIT 3.10...

Info icon This preview shows pages 1–2. Sign up to view the full content.

Partial Equity Method EXHIBIT 3.10.: Investment: Partial Equity Method PAROT COMPANY & SUN COMPANY Consolidated Worksheet For Year Ending December 31,2009 Accounts Paront Comp Sun Comp Consolidation Entries Consolidated Total Debit Credit Income Statement Revenues (1,500,000) (400,000) (1,900,000) COGS 700,000 250,000 950,000 Amort. Expe 120,000 20,000 (E) 13,000 153,000 Deprecia. Exp 80,000 30,000 (E) 6,000 104,000 Equity in sub Earning (100,000) -0- (I) 100,000 0 Net Income (700,000) (100,000) (693,000) Statement of REs Res, 1/109 (840,000) (380,000) (S) 380,000 (840,000) NI (above) (700,000) (100,000) (693,000) Dividend Paid 120,000 40,000 (D) 40,000 120,000 REs, 12/31/09 (1,420,000) (440,000) (1,413,000) Balance Sheet Current Asset
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 1,040,000 400,000 1,440,000 Inv. in subsid. Comp 860,000-0-(D)40,000 (S) 600,000-0-(A)200,000 (I)100,000 Trade marks 600,000 200,000 (A)20,000 820,000 Patented Technology 370,000 288,000 (A)130,000 (E) 13,000 775,000 Equipment (Net) 250,000 220,000 (E) 6,000 (A)30,000 446,000 Goodwill-0--0-(A)80,000 80,000 Total Assets 3,120,000 1,108,000 3,561,000 Liabilities (980,000) (448,000) (1,428,000) Common Stock (600,000) (200,000) (S)200,000 (600,000) Addi. PIC (120,000) (20,000) (S20,000) (120,000) REs , 12/31/09 (above) (1,420,000) (440,000) (1,413,000) Total Liab. & Equity (3,320,000) (1,108,000) (3,561,000)...
View Full Document

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern