3-18 - E3-18 Subsidiary Acquired at Net Book Value Actual...

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Unformatted text preview: E3-18 Subsidiary Acquired at Net Book Value Actual Entries: Investment in Dwyer Cash 170,000 170,000 Elimination Entries Common Stock Retained Earnings Investment In Dwyer Working paper: 90,000 80,000 170,000 Cash Acct Receivable Inventory Fixed Assets Inv in Dwyer Total Debits Accts Payable Notes Payable Common Stock Retained Earnings Total Credits Banner 40,000 120,000 180,000 350,000 170,000 860,000 65,000 350,000 150,000 295,000 860,000 Dwyer 20,000 70,000 90,000 240,000 420,000 30,000 220,000 90,000 80,000 420,000 Dr Cr Consol 60,000 190,000 270,000 590,000 170,000 90,000 80,000 0 1,110,000 95,000 570,000 150,000 295,000 1,110,000 Banner Corporation and Subsidiary Consolidated Balance Sheet December 31, 20X8 Cash ($40,000 + $20,000) Accounts Receivable ($120,000 + $70,000) Inventory ($180,000 + $90,000) Fixed Assets (net) ($350,000 + $240,000) Total Assets Accounts Payable ($65,000 + $30,000) Notes Payable ($350,000 + $220,000) Common Stock $ 60,000 190,000 270,000 590,000 $1,110,000 $ 95,000 570,000 150,000 Retained Earnings Total Liabilities and Stockholders' Equity 295,000 $1,110,000 ...
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3-18 - E3-18 Subsidiary Acquired at Net Book Value Actual...

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