Copy of C3-100 - X1 solution - Copy of C3-100 Accounting...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Copy of C3-100.xlsx Accounting 4240/6024 Equity method Consolidations worksheet for 20X0 Consolidation Entries Parent Subsidiary Debit Credit Consolidated Sales Income from Subsidiary Expenses Depreciation expense Net income Beginning retained earnings (83,000) (160,000) 160,000 (83,000) Net income - Dividends declared - Ending retained earnings (83,000) (160,000) (83,000) Cash 105,600 60,000 165,600 Other assets 774,400 441,000 1,215,400 Equipment 1,183,900 674,000 151,000 2,008,900 Accumulated depreciation (355,200) (229,000) (584,200) Investment in Subsidiary 744,600 - 523,000 - 221,600 Goodwill - - 70,600 70,600 Total 2,453,300 946,000 2,876,300 Accounts payable (581,200) (68,000) (649,200) Other liabilities (623,400) (355,000) (978,400) Common stock ($1 par value) (128,300) (73,000) 73,000 (128,300) Additional paid-in capital (1,037,400) (290,000) 290,000 (1,037,400) Retained earnings (83,000) (160,000) (83,000) Total (2,453,300) (946,000) 744,600 744,600 (2,876,300) Consolidation entries for 20X0 S Common Stock 73,000 Additional Paid-in Capital 290,000 Retained Earnings 160,000 Investment in Subsidiary 523,000 A Equipment 151,000 Goodwill 70,600 Investment in Subsidiary 221,600 Page 3 Solutions
Image of page 1

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

View Full Document Right Arrow Icon
Copy of C3-100.xlsx Accounting 4240/6024 Equity method Consolidation entries for 20X1 S Common Stock 73,000 Additional Paid-in Capital 290,000 Retained Earnings 160,000 Investment in Subsidiary 523,000 A Equipment 151,000 Goodwill 70,600
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the 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