ACC 405 - Final Project One Workbook.xlsx - Southern New Hampshire University ACC 405 Advanced Accounting MILESTONE ONE(Due in Module Four FINAL PROJECT

ACC 405 - Final Project One Workbook.xlsx - Southern New...

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Southern New Hampshire University ACC 405: Advanced Accounting Make corrections to Milestone One 1 Prepare memo Calculate investment balance Calculate noncontrolling interest 2 Create consolidation entries 3 Prepare consolidation worksheet MILESTONE ONE (Due in Module Four) FINAL PROJECT ONE (Due in Module Six) Calculate goodwill Calculate income assigned to the noncontrolling interest Calculate the gain or loss on retirement of bonds Consolidating Entries Instructions Milestone One Supporting Calculations Consolidation Worksheet
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Southern New Hampshire University ACC 405 Advanced Accounting IMPORTANT NOTE: You might want to print out the financial information Show your work Use the data from this milestone and begin working on your final project due in Module Six ITEMS TO COMPLETE FOR THIS MILESTONE: GENERAL SUPPORTING COMPUTATIONS a. Compute the amount of the goodwill as of January 1, 20X7. INSTRUCTIONS FOR MILESTONE ONE (Due in Module Four) Make sure to completely review the rubric for Milestone One You are the accountant for Posey Company. Prepare computations, consolidation entries, and consolidation entries for the preparation of consolidated financial statements for 20X7. Show your calculations. b. Compute the balance of Posey’s Investment in Stargell Stock account as of January 1, 20X7. (Do not round your intermediate calculations. Round your final answer to nearest whole dollar.) c. Compute the income that should be assigned to the noncontrolling interest in the 20X7 consolidated income statement. (Do not round your intermediate calculations. Round your final answer to nearest whole dollar.) d. Compute the total noncontrolling interest as of December 31, 20X6. (Do not round your intermediate calculations. Round your final answer to nearest whole dollar.) e. Compute the gain or loss on the constructive retirement of Stargell’s bonds that should appear in the 20X7 consolidated income statement. (Do not round your intermediate calculations. Round your final answer to nearest whole dollar.) HOME
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FINANCIAL INFORMATION FOR THIS MILESTONE Refer to Trial Balance 2017 information (red tab) f. Present all consolidation entries that would appear in a three-part consolidation worksheet as of December 31, 20X7. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round your intermediate calculations. Round your final answers to nearest whole dollar.) g. Prepare and complete a three-part worksheet for the preparation of consolidated financial statements for 20X7.
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  • Winter '16
  • Balance Sheet, Generally Accepted Accounting Principles, Stargell, Stargell Stock

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