{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Chap006_Classproblems_Day1&2_Solu

Chap006_Classproblems_Day1&2_Solu - 6,000...

Info icon This preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Solutions to Chapter 6 In‐class Problems - 1 - E6-3 Elimination Entries for Land Transfer a. Eliminating entry, December 31, 20X4: E(1) Gain on Sale of Land 10,000 Land 10,000 Eliminating entry, December 31, 20X5: E(1) Retained Earnings, January 1 10,000 Land 10,000 b. Eliminating entry, December 31, 20X4: E(1) Gain on Sale of Land 10,000 Land 10,000 E(2) Noncontrolling Interest 4,000 Income to Noncontrolling Interest 4,000 Eliminating entry, December 31, 20X5: E(1) Retained Earnings, January 1
Image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 6,000 Noncontrolling Interest 4,000 Land 10,000 E6-7 Transfer of Land a. Eliminating entry, December 31, 20X2: E(1) Gain on Sale of Land 45,000 Land 45,000 E(2) Noncontrolling Interest 13,500 Income to Noncontrolling Interest 13,500 Eliminating entry, December 31, 20X3: E(1) Retained Earnings, January 1 31,500 Noncontrolling Interest 13,500 Land 45,000 b. Eliminating entries, December 31, 20X3 and 20X4: E(1) Retained Earnings, January 1 30,000 Land 30,000...
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