MIdterm - Common Stock $(510,000.00 $(180,000.00 S Retained...

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Adam's Corp. and Barstow Inc. Consolidation Worksheet Jessica Summers, Cameron Boyd, Victoria Bracey Account Adam's Corp. Barstow Inc. Revenues $(940,000.00) $(280,000.00) Cost of goods sold $480,000.00 $90,000.00 Depreciation expense $100,000.00 $55,000.00 E Amorization expense $- E Interest expense $40,000.00 $15,000.00 E Equity in income of Barstow Inc. $(108,000.00) $- I Net Income Separate $(428,000.00) $(120,000.00) Noncontrolling Interest Income Controlling Interest Income Retained Earnings 1/1/11 $(1,367,000.00) $(340,000.00) S *C Net Income (above) $(428,000.00) $(120,000.00) Dividends paid $110,000.00 $70,000.00 Retained earnings 12/31/11 $(1,685,000.00) $(390,000.00) Current Assets $610,000.00 $250,000.00 Investment in Small $702,000.00 $- D Land $380,000.00 $150,000.00 A Buildings (net) $490,000.00 $250,000.00 E Equipment (net) $873,000.00 $150,000.00 A Patents $- $- A Goodwill $- $- A Total Assets $3,055,000.00 $800,000.00 Notes Payable $(860,000.00) $(230,000.00) A
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Unformatted text preview: Common Stock $(510,000.00) $(180,000.00) S Retained Earnings (above) $(1,685,000.00) $(390,000.00) Noncontrolling Interest Total Liab. and equity $(3,055,000.00) $(800,000.00) Debit Credit Noncontrolling Interest Consolidated Totals $(1,220,000.00) $570,000.00 $8,000.00 E $2,000.00 $161,000.00 $5,000.00 $5,000.00 $4,000.00 $59,000.00 $108,000.00 $- $(425,000.00) $(10,500.00) $10,500.00 $(414,500.00) $340,000.00 $(1,353,500.00) $13,500.00 $(414,500.00) D $63,000.00 $7,000.00 $110,000.00 $(1,658,000.00) $860,000.00 $63,000.00 S $468,000.00 $- A $175,500.00 I $108,000.00 *C $13,500.00 $30,000.00 $560,000.00 $2,000.00 A $18,000.00 $724,000.00 $32,000.00 E $8,000.00 $1,047,000.00 $45,000.00 E $5,000.00 $40,000.00 $90,000.00 $90,000.00 $3,321,000.00 $16,000.00 E $4,000.00 $(1,078,000.00) $180,000.00 $(510,000.00) $(1,658,000.00) S $52,000.00 A $19,500.00 $(71,500.00) $(75,000.00) $(75,000.00) $(3,321,000.00)...
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This note was uploaded on 04/05/2010 for the course ACCY 260 taught by Professor Yu during the Spring '10 term at Ferrum.

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MIdterm - Common Stock $(510,000.00 $(180,000.00 S Retained...

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