P12-17 Advanced acct - Cash 7,600.00 Investment in Vikix...

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A. Vikix Inc. Trial Balance 38,717.00 Cash 150,000.00 0.21 31,500.00 Accounts Rec 200,000.00 0.21 42,000.00 Inventory 270,000.00 0.21 56,700.00 Prop, Plant Equip 600,000.00 0.21 126,000.00 COGS 410,000.00 0.20 82,000.00 Operating Ex 100,000.00 0.20 20,000.00 Dep Exp 50,000.00 0.20 10,000.00 Dividends paid 40,000.00 0.19 7,600.00 Total 1,820,000.00 1.63 375,800.00 Accum Dep 150,000.00 0.21 31,500.00 A/P 90,000.00 0.21 18,900.00 Notes Payable 190,000.00 0.21 39,900.00 Common Stock 450,000.00 0.18 81,000.00 R/E 250,000.00 0.18 45,000.00 Sales 690,000.00 0.20 138,000.00 Total 1,820,000.00 1.19 354,300.00 Transaltion Adjustment 21,500.00 B. Investment in Vikix 151,200.00 Cash 151,200.00
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Unformatted text preview: Cash 7,600.00 Investment in Vikix 7,600.00 Investment in Vikix co 26,000.00 Subsidiary income 26,000.00 Investment in Vikix Co 21,500.00 Translation Adj 21,500.00 Income From Sub 3,600.00 Investment in Vikix co 3,600.00 C. Tafft's consolidated income for 2005 Jan 1 investment cost 151,200.00 Less: Book Value (126,000.00) 25,200.00 Kroner Rate U.S Amoritization for income stmt Beginning Balance 100,000.00 0.18 18,000.00 Amoritization (10,000.00) 0.20 (2,000.00) Balance 90,000.00 0.38 16,000.00 Translation for Balance Sheet For Patent 40,000.00 0.18 7,200.00 Amoritization 5 years (8,000.00) 0.20 (1,600.00) 32,000.00 0.38 5,600.00...
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