acc311.5 - 380000 Sub Balance 210000 Remove Interco...

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1a) Sell price 140000 Purcahse price 100000 Gain on Sale 40000 b) Land 140000 c) CGOS 40000 d) 160000-140000 20000 e) CGOS 20000 f) Reained Earnings 20000 2a) Purchase Price 100000 Depreciation 70000 Book Value 30000 Sell price 80000 Gain of Sale 50000 b) Purchase 80000 c) CGOS 50000 d) Consolidated Equ 30000 Accum Deprec 10000 x 7 70000 e) Consolidated Equ 80000-16000 64000 Accum Deprec 80000/5 16000 f) Accum Deprec 70000 Depreciation Exp 70000 g) Accum Deprec 6000 Depreciation Exp 6000 1) C 2) B 100000 x 50% 50000 50000 x 40% 20000 3) A 4) C 12/31/2009 Interco Gross profit 100000 - 75000 25000 Ending Inventory 16% Unrealized Interco Gross profit 4000 12/31/2010 Interco Gross profit 120000 - 96000 24000 Ending Inventory 35% Unrealized Interco Gross profit 8400 Parent balance
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Unformatted text preview: 380000 Sub Balance 210000 Remove Interco transfer-120000 Recognize 2009 Gross profit-4000 Defer 2010 Unrealized Griss Profit 8400 Cost of Goods Sold 474400 5) A 600000 + 180000 -100000 +10000 690000 6) C 600000 + 180000 -100000 +16000 696000 7) B 12/31/2009 Endning Inventory 40000 Markup 30% Unrealize Gross profit 12000 12/31/2010 Endning Inventory 50000 Markup 40% Unrealize Gross profit 20000 Reported Income 2010 90000 Realized gross profit defered 2009 12000 Deferral 2010 unrealized gross profit-20000 Realize Income of Sub 82000 Outside Ownership 10% Noncontrolling interest 8200...
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acc311.5 - 380000 Sub Balance 210000 Remove Interco...

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