Ch05 - Excel templates

# Ch05 - Excel templates - Student Name: Class: Problem 05-32...

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Student Name: Class: Problem 05-32 a. How was the balance in the Equity Earnings of Sander account determined? 2011 income reported by Sander Excess patent fair value amortization Deferred gross profit for 12/31/11 intra-entity inventory Recognized gross profit for 1/11/11 intra-entity inventory Sander's income adjusted To controlling interest To noncontrolling interest PLYMOUTH COMPANY AND SUBSIDIARY Consolidation Worksheet December 31, 2011 Adjustments and Non- Eliminations controlling Consolidated Accounts Plymouth Sander Debit Credit Interest Totals Revenues (1,740,000) (950,000) Cost of goods sold 820,000 500,000 Depreciation expense 104,000 85,000 Amortization expense 220,000 120,000 Interest expense 20,000 15,000 Equity earnings - Sander (124,000) - Separate company income (700,000) (230,000) Consolidated income to noncontrolling interest Consolidated income to controlling interest Retained earnings, 1/1 (2,800,000) (345,000) Net Income (700,000) (230,000) Dividends paid 200,000 25,000 Retained earnings, 12/31 (3,300,000) (550,000) Cash 535,000 115,000 Accounts receivable 575,000 215,000 Inventory 990,000 800,000 Investment in Sander 1,420,000 Buildings and equipment 1,025,000 863,000 Patents 950,000 107,000 Goodwill Total assets 5,495,000 2,100,000 Accounts payable (450,000) (200,000) Notes payable (545,000) (450,000) Noncontrolling interest in Sander 1/1 Noncontrolling interest in Sander 12/31 Common stock (900,000) (800,000) Additional paid-in capital (300,000) (100,000) Retained earnings 12/31 (3,300,000) (550,000) Total liabilities and equity (5,495,000) (2,100,000) - -

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Student Name: Class: Problem 05-32 Parentheses indicate a credit balance.
Given Data P05-32: Sander Company outstanding stock purchased

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## This note was uploaded on 09/28/2011 for the course ACC 431 taught by Professor Talbert during the Spring '08 term at National.

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Ch05 - Excel templates - Student Name: Class: Problem 05-32...

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