P12-17+Vikix+Inc Part 2 upload

P12-17+Vikix+Inc Part 2 upload - P12-17 b Entries for 20X5...

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P12-17 b. Entries for 20X5: January 1 Investment in Vikix Company Common 151,200 Cash 151,200 Purchase of Vikix Inc. July 1 Cash 7,600 Investment in Vikix Company Common 7,600 Dividend received from foreign subsidiary: $7,600 = NKr40,000 x $.19 December 31 Investment in Vikix Company Common 26,000 Income from Subsidiary 26,000 Equity in net income of foreign subsidiary: $26,000 = Income of NKr130,000 x $.20 Investment in Vikix Company Common 21,500 Other Comprehensive Income — Translation Adjustment 21,500 Parent's share of translation adjustment from translation of subsidiary's accounts: $21,500 x 1.00 Income from Subsidiary 3,600 Investment in Vikix Company Common 3,600 Amortization of differential: Property, plant, and equipment $2,000 Patent 1,600 Total — see supporting schedule 2 $3,600 Investment in Vikix Company Common 4,020 Other Comprehensive Income — Translation Adjustment 4,020 Translation adjustment applicable to the differential: Property, plant, and equipment $2,900 Patent 1,120 Total — see supporting schedule 2 $4,020
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P12-17+Vikix+Inc Part 2 upload - P12-17 b Entries for 20X5...

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