Solution to Extra Credit Problem 2 Summer I 2009

Solution to Extra Credit Problem 2 Summer I 2009 -...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Accounting 401 Solution to Extra Credit 2 Problem Summer I 2009 Consolidated Elimination Entries: Equity in Subsidiary earnings 103,040 Dividends – Carper 58,800 Investment in Carper 44,240 Share of Carper income $107,800 Amortization of fair value excess: Building 1,960 Copyrights 2,800 4,760 $103,040 Common stock – Carper 420,000 Retained earnings – Carper 375,200 (252,000 + 105,000 – 54,600 + 134,400 – 61,600) Investment in Carper 556,640 [(420,000 + 375,200) x 0.3] Noncontrolling interest 238,560 Building (net) 22,400 [28,000 – (2) (2,800)] Copyrights
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/09/2012 for the course ACCT 401 taught by Professor Staff during the Summer '08 term at Texas A&M.

Page1 / 2

Solution to Extra Credit Problem 2 Summer I 2009 -...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online