Allister Barone $300,000 800,000 Inventory.. Sales .... Investment income Cost of goods sold Operating expenses. 1,000,000 not given 400,000 300,000 500,000
Following are several figures reported for Allister and Barone as of December 31, 2018:
Allister acquired 90 percent of Barone in January 2017. In allocating the newly acquired subsidiary’s fair value at the acquisition date, Allister noted that Barone had developed a customer list worth $78,000 that was unrecorded on its accounting records and had a 4-year remaining life. Any remaining excess fair value over Barone’s book value was attributed to
Determine balances for the following items that would appear on Allister’s consolidated financial statements for 2018:
Inventory
Sales
Cost of Goods Sold
Operating Expenses
Net Income Attributable to Noncontrolling Interest
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
