following are several figures reported for Allister and Barone as of December 31, 2018: Allister Barone Inventory $ 400,000 $ 200,000 Sales 800,000 600,000 Investment income not given Cost of goods sold 400,000 300,000 Operating expenses 180,000 250,000 Allister acquired 70 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 $65,000 that was unrecorded on its accounting records and had a 5-year remaining life. Any remaining excess fair value over Barone's book value was attributed to goodwill. During 2018, Barone sells inventory costing $120,000 to Allister for $160,000. Of this amount, 20 percent remains unsold in Allister's warehouse at year-end. Determine balances for the following items that would appear on Allister's consolidated financial statements for 2018: Inventory____$_____________________ Sales________________________ Cost of Goods_____________ Operating Expenses______________ Net Income Attribute to noncontrolling Interent________________
following are several figures reported for Allister and Barone as of December 31, 2018:
| Allister | Barone | |||
| Inventory | $ | 400,000 | $ | 200,000 |
| Sales | 800,000 | 600,000 | ||
| Investment income | not given | |||
| Cost of goods sold | 400,000 | 300,000 | ||
| Operating expenses | 180,000 | 250,000 | ||
Allister acquired 70 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 $65,000 that was unrecorded on its accounting records and had a 5-year remaining life. Any remaining excess fair value over Barone's book value was attributed to
Determine balances for the following items that would appear on Allister's consolidated financial statements for 2018:
Inventory____$_____________________
Sales________________________
Cost of Goods_____________
Operating Expenses______________
Net Income Attribute to noncontrolling Interent________________
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