Charisa Company (Charisa) acquired an 85% interest in Donna Limited (Donna) several years ago when the retained earnings of Deanna were $880,000. The book value of Donna's net asapproximated their fair value,During 2021, Donna sold inventories for $84,000 to Charisa at a 50% markup on cost. The transfer price of intercompany inventories remaining in ending inventories is summarized below2021 (S)Inventories from Intercompany Sales in Ending Inventory of Charisa21,000In 2021, Donna reported net income of $107,000 and declared dividends of $47,000. Charisa reported net income of $268,000. Calculate theconsolidated net income attributable to Parent's shareholders for the year ended December 31, 2021.Oa $312,000Ob.$353,000O C. $313,050Od.$295,200O 0. $351,950Of. None of the above

Consolidated net income is the difference between the consolidated revenue amount and the…

In 2021, Donna reported net income of $107,000 and declared dividends of $47,000. Charisa reported net income of $268,000. Calculate the consolidated net income attributable to Parent's shareholders for the year ended December 31, 2021.

In 2021, Donna reported net income of $107,000 and declared dividends of $47,000. Charisa reported net income of $268,000. Calculate the consolidated net income attributable to Parent's shareholders for the year ended December 31, 2021.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.

Question

Charisa Company (Charisa) acquired an 85% interest in Donna Limited (Donna) several years ago when the retained earnings of Deanna were $880,000. The book value of Donna's net as
approximated their fair value,
During 2021, Donna sold inventories for $84,000 to Charisa at a 50% markup on cost. The transfer price of intercompany inventories remaining in ending inventories is summarized below
2021 (S)
Inventories from Intercompany Sales in Ending Inventory of Charisa
21,000
In 2021, Donna reported net income of $107,000 and declared dividends of $47,000. Charisa reported net income of $268,000. Calculate the
consolidated net income attributable to Parent's shareholders for the year ended December 31, 2021.
Oa $312,000
Ob.$353,000
O C. $313,050
Od.$295,200
O 0. $351,950
Of. None of the above

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