tequirement 1. Prepare the worksheet for the consolidated balance sheet of Rose, Inc. start by recording the necessary elimination entries in order to avoid double-counts on the consolidated statements. Then, enter the consolidated amounts. (Leave unused cells blank. For accounts with a $0 consolidated balance, make sure to enter "0" in the appropriate column.) - X Rose, Inc. O Data Table Consolidation Work Sheet September 30. 20X8 Elimination Rose Mountain Rose Mountain Debit Credit Assets Assets Cash 60.000 $ 50.000 ...... 60.000 s 194.000 Cash 50.000 Accounts receivable, net . .. 194.000 86.000 Accounts receivable, net 86.000 Note receivable from Mountain 175,000 Note receivable from Mountain 175,000 Inventory 305,000 458,000 Inventory 305.000 458.000 Investment in Mountain 453,000 Investment in Mountain 453.000 403.000 524,000 403.000 524.000 PPE, net PPE, net 1,590,000 $ 1,127.000 $ 1.590.000 S 1,127.000 Total Total Liabilities and Shareholders' Equity Accounts payable 122,000 $ 87.000 Liabilities and Shareholders' Equity Notes payable 410,000 312.000 Accounts payable 122.000 S 07,000 Other liabilities 216,000 295.000 Notes payable 410.000 312.000 Other liabilities 210.000 Share capital 556,000 268.000 295.000 286,000 185,000 Retained earnings Share capital 556.000 268,000 $ 1,500.000 s 1,127,000 280,000 1.590.000 s 1.127,000 185.000 Total Retained earnings Total Print Done
tequirement 1. Prepare the worksheet for the consolidated balance sheet of Rose, Inc. start by recording the necessary elimination entries in order to avoid double-counts on the consolidated statements. Then, enter the consolidated amounts. (Leave unused cells blank. For accounts with a $0 consolidated balance, make sure to enter "0" in the appropriate column.) - X Rose, Inc. O Data Table Consolidation Work Sheet September 30. 20X8 Elimination Rose Mountain Rose Mountain Debit Credit Assets Assets Cash 60.000 $ 50.000 ...... 60.000 s 194.000 Cash 50.000 Accounts receivable, net . .. 194.000 86.000 Accounts receivable, net 86.000 Note receivable from Mountain 175,000 Note receivable from Mountain 175,000 Inventory 305,000 458,000 Inventory 305.000 458.000 Investment in Mountain 453,000 Investment in Mountain 453.000 403.000 524,000 403.000 524.000 PPE, net PPE, net 1,590,000 $ 1,127.000 $ 1.590.000 S 1,127.000 Total Total Liabilities and Shareholders' Equity Accounts payable 122,000 $ 87.000 Liabilities and Shareholders' Equity Notes payable 410,000 312.000 Accounts payable 122.000 S 07,000 Other liabilities 216,000 295.000 Notes payable 410.000 312.000 Other liabilities 210.000 Share capital 556,000 268.000 295.000 286,000 185,000 Retained earnings Share capital 556.000 268,000 $ 1,500.000 s 1,127,000 280,000 1.590.000 s 1.127,000 185.000 Total Retained earnings Total Print Done
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:Requirement 1. Prepare the worksheet for the consolidated balance sheet of Rose, Inc.
Start by recording the necessary elimination entries in order to avoid double-counts on the consolidated statements. Then, enter the consolidated amounts. (Leave unused cells blank. For accounts with a $0 consolidated balance, make sure to enter "0" in the appropriate column.)
Rose, Inc.
- X
Data Table
Consolidation Work Sheet
September 30, 20X6
Elimination
Rose
Mountain
Rose
Mountain
Debit
Credit
Assets
Assets
Cash
60.000 S
50,000
Cash
60,000 S
59,000
Accounts receivable, net
194,000
86,000
Accounts receivable, net
194.000
86,000
Note receivable from Mountain
175,000
Note receivable from Mountain
175,000
Inventory
305,000
458,000
Inventory
305,000
458.000
Investment in Mountain
453,000
453,000
403,000
Investment in Mountain
524.000
PPE, net
403,000
524,000
PPE, net
1,590,000 $ 1,127,000
$ 1,590,000 S 1,127,000
Total
.......
Total
Liabilities and Shareholders' Equity
Accounts payable
Notes payable
122,000 $
67,000
Liabilities and Shareholders' Equity
410,000
312,000
Accounts payable
122,000| S
67.000
Other liabilities
216,000
205,000
Notes payable
312,000
410,000
Share capital
558,000
268,000
Other liabilities
218,000
295.000
Retained earnings
286,000
185,000
Share capital
556,000
268,000
1,590,000 $ 1,127,000
288,000
185,000
Total
Retained earnings
1.590,000|| S 1,127.000
Total
Print
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