Soft Bound Version for Advanced Accounting 13th Edition
13th Edition
ISBN: 9781260110579
Author: Hoyle
Publisher: McGraw Hill Education
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Chapter 3, Problem 29P
a.
To determine
Prepare a consolidation worksheet for these two companies as of December 31, 2018.
b.
To determine
Find the account balances which would the parent’s individual financial statements show for the Equity in Subsidiary Earnings,
c.
To determine
Explain the manner in which the consolidation entries differ on a December 31, 2018, worksheet.
d.
To determine
Explain the manner in which the December 31, 2018, reported consolidated balances differ.
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The following balances were taken from the records of Sheridan Company:
Common stock (1/1/20 and 12/31/20)
Retained earnings 1/1/20
Net income for 2023
Dividends declared in 2023
Retained earnings, 12/31/20
Total stockholders' equity on 12/31/20
(a)
1.
(b)
Windsor Company purchased 75% of Sheridan Company's common stock on January 1, 2021 for $901,200. The difference between implied value and t
2.
1.
Compute the difference between cost/(implied) and book value applying:
2.
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Parent company theory.
Economic unit theory.
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1.
Parent company theory
2.
Economic unit theory
1.
2.
Assuming the economic unit theory:
$
$162,700
$
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183,500
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(43,800)
Noncontrolling interest in net assets
Noncontrolling interest in consolidated income
$724,100
Difference
302,400
$1,026,500
Compute noncontrolling interest in consolidated income for 2023
Compute noncontrolling interest in net assets on December 31, 2023.
C
$
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Chapter 3 Solutions
Soft Bound Version for Advanced Accounting 13th Edition
Ch. 3 - Prob. 1QCh. 3 - Prob. 2QCh. 3 - Prob. 3QCh. 3 - Prob. 4QCh. 3 - When a parent company applies the initial value...Ch. 3 - Several years ago, Jenkins Company acquired a...Ch. 3 - Benns adopts the equity method for its 100 percent...Ch. 3 - Prob. 8QCh. 3 - Prob. 9QCh. 3 - Prob. 10Q
Ch. 3 - Prob. 1PCh. 3 - Prob. 2PCh. 3 - Prob. 3PCh. 3 - Prob. 4PCh. 3 - Paar Corporation bought 100 percent of Kimmel,...Ch. 3 - Prob. 6PCh. 3 - Prob. 7PCh. 3 - If no legal, regulatory, contractual, competitive,...Ch. 3 - Prob. 9PCh. 3 - Prob. 10PCh. 3 - What is Phoenixs consolidated retained earnings...Ch. 3 - On its December 31, 2018, consolidated balance...Ch. 3 - Prob. 13PCh. 3 - Herbert, Inc., acquired all of Rambis Companys...Ch. 3 - Prob. 15PCh. 3 - Prob. 16PCh. 3 - Prob. 17PCh. 3 - Prob. 18PCh. 3 - Prob. 19PCh. 3 - Prob. 20PCh. 3 - Prob. 21PCh. 3 - Prob. 22PCh. 3 - Following are selected account balances from...Ch. 3 - Prob. 24PCh. 3 - Prob. 25PCh. 3 - Prob. 26PCh. 3 - Prob. 27PCh. 3 - Prob. 28PCh. 3 - Prob. 29PCh. 3 - Prob. 30PCh. 3 - On January 1, 2017, Pinnacle Corporation exchanged...Ch. 3 - Following are selected accounts for Mergaronite...Ch. 3 - Prob. 33PCh. 3 - Prob. 34PCh. 3 - Prob. 35PCh. 3 - Prob. 36PCh. 3 - Prob. 37PCh. 3 - Prob. 38PCh. 3 - Prob. 39APCh. 3 - Prob. 40APCh. 3 - Prob. 1DYSCh. 3 - FASB ASC AND IASB RESEARCH CASE A vice president...Ch. 3 - Prob. 4DYSCh. 3 - Prob. 5DYS
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