Determine and explain the December 31, 2015, consolidated totals for the following accounts: Revenues Amortization Expense Customer List Cost of Goods Sold Buildings Common Stock Depreciation Expense Equipment Additional Paid-In Capital

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Answer 1

Question

Chapter 3, Problem 32P

a.

To determine

Determine and explain the December 31, 2015, consolidated totals for the following accounts:

Revenues

Amortization Expense

Customer List

Cost of Goods Sold

Buildings

Common Stock

Depreciation Expense

Equipment

Additional Paid-In Capital

b.

To determine

Explain in requirement (a), how the consolidated totals can be determined without knowing which method the parent used to account for the subsidiary.

c.

To determine

Identify the consolidation entries which would be used on a 2015 worksheet by parent if it uses the equity method.

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Answer 2

Question

Chapter 3, Problem 32P

a.

To determine

Determine and explain the December 31, 2015, consolidated totals for the following accounts:

Revenues

Amortization Expense

Customer List

Cost of Goods Sold

Buildings

Common Stock

Depreciation Expense

Equipment

Additional Paid-In Capital

b.

To determine

Explain in requirement (a), how the consolidated totals can be determined without knowing which method the parent used to account for the subsidiary.

c.

To determine

Identify the consolidation entries which would be used on a 2015 worksheet by parent if it uses the equity method.

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Answer 3

Question

Chapter 3, Problem 32P

a.

To determine

Determine and explain the December 31, 2015, consolidated totals for the following accounts:

Revenues

Amortization Expense

Customer List

Cost of Goods Sold

Buildings

Common Stock

Depreciation Expense

Equipment

Additional Paid-In Capital

b.

To determine

Explain in requirement (a), how the consolidated totals can be determined without knowing which method the parent used to account for the subsidiary.

c.

To determine

Identify the consolidation entries which would be used on a 2015 worksheet by parent if it uses the equity method.

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Answer 4

Question

Chapter 3, Problem 32P

a.

To determine

Determine and explain the December 31, 2015, consolidated totals for the following accounts:

Revenues

Amortization Expense

Customer List

Cost of Goods Sold

Buildings

Common Stock

Depreciation Expense

Equipment

Additional Paid-In Capital

b.

To determine

Explain in requirement (a), how the consolidated totals can be determined without knowing which method the parent used to account for the subsidiary.

c.

To determine

Identify the consolidation entries which would be used on a 2015 worksheet by parent if it uses the equity method.

Expert Solution & Answer

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Answer 5

Chapter 3, Problem 32P

a.

To determine

Determine and explain the December 31, 2015, consolidated totals for the following accounts:

Revenues

Amortization Expense

Customer List

Cost of Goods Sold

Buildings

Common Stock

Depreciation Expense

Equipment

Additional Paid-In Capital

b.

To determine

Explain in requirement (a), how the consolidated totals can be determined without knowing which method the parent used to account for the subsidiary.

c.

To determine

Identify the consolidation entries which would be used on a 2015 worksheet by parent if it uses the equity method.

Answer 6

Chapter 3, Problem 32P

a.

To determine

Determine and explain the December 31, 2015, consolidated totals for the following accounts:

Revenues

Amortization Expense

Customer List

Cost of Goods Sold

Buildings

Common Stock

Depreciation Expense

Equipment

Additional Paid-In Capital

Answer 7

Chapter 3, Problem 32P

a.

To determine

Determine and explain the December 31, 2015, consolidated totals for the following accounts:

Revenues

Amortization Expense

Customer List

Cost of Goods Sold

Buildings

Common Stock

Depreciation Expense

Equipment

Additional Paid-In Capital

Answer 8

b.

To determine

Explain in requirement (a), how the consolidated totals can be determined without knowing which method the parent used to account for the subsidiary.

Answer 9

b.

To determine

Explain in requirement (a), how the consolidated totals can be determined without knowing which method the parent used to account for the subsidiary.

Answer 10

c.

To determine

Identify the consolidation entries which would be used on a 2015 worksheet by parent if it uses the equity method.

Answer 11

c.

To determine

Identify the consolidation entries which would be used on a 2015 worksheet by parent if it uses the equity method.

Answer 12

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Answer 13

Expert Solution & Answer

Answer 14

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Answer 15

Ch. 3 - Prob. 1Q Ch. 3 - Prob. 2Q Ch. 3 - Prob. 3Q Ch. 3 - Prob. 4Q Ch. 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. 8Q Ch. 3 - Prob. 9Q Ch. 3 - Prob. 10Q

Determine and explain the December 31, 2015, consolidated totals for the following accounts: Revenues Amortization Expense Customer List Cost of Goods Sold Buildings Common Stock Depreciation Expense Equipment Additional Paid-In Capital

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Determine and explain the December 31, 2015, consolidated totals for the following accounts:

Revenues

Amortization Expense

Customer List

Cost of Goods Sold

Buildings

Common Stock

Depreciation Expense

Equipment

Additional Paid-In Capital

Explain in requirement (a), how the consolidated totals can be determined without knowing which method the parent used to account for the subsidiary.

Identify the consolidation entries which would be used on a 2015 worksheet by parent if it uses the equity method.

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Chapter 3 Solutions