ADVANCED FIN. ACCT. LL W/ACCESS>CUSTOM<
ADVANCED FIN. ACCT. LL W/ACCESS>CUSTOM<
12th Edition
ISBN: 9781265074623
Author: Christensen
Publisher: MCG CUSTOM
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Chapter 3, Problem 3.6E

a.

To determine

Introduction:

Consolidated financial statement includes consolidated balance sheet maintained by the parent company. It includes all the assets and liabilities of the parent and subsidiary company over a particular period.

To calculate: The total assets of P company in its individual balance sheet.

b.

To determine

Introduction:

Consolidated financial statement includes consolidated balance sheet maintained by the parent company. It includes all the assets and liabilities of the parent and subsidiary company over a particular period.

To Calculate:

The total assets reported in the consolidated balance sheet.

c.

To determine

Introduction:

Consolidated financial statement includes consolidated balance sheet maintained by the parent company. It includes all the assets and liabilities of the parent and subsidiary company over a particular period.

To Calculate:

The total liabilities reported in the consolidated balance sheet.

d.

To determine

Introduction:

Consolidated financial statement includes consolidated balance sheet maintained by the parent company. It includes all the assets and liabilities of the parent and subsidiary company over a particular period.

To Calculate:

The amount of stockholders’ equity was reported in the consolidated balance sheet.

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Power Corporation acquired 70 percent of Silk Corporation’s common stock on December 31, 20x2. Balance sheet datafor the two companies immediately following acquisition follow 4. What amount of investment in Silk will be reported?A. P 0 C. P 150,500B. P 140,000 D. P 215,0005. What amount of liabilities will be reported?A. P265,000 C. P 622,000B. P 436,500 D. P 701,5006. What amount will be reported as non-controlling interest?A. P 42,000 C. P 60,900B. P 52,500 D. P 64,500
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