Consolidation of statements: The result of the parent company, as well as all of the financial positions of its subsidiaries,are reflected in the consolidated statements. It is beneficial for creditors and owners of the parent company to know the outcome of the operations of the parent and its subsidiaries. The intra period purchase under the simple equity method the D &D schedule must be based on the subsidiary stockholders' equity on the interim purchase date including the subsidiary retained earnings balance on that date. The consolidated income must include only subsidiary income earned subsequent to the acquisition date. To calculate : 2015 consolidated worksheet including the elimination and adjustments column, consolidated income statement, the NCI, the controlling retained earnings and the consolidated balance sheet. Also, prepare supporting schedules.

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Answer 1

Question

Chapter 3, Problem 3.7.2P

To determine

Introduction:

Consolidation of statements:

The result of the parent company, as well as all of the financial positions of its subsidiaries,are reflected in the consolidated statements. It is beneficial for creditors and owners of the parent company to know the outcome of the operations of the parent and its subsidiaries. The intra period purchase under the simple equity method the D &D schedule must be based on the subsidiary stockholders' equity on the interim purchase date including the subsidiary retained earnings balance on that date. The consolidated income must include only subsidiary income earned subsequent to the acquisition date.

To calculate: 2015 consolidated worksheet including the elimination and adjustments column, consolidated income statement, the NCI, the controlling retained earnings and the consolidated balance sheet. Also, prepare supporting schedules.

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Answer 2

Question

Chapter 3, Problem 3.7.2P

To determine

Introduction:

Consolidation of statements:

The result of the parent company, as well as all of the financial positions of its subsidiaries,are reflected in the consolidated statements. It is beneficial for creditors and owners of the parent company to know the outcome of the operations of the parent and its subsidiaries. The intra period purchase under the simple equity method the D &D schedule must be based on the subsidiary stockholders' equity on the interim purchase date including the subsidiary retained earnings balance on that date. The consolidated income must include only subsidiary income earned subsequent to the acquisition date.

To calculate: 2015 consolidated worksheet including the elimination and adjustments column, consolidated income statement, the NCI, the controlling retained earnings and the consolidated balance sheet. Also, prepare supporting schedules.

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Answer 3

Question

Chapter 3, Problem 3.7.2P

To determine

Introduction:

Consolidation of statements:

The result of the parent company, as well as all of the financial positions of its subsidiaries,are reflected in the consolidated statements. It is beneficial for creditors and owners of the parent company to know the outcome of the operations of the parent and its subsidiaries. The intra period purchase under the simple equity method the D &D schedule must be based on the subsidiary stockholders' equity on the interim purchase date including the subsidiary retained earnings balance on that date. The consolidated income must include only subsidiary income earned subsequent to the acquisition date.

To calculate: 2015 consolidated worksheet including the elimination and adjustments column, consolidated income statement, the NCI, the controlling retained earnings and the consolidated balance sheet. Also, prepare supporting schedules.

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Answer 4

Question

Chapter 3, Problem 3.7.2P

To determine

Introduction:

Consolidation of statements:

The result of the parent company, as well as all of the financial positions of its subsidiaries,are reflected in the consolidated statements. It is beneficial for creditors and owners of the parent company to know the outcome of the operations of the parent and its subsidiaries. The intra period purchase under the simple equity method the D &D schedule must be based on the subsidiary stockholders' equity on the interim purchase date including the subsidiary retained earnings balance on that date. The consolidated income must include only subsidiary income earned subsequent to the acquisition date.

To calculate: 2015 consolidated worksheet including the elimination and adjustments column, consolidated income statement, the NCI, the controlling retained earnings and the consolidated balance sheet. Also, prepare supporting schedules.

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Answer 5

Chapter 3, Problem 3.7.2P

To determine

Introduction:

Consolidation of statements:

The result of the parent company, as well as all of the financial positions of its subsidiaries,are reflected in the consolidated statements. It is beneficial for creditors and owners of the parent company to know the outcome of the operations of the parent and its subsidiaries. The intra period purchase under the simple equity method the D &D schedule must be based on the subsidiary stockholders' equity on the interim purchase date including the subsidiary retained earnings balance on that date. The consolidated income must include only subsidiary income earned subsequent to the acquisition date.

To calculate: 2015 consolidated worksheet including the elimination and adjustments column, consolidated income statement, the NCI, the controlling retained earnings and the consolidated balance sheet. Also, prepare supporting schedules.

Answer 6

Chapter 3, Problem 3.7.2P

To determine

Introduction:

Consolidation of statements:

The result of the parent company, as well as all of the financial positions of its subsidiaries,are reflected in the consolidated statements. It is beneficial for creditors and owners of the parent company to know the outcome of the operations of the parent and its subsidiaries. The intra period purchase under the simple equity method the D &D schedule must be based on the subsidiary stockholders' equity on the interim purchase date including the subsidiary retained earnings balance on that date. The consolidated income must include only subsidiary income earned subsequent to the acquisition date.

To calculate: 2015 consolidated worksheet including the elimination and adjustments column, consolidated income statement, the NCI, the controlling retained earnings and the consolidated balance sheet. Also, prepare supporting schedules.

Answer 7

Chapter 3, Problem 3.7.2P

To determine

Introduction:

Consolidation of statements:

The result of the parent company, as well as all of the financial positions of its subsidiaries,are reflected in the consolidated statements. It is beneficial for creditors and owners of the parent company to know the outcome of the operations of the parent and its subsidiaries. The intra period purchase under the simple equity method the D &D schedule must be based on the subsidiary stockholders' equity on the interim purchase date including the subsidiary retained earnings balance on that date. The consolidated income must include only subsidiary income earned subsequent to the acquisition date.

To calculate: 2015 consolidated worksheet including the elimination and adjustments column, consolidated income statement, the NCI, the controlling retained earnings and the consolidated balance sheet. Also, prepare supporting schedules.

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 3 - Prob. 1UTI Ch. 3 - Prob. 2UTI Ch. 3 - Prob. 3UTI Ch. 3 - Prob. 4UTI Ch. 3 - Prob. 5UTI Ch. 3 - Prob. 6UTI Ch. 3 - Prob. 7UTI Ch. 3 - Prob. 1E Ch. 3 - Prob. 2E Ch. 3 - Prob. 3.1E

Solution Summary: The author explains how the parent company's financial position is reflected in the consolidated statements.

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Chapter 3 Solutions