Chapter 5, Problem 15P

A.

To determine

Prepare the eliminating/adjusting entries needed on the consolidated worksheet for the year ended December 31, 2018.

B.

To determine

Present the eliminating/adjusting entries needed on the consolidated worksheet for the year ended December 31, 2019.

C.

To determine

Prepare a T-Account calculation of the controlling and non-controlling interests in consolidated income for the year ended December 31, 2020.

D.

To determine

Prepare a consolidated financial statements work paper for the year ended December 31, 2020.

E.

To determine

Prepare a consolidated statement of financial position and a consolidated income statement for the year ended December 31, 2020.

F.

To determine

Explain the effect on the consolidated balances if Company S uses the LIFO cost flow assumption in pricing its inventory and there has been no decrease in ending inventory quantities since 2018.

G.

To determine

Prepare an analytical calculation of consolidated retained earnings for the year ended December 31, 2020.