ADVANCED ACCOUNTING
ADVANCED ACCOUNTING
3rd Edition
ISBN: 9781618531902
Author: Halsey & Hopkins
Publisher: Cambridge Business Publishers
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Chapter 5, Problem 53P

a.

To determine

Separate the activity for the 100% Acquisition Accounting Premium (AAP), the controlling interest AAP and the noncontrolling interest AAP.

b.

To determine

Compute the profits and losses on intercompany transactions and balances.

c.

To determine

Calculate the beginning and ending balances of pre-consolidation Equity Investment account.

d.

To determine

Prepare T-account for the Equity Investment for year of consolidation.

e.

To determine

Calculate the beginning and ending balances of noncontrolling interest.

f.

To determine

Determine consolidated net income, controlling interest net income and noncontrolling interest net income.

g.

To determine

Prepare the consolidating journal entries according to the C-E-A-D-I sequence. Prepare the

consolidation worksheet.

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