Chapter 7, Problem 14P

a.

To determine

Concept Introduction:

When a company has two or more subsidiaries, if it maintains a single income statement with all the subsidiaries, then it is called a consolidated income statement. It’s a part of the consolidated financial statement. It is a report that compiles all of a parent company's and subsidiary's actions into one document.

The company A’s investment in company B’s account if all companies use the equity method for internal reporting purposes on December 31, 2020

b)

To determine

Concept Introduction:

When a company has two or more subsidiaries, if it maintains a single income statement with all the subsidiaries, then it is called a consolidated income statement. It's a part of the consolidated financial statement. It is a report that compiles all of a parent company's and subsidiary's actions into one document.

The consolidated net income for the business combination for the year 2021.

c)

To determine

Concept Introduction:

When a company has two or more subsidiaries, if it maintains a single income statement with all the subsidiaries, then it is called a consolidated income statement. It's a part of the consolidated financial statement. It is a report that compiles all of a parent company's and subsidiary's actions into one document.

The income attributable to non-controlling interest for the year 2021.

d)

To determine

Concept Introduction:

When a company has two or more subsidiaries, if it maintains a single income statement with all the subsidiaries, then it is called a consolidated income statement. It's a part of the consolidated financial statement. It is a report that compiles all of a parent company's and subsidiary's actions into one document.

The accrual basis net income of B companies for the years 2020 and 2021.