Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company. Whether G company is parent company or R company is parent company.

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Answer 1

Question

Chapter 8, Problem 8.17AP

a.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Whether G company is parent company or R company is parent company.

b.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company

The percentage of ownership is held by R corporation in G corporation.

c.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company

The net income to be reported after adjustment of investment of bonds.

d.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

The net increase or decrease in the income of non-controlling interest.

e.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

The entry to remove the effect of intercompany ownership of bonds.

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Nevaeh Manufacturing company has a beginning finished goods inventory of $16,200, cost of goods manufactured of $45,800, and an ending finished goods inventory of $18,500. The cost of goods sold for this company is: A. $37,300 B. $45,100 C. $43,500 D. $47,500 Zenith Enterprises has sales of $350,000, cost of goods sold of $190,000, net profit of $15,600, net fixed assets of $170,000, and current assets of $95,000. What is the total asset turnover rate?

I need help with this problem and accounting question

Please provide the accurate answer to this general accounting problem using appropriate methods.

Answer 2

Question

Chapter 8, Problem 8.17AP

a.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Whether G company is parent company or R company is parent company.

b.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company

The percentage of ownership is held by R corporation in G corporation.

c.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company

The net income to be reported after adjustment of investment of bonds.

d.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

The net increase or decrease in the income of non-controlling interest.

e.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

The entry to remove the effect of intercompany ownership of bonds.

Expert Solution & Answer

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See solution

Answer 3

Question

Chapter 8, Problem 8.17AP

a.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Whether G company is parent company or R company is parent company.

b.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company

The percentage of ownership is held by R corporation in G corporation.

c.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company

The net income to be reported after adjustment of investment of bonds.

d.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

The net increase or decrease in the income of non-controlling interest.

e.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

The entry to remove the effect of intercompany ownership of bonds.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 8, Problem 8.17AP

a.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Whether G company is parent company or R company is parent company.

b.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company

The percentage of ownership is held by R corporation in G corporation.

c.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company

The net income to be reported after adjustment of investment of bonds.

d.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

The net increase or decrease in the income of non-controlling interest.

e.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

The entry to remove the effect of intercompany ownership of bonds.

Expert Solution & Answer

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See solution

Answer 5

Chapter 8, Problem 8.17AP

a.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Whether G company is parent company or R company is parent company.

b.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company

The percentage of ownership is held by R corporation in G corporation.

c.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company

The net income to be reported after adjustment of investment of bonds.

d.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

The net increase or decrease in the income of non-controlling interest.

e.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

The entry to remove the effect of intercompany ownership of bonds.

Answer 6

Chapter 8, Problem 8.17AP

a.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Whether G company is parent company or R company is parent company.

Answer 7

Chapter 8, Problem 8.17AP

a.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Whether G company is parent company or R company is parent company.

Answer 8

b.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company

The percentage of ownership is held by R corporation in G corporation.

Answer 9

b.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company

The percentage of ownership is held by R corporation in G corporation.

Answer 10

c.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company

The net income to be reported after adjustment of investment of bonds.

Answer 11

c.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company

The net income to be reported after adjustment of investment of bonds.

Answer 12

d.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

The net increase or decrease in the income of non-controlling interest.

Answer 13

d.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

The net increase or decrease in the income of non-controlling interest.

Answer 14

e.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

The entry to remove the effect of intercompany ownership of bonds.

Answer 15

e.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

The entry to remove the effect of intercompany ownership of bonds.

Answer 16

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Answer 17

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Answer 18

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Answer 19

Ch. 8 - Prob. 8.1Q Ch. 8 - What is meant by a constructive bond retirement in...Ch. 8 - Prob. 8.3Q Ch. 8 - Prob. 8.4Q Ch. 8 - When a parent company sells land to a subsidiary...Ch. 8 - Prob. 8.7Q Ch. 8 - Prob. 8.8Q Ch. 8 - Prob. 8.9Q Ch. 8 - Prob. 8.10Q Ch. 8 - Prob. 8.11Q

Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company. Whether G company is parent company or R company is parent company.

Solution Summary: The author explains the process of combining financial results of various subsidiaries with the financial result of parent company.

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Whether G company is parent company or R company is parent company.

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

The entry to remove the effect of intercompany ownership of bonds.

Want to see the full answer?

Chapter 8 Solutions

Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company. Whether G company is parent company or R company is parent company.

Solution Summary: The author explains the process of combining financial results of various subsidiaries with the financial result of parent company.

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company. Whether G company is parent company or R company is parent company.

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company. The entry to remove the effect of intercompany ownership of bonds.

Want to see the full answer?

Chapter 8 Solutions

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

The entry to remove the effect of intercompany ownership of bonds.