Soft Bound Version for Advanced Accounting 13th Edition
13th Edition
ISBN: 9781260110579
Author: Hoyle
Publisher: McGraw Hill Education
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Chapter 3, Problem 29P
a.
To determine
Prepare a consolidation worksheet for these two companies as of December 31, 2018.
b.
To determine
Find the account balances which would the parent’s individual financial statements show for the Equity in Subsidiary Earnings, Retained Earnings, and Investment in Company A’s accounts.
c.
To determine
Explain the manner in which the consolidation entries differ on a December 31, 2018, worksheet.
d.
To determine
Explain the manner in which the December 31, 2018, reported consolidated balances differ.
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Instruction
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(a)
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(b)
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Parent company theory.
Economic unit theory.
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1.
Parent company theory
2.
Economic unit theory
1.
2.
Assuming the economic unit theory:
$
$162,700
$
eTextbook and Media
183,500
Save for Later
(43,800)
Noncontrolling interest in net assets
Noncontrolling interest in consolidated income
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Compute noncontrolling interest in consolidated income for 2023
Compute noncontrolling interest in net assets on December 31, 2023.
C
$
Chapter 3 Solutions
Soft Bound Version for Advanced Accounting 13th Edition
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