Fundamentals of Advanced Accounting
Fundamentals of Advanced Accounting
6th Edition
ISBN: 9780077862237
Author: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik
Publisher: McGraw-Hill Education
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Chapter 3, Problem 32P

a.

To determine

Determine and explain the December 31, 2015, consolidated totals for the following accounts:

  • Revenues
  • Amortization Expense
  • Customer List
  • Cost of Goods Sold
  • Buildings
  • Common Stock
  • Depreciation Expense
  • Equipment
  • Additional Paid-In Capital

b.

To determine

Explain in requirement (a), how the consolidated totals can be determined without knowing which method the parent used to account for the subsidiary.

c.

To determine

Identify the consolidation entries which would be used on a 2015 worksheet by parent if it uses the equity method.

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