Soft Bound Version for Advanced Accounting 13th Edition
13th Edition
ISBN: 9781260110579
Author: Hoyle
Publisher: McGraw Hill Education
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Chapter 4, Problem 41P
a.
To determine
Prepare a consolidated income statement for the year ending December 31, 2018.
b.
To determine
Determine the consolidated balance for each of the following accounts as of December 31, 2018:
Goodwill - Equipment (net)
- Building (net)
- Dividends declared
- Common stock
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Following are the individual financial statements for Gibson and Davis for the year ending December 31, 2021:
Gibson
Davis
Sales
$
(774,000
)
$
(359,000
)
Cost of goods sold
351,000
167,000
Operating expenses
197,000
80,000
Dividend income
(18,000
)
0
Net income
$
(244,000
)
$
(112,000
)
Retained earnings, 1/1/21
$
(746,000
)
$
(416,000
)
Net income
(244,000
)
(112,000
)
Dividends declared
60,000
30,000
Retained earnings, 12/31/21
$
(930,000
)
$
(498,000
)
Cash and receivables
$
314,400
$
80,000
Inventory
505,000
168,000
Investment in Davis
576,600
0
Buildings (net)
551,000
592,000
Equipment (net)
453,000
499,000
Total assets
$
2,400,000
$
1,339,000
Liabilities
$
(840,000
)
$
(501,000
)
Common stock
(630,000
)
(340,000
)
Retained earnings, 12/31/21
(930,000
)
(498,000
)
Total liabilities and stockholders' equity
$…
ollowing are financial statements for Moore Company and Kirby Company for 2021:
Moore
Kirby
Sales
$ (800,000)
$ (600,000)
Cost of goods sold
500,000
400,000
Operating and interest expenses
100,000
160,000
Net income
$ (200,000)
$ (40,000)
Retained earnings, 1/1/21
$ (990,000)
$ (550,000)
Net income
(200,000)
(40,000)
Dividends declared
130,000
–0–
Retained earnings, 12/31/21
$(1,060,000)
$ (590,000)
Cash and receivables
$ 217,000
$ 180,000
Inventory
224,000
160,000
Investment in Kirby
657,000
–0–
Equipment (net)
600,000
420,000
Buildings
1,000,000
650,000
Accumulated depreciation—buildings
(100,000)
(200,000)
Other assets
200,000
100,000
Total assets
$ 2,798,000
$ 1,310,000
Liabilities
$(1,138,000)
$ (570,000)
Common stock
(600,000)
(150,000)
Retained earnings, 12/31/21
(1,060,000)
(590,000)
Total…
financial statement below represents the performance of Yovela & Co in 2023. Yovela and
Co Income statement for the year ended 31 December 2023 $ Sales revenue 187,000 Cost
of goods sold (105,000) Gross profit 82,000 Interest income 1, 050 Selling, General &
Administrative Exp. (49,300) Interest Expense (1,950) Profit before tax 31,800 Tax Exp.
(8,427) Profit after tax 23, 373 Statement of financial position as at 31 December 2023
ASSETS $ $ Non- Current Assets Delivery van 44, 500 Current Assets Inventories 26,000
Trade receivables 21, 600 Cash at bank 20,855 Prepaid expenses (325) 68,455 Total Assets
112,955 EQUITY AND LIABILITIES Current Liabilities Trade payables 18,000 Tax payable
2,350 20, 350 Non- Current Liabilities Non- current debt 35, 650 Total Liabilities 56, 000
Equity 56, 955 Total equity and liabilities 112, 955 Required: As an analyst, you are required
to prepare a condensed financial statement as part of your process of evaluating the
business of Yovela $ Co. Useful…
Chapter 4 Solutions
Soft Bound Version for Advanced Accounting 13th Edition
Ch. 4 - Prob. 1QCh. 4 - Atwater Company acquires 80 percent of the...Ch. 4 - What is a control premium and how does it affect...Ch. 4 - Prob. 4QCh. 4 - How is the noncontrolling interest in a subsidiary...Ch. 4 - Prob. 6QCh. 4 - Prob. 7QCh. 4 - Prob. 8QCh. 4 - Prob. 9QCh. 4 - Prob. 10Q
Ch. 4 - Prob. 1PCh. 4 - Prob. 2PCh. 4 - Prob. 3PCh. 4 - Prob. 4PCh. 4 - Prob. 5PCh. 4 - Prob. 6PCh. 4 - Prob. 7PCh. 4 - Assuming that Pride, in its internal records,...Ch. 4 - Prob. 9PCh. 4 - Prob. 10PCh. 4 - Prob. 11PCh. 4 - Prob. 12PCh. 4 - Prob. 13PCh. 4 - Prob. 14PCh. 4 - Prob. 15PCh. 4 - Prob. 16PCh. 4 - Prob. 17PCh. 4 - Prob. 18PCh. 4 - Current liabilities: a. 50,000 b. 46,000 c. 40,000...Ch. 4 - Prob. 20PCh. 4 - Stockholders equity: a. 80,000 b. 90,000 c. 95,000...Ch. 4 - Prob. 22PCh. 4 - Prob. 23PCh. 4 - Prob. 24PCh. 4 - Prob. 25PCh. 4 - Prob. 26PCh. 4 - Prob. 27PCh. 4 - Prob. 28PCh. 4 - Prob. 29PCh. 4 - Prob. 30PCh. 4 - Prob. 31PCh. 4 - Prob. 32PCh. 4 - Prob. 33PCh. 4 - Prob. 34PCh. 4 - Prob. 35PCh. 4 - Prob. 36PCh. 4 - Prob. 37PCh. 4 - Prob. 38PCh. 4 - Prob. 39PCh. 4 - Prob. 40PCh. 4 - Prob. 41PCh. 4 - Prob. 42PCh. 4 - Prob. 43PCh. 4 - Prob. 44PCh. 4 - Prob. 1DYSCh. 4 - Prob. 2DYSCh. 4 - Costco Wholesale Corporation owns and operates...
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