Convert to simple equity method as of January 1, 20X9 (90% of $50,000 increase in Sub’s retained…

Our academic writers are ready and waiting to assist with any assignment you may have. From simple essays to full dissertations, you're guaranteed we've got a writing expert to perfectly match your needs.


Order a Similar Paper Order a Different Paper

Eliminations and Adjustments: (CV) Convert to simple equity method as of January 1, 20X9 (90% of $50,000 increase in Sub’s retained earnings from January 1, 20X8 to January 1, 20X9). (CY) Eliminate Parent’s dividend income against dividends declared by Subsidiary. (EL) Eliminate 90% of the Subsidiary Company equity balances at the beginning of the year against the investment account. (D) Distribute the $150,000 excess of cost over book value to goodwill; allocate to Parent and NCI. (B1) Eliminate $3,000 of intercompany interest receivable and payable. (B2) Eliminate all of the intercompany interest income and expense. Eliminate the balances in investment in bonds, bonds payable, and discount on bonds payable. The resulting gain of $900 is the gain as of beginning of year: on January 1, 20X8 $97,300 carrying value of bonds less $96,400 purchase price.

Attachments:

Writerbay.net

Do you need help with this or a different assignment? In a world where academic success does not come without efforts, we do our best to provide the most proficient and capable essay writing service. After all, impressing professors shouldn’t be hard, we make that possible. If you decide to make your order on our website, you will get 15 % off your first order. You only need to indicate the discount code GET15.


Order a Similar Paper Order a Different Paper