ansa Co. acquired 60% interest in Arya on January 1, 2025 for $46,800 when Arya's net assets had a book value equal to its fair value of $79,000. On the same year, Sansa sold inventory items costing $78,000 to Arya for $104,000 and Arya's inventory at December 31, 2025 included one-fourth of this merchandise. Sansa reported separate income from its own operations of $48,800, and Arya reported a net loss of $19,500 for the year.    Compute for the consolidated net income,2025

Q: Baxter, Inc., owns 90 percent of Wisconsin, Inc., and 20 percent of Cleveland Company. Wisconsin, in…

A: The answer is stated below:

Q: Following are several figures reported for Allister and Barone as of December 31, 2018:Allister…

A: Consolidated Total Assets means, as of any date of determination, the total amount of all assets of…

Q: ABC Corp. Acquired a 70% interest in GHI Corp on January 2, 2021 for P936,000 when GHI's net assets…

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A: Consolidated Sales is the total sales of the group less inter company sales Consolidated Sales =…

Q: Baxter, Inc., owns 90 percent of Wisconsin, Inc., and 20 percent of Cleveland Company. Wisconsin, in…

A:

Q: On January 1, 2020, Pfizer Corp. acquired 80% of Vaxx Corp.’s common stock for P160,000 cash. The…

A: Business combination means when one of the company merges with another company or two companies…

Q: On January 1, 2018, Alamar Corporation acquired a 42 percent interest in Burks, Inc., for $185,000.…

A: Equity method: Equity method is the method used for accounting equity investments which claims a…

Q: On January 1, 2020, Pfizer Corp. acquired 80% of Vaxx Corp.’s common stock for P160,000 cash. The…

A: In simpler words, a consolidated balance sheet is simply the consolidation of financial facts from…

Q: P Corporation acquired an 80% interest in S Corporation on January 1, 2014, when the book values of…

A: Unrealized loss on inventory sold to S = (Cost of merchandise sold - sales value of merchandise…

Q: Inventory s 948,400 $ 1,924,000 $ 875,600 Sales Cost of goods sold Operating expenses 622,000 Net…

A: When the parent company and the subsidiary company merge their financial statement, then the…

Q: Penny Ltd, a reporting entity, acquired 100% of the issued shares of Lane Ltd on 1 July 2016. The…

A: Adjusting journal entry: At year end when company finalise its accounts then any unrecognized income…

Q: Sanchez Company acquired inventories on June 1, 2021 from its 60% owned subsidiary, Black…

A: Eliminating the inter company transactions Inventory in stock of Sanchez= P 285000*30%= P 85500…

Q: Grumpy is a 90%-owned subsidiary of Margot Corporation, acquired at book value several years ago.…

A: The question is related to Consolidated Financial Statements and is multiple choice question.…

Q: Palermo Corporation acquired an 80% interest in Steel Corporation at a cost equal to 80% of the book…

A: Given, Palermo Corporation acquired an 80% interest in Steel Corporation.

Q: On January 1, 2020, Pfizer Corp. acquired 80% of Vaxx Corp.’s common stock for P160,000 cash. The…

A: The total liabilities of the consolidated balance sheet will be the summation of the book value of…

Q: On April 1, 2021, BBC Co. acquired a 30% stake in LTI Inc. for $ 100,000. This amount includes $…

A: Consolidated Income Statement: It can be referred to as an income statement prepared by the parent…

Q: On January 1, 2019, Post Corporation acquired 80 percent of Star Company's common stock for $160,000…

A: Given Information :  Book value of Star company = $160,000 Net income for 2019 = $60,000 Net income…

Q: On January 1, 2020, Adamson, Inc. acquired the outstanding voting common stock of Skyview Corp. for…

A: Consolidated financial statements can be defined as the combined financial statements of the parent…

Q: On January 1, 2021, PCO purchased 70% ownership of SCO which resulted to a gain on acquisition of…

A: Cost of goods sold=Beginning inventory+Net purchases-Ending inventory

Q: RAM, Inc., acquired a 60 percent interest in LMU Company several years ago. During 2017, LMU sold…

A: Cost of Goods Sold - It the value of costs which are incurred in the transacting sales of goods or…

Q: Pauline Company acquired 4,000 shares of the outstanding stock of Sophia Company for P1,200,000 on…

A: It is the net income of parent company of its own and share in subsidiary company. The share of…

Q: Marie Co. sold inventories on May 1, 2021 to its 75% owned subsidiary, Paz Company. The inventories…

A: Stake of Marie Co in Paz company = 75% Minority stake(Non-controlling interest) = 25% Of the total…

Q: On January 1, 2020, Pfizer Corp. acquired 80% of Vaxx Corp's common stock for P160,000 cash. The…

A: Pfizer Corp acquired 80% share in Vax Corp.   So  now as per law Pfizer…

Q: On January 1, 2021, PCO purchased 70% ownership of SCO which resulted to a gain on acquisition of…

A: Cost of goods sold=Beginning inventory+Net Purchases-Ending inventory

Q: ABC Corp. acquired a 60% interest in DEF on January 1, 2021 for P468,000 when DEF's net assets had a…

A: The question is multiple choice question  Required  Choose the Correct Option.

Q: On January 1, 2021, PCO purchased 70% ownership of SCO which resulted to a gain on acquisition of…

A: Acquisition refers to the purchase of a part or complete ownership of a corporation by another…

Q: On January 1, 2014, P Company purchased an 80% interest in S Company for $628,000, at which time S…

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A:

Q: P Corporation owns 80 percent of S Inc.’s common stock. During 2020, P sold Inventory to S for…

A: Consolidated financial statements can be defined as the financial statements where the balance…

Q: statement in 2020?*

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A: Equity method: Equity method is the method used for accounting equity investments which claims a…

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A: Following is the answer to the given question

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Q: On January 1, 2019, Post Corporation acquired 80 percent of Star Company's common stock for $160,000…

A:

Q: On January 1, 2019, Post Corporation acquired 80 percent of Star Company's common stock for $160,000…

A: THE CORRECT OPTION IS OPTION B  BALANCE OF INVESTMENT IN STAR COMPANY ON DECEMBER 31 , 2020 =…

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Q: How much is the realized profit to be allocated to non-controlling interest in 2022?

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A: P income from S for 2014 = Separate income of S x Separate incomes

Q: Leslie's Company bought 20% of Prudence Company's ordinary share on January 1, 2020 for P3,700,000.…

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Q: On January 1, 2020, Pfizer Corp. acquired 80% of Vaxx Corp.’s common stock for P160,000 cash. The…

A: Consolidated balance sheet is the balance sheet prepared by the company which has another subsidiary…

Q: Alford Company and its 80 percent–owned subsidiary, Knight, have the following income statements for…

A: Cash flow statements are the statements that determine the inflow and outflow of cash from three…

Q: On January 1, 2019, Post Corporation acquired 80 percent of Star Company's common stock for $160,000…

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Q: P Corporation acquired an 80% interest in S Corporation on January 1, 2014, when the book values of…

A: Consolidation of accounts is a type of accounting used for accounting for group companies. In this,…

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Q: Lend Co. acquired inventories on May 1, 2021 from its 70% owned subsidiary, Martin Company. The…

A: Solution Unrealised profit means the part of the gross profit that are yet earned . This should be…

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A: Journal is the book of original entry in which all of the financial transactions of the business are…

Q: On January 1, 2021, PCO purchased 70% ownership of SCO which resulted to a gain on acquisition of…

A: PCO purchased 70% ownership in SCO.

Q: Sanchez Company acquired inventories on June 1, 2021 from its 60% owned subsidiary, Black…

A: Answer - 229,700

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A: The portion of the period's consolidated profit or loss that is attributable to the parent, net of…

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.