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Make a journal entries for the parent company

Make a journal entries for the parent company

Accounting Information Systems
Accounting Information Systems
10th Edition
ISBN:9781337619202
Author:Hall, James A.
Publisher:Hall, James A.
Chapter1: The Information System: An Accountant’s Perspective
Section: Chapter Questions
Problem 2P
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Make a journal entries for the parent company

Asynchronous Activity 3.xlsx - Excel Sign in File Home Insert Page Layout Formulas Data Review View Help O Tell me what you want to do 8 Share > AutoSum v Calibri - 11 A A ab Wrap Text Custom V Fill v Sort & Find & Filter v Select v Paste BI U-E Conditional Format as Cell Insert Delete Format E E E Merge & Center $ • % > .00 Clear Formatting Table Styles v Clipboard Font Alignment Number Styles Cells Editing D23 fe =+D17+D21 A B D E F G H K M N P Assume that AAA Co. plans to acquire XYZ Co. As its subsidiary on April 30, 2022. 4 Below are the statements of financial position of the two companies before the acquisition is made: 5 6 AAA Co. and XYZ Co. Statement of financial position 8 April 30, 2022. 7 9 10 AAA Co. XYZ Co. 11 Assets 12 Current Assets 13 Cash 725,300 250,125 14 Trade Receivables 1,200,100 650,375 15 Inventory 850,500 711,000 16 Prepayments 120,000 15,000 17 Total Current Assets 2,895,900 1,626,500 18 Non-current Assets 19 Equipment (net) 1,950,000 639,250 20 Other Assets 210,000 150,000 21 Total Non-current Assets 2,160,000 789,250 23 Total Assets 5,055,900 2,415,750 24 25 Liabilities and Equity 2. Data 3. Calculation of Excess 4. Journal - Parent 5. Journal - Eliminating Entry 6. Wo ... ... Ready + 100% 11:07 PM 5/13/2022
Transcribed Image Text:Asynchronous Activity 3.xlsx - Excel Sign in File Home Insert Page Layout Formulas Data Review View Help O Tell me what you want to do 8 Share > AutoSum v Calibri - 11 A A ab Wrap Text Custom V Fill v Sort & Find & Filter v Select v Paste BI U-E Conditional Format as Cell Insert Delete Format E E E Merge & Center $ • % > .00 Clear Formatting Table Styles v Clipboard Font Alignment Number Styles Cells Editing D23 fe =+D17+D21 A B D E F G H K M N P Assume that AAA Co. plans to acquire XYZ Co. As its subsidiary on April 30, 2022. 4 Below are the statements of financial position of the two companies before the acquisition is made: 5 6 AAA Co. and XYZ Co. Statement of financial position 8 April 30, 2022. 7 9 10 AAA Co. XYZ Co. 11 Assets 12 Current Assets 13 Cash 725,300 250,125 14 Trade Receivables 1,200,100 650,375 15 Inventory 850,500 711,000 16 Prepayments 120,000 15,000 17 Total Current Assets 2,895,900 1,626,500 18 Non-current Assets 19 Equipment (net) 1,950,000 639,250 20 Other Assets 210,000 150,000 21 Total Non-current Assets 2,160,000 789,250 23 Total Assets 5,055,900 2,415,750 24 25 Liabilities and Equity 2. Data 3. Calculation of Excess 4. Journal - Parent 5. Journal - Eliminating Entry 6. Wo ... ... Ready + 100% 11:07 PM 5/13/2022
Asynchronous Activity 3.xlsx - Excel Sign in File Home Insert Page Layout Formulas Data Review View Help O Tell me what you want to do 8 Share ΣΑυtoSum > AutoSum v Calibri - 11 A A ab Wrap Text Custom V Fill v Sort & Find & Filter v Select v Paste BI U-E Conditional Format as Cell Insert Delete Format E E E Merge & Center $ • % > .00 Clear Formatting Table Styles v Clipboard Font Alignment Number Styles Cells Editing D23 fe =+D17+D21 A В F G H K M N P 21 Total Non-current Assets 2,160,000 789,250 23 Total Assets 5,055,900 2,415,750 24 25 Liabilities and Equity 26 Liabilities 27 Current Liabilities 28 Trade Payables 911,000 305,620 29 Loan Payable -current portion 250,000 30 Total Current Liabilities 1,161,000 305,620 31 Non-Current Liability 32 Loan Payable -non-current portion 750,000 33 Total Non-current Liabilities 750,000 35 Total Liabilities 1,911,000 305,620 36 37 Equity 38 Common Stock 2,000,000 1,500,000 39 Additional Paid-in Capital 800,000 450,000 40 Retained Earnings 344,900 160,130 41 Total Equity 3,144,900 2,110,130 43 Total Liabilities and Equity 5,055,900 2,415,750 44 2. Data 3. Calculation of Excess 4. Journal - Parent 5. Journal - Eliminating Entry 6. Wo ... ... Ready + 100% 11:08 PM 5/13/2022
Transcribed Image Text:Asynchronous Activity 3.xlsx - Excel Sign in File Home Insert Page Layout Formulas Data Review View Help O Tell me what you want to do 8 Share ΣΑυtoSum > AutoSum v Calibri - 11 A A ab Wrap Text Custom V Fill v Sort & Find & Filter v Select v Paste BI U-E Conditional Format as Cell Insert Delete Format E E E Merge & Center $ • % > .00 Clear Formatting Table Styles v Clipboard Font Alignment Number Styles Cells Editing D23 fe =+D17+D21 A В F G H K M N P 21 Total Non-current Assets 2,160,000 789,250 23 Total Assets 5,055,900 2,415,750 24 25 Liabilities and Equity 26 Liabilities 27 Current Liabilities 28 Trade Payables 911,000 305,620 29 Loan Payable -current portion 250,000 30 Total Current Liabilities 1,161,000 305,620 31 Non-Current Liability 32 Loan Payable -non-current portion 750,000 33 Total Non-current Liabilities 750,000 35 Total Liabilities 1,911,000 305,620 36 37 Equity 38 Common Stock 2,000,000 1,500,000 39 Additional Paid-in Capital 800,000 450,000 40 Retained Earnings 344,900 160,130 41 Total Equity 3,144,900 2,110,130 43 Total Liabilities and Equity 5,055,900 2,415,750 44 2. Data 3. Calculation of Excess 4. Journal - Parent 5. Journal - Eliminating Entry 6. Wo ... ... Ready + 100% 11:08 PM 5/13/2022
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