ADVANCED ACCOUNTING
13th Edition
ISBN: 9781264046263
Author: Hoyle
Publisher: MCG
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Chapter 6, Problem 47P
To determine
Prepare a consolidated statement of
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Solve the following questions:The following information was derived from the 2017 consolidated financial statements of Parents Co.,which owns 80% of AAA Co. as well as 40% of BBB Co.:Equity Earnings from BBB Co. $120,000Decrease in Accounts Payable $5,000Increase in Accounts Receivable $10,000Increase in Inventory $20,000Increase in Bonds Payable $40,000Depreciation $20,000Loss on sale of machinery $10,000Carrying value of machinery sold $60,000Dividends received from BBB Co. $10,000Purchase of a building for cash $400,000Goodwill impairment loss $5,000Entity Net Income allocated to non-controlling interest $5,000Consolidated net income allocated to Parent $950,000Dividends paid by Parents Co. $40,000Dividends paid by AAA Co. $12,000The cash balance at the start of 2017 was $200,000.Required:Prepare the consolidated statement of cash flows for Parents Co. for the year ended December 31,2017
Tuchel Company held 80% of the common stock of Chelsea Inc. and 40% of this
subsidiary's convertible bonds. The following consolidated financial statements were
for 2019 and 2020.
2019
2020
$ 1,064,000
( 714,000)
( 126,000)
$ 1,232,000
756,000)
140,000)
28,000
( 42,000)
( 15,400)
$ 306,600
Revenues
Cost of goods sold
Depreciation and amortization
Gain on sale of building
Interest expense
Non-controlling interest
Net income to controlling interest
( 42,000)
( 12,600)
$ 169,400
Retained earnings, January 1
Net Income (from above)
Dividends paid
Retained earnings, December 31
$ 420,000
169,400
( 70,000)
$ 519,400
$ 519,400
306,600
( 140,000)
$ 686,000
$ 112,000
210,000
280,000
896,000
210,000
$ 1,708,000
$ 196,000
196,000
476,000
966,000
203,000
Cash
Accounts receivable
Inventory
Buildings and equipment (net)
Database
Total assets
$ 2,037,000
Accounts payable
Bonds payable
Non-controlling interest in Subsidiary
Common stock
$ (196,000)
(560,000)
( 44,800)
(140,000)
(247,800)
(519,400)
$…
Cheerleader Company held 80% of the common stock of Bad Dog Inc. and 40% of this Rock's convertiblebonds. The following consolidated financial statements were for 2021 and 2022.
2021
2022
Revenues
Cost of Goods Sold
Depreciation & Amortization
Gain on Sale of Building
Interest Expense
Non Controlling Interest
Net Income to Controlling Interest
1,064,000
(714,000)
(126,000)
0
(42,000)
(12,600)
169,400
1,232,000
(756,000)
(140,000)
28,000
(42,000)
(15,400)
306,600
Retained Earnings (1/1/2022)
Net Income (above)
Dividends Paid
Retained Earnings (31/12/2022)
420,000
169,400
(70,000)
519,400
519,400
306,600
(140,000)
686,000
Cash
Accounts Receivable
Inventory
Buildings & Equipment (net)
Database
Total Assets
112,000
210,000
280,000
896,000
210,000
1,708,000
196,000
196,000
476,000
966,000
203,000
2,037,000
Accounts Payable
Bonds Payable
Non-Controlling Interest in Brewer Inc.
Common Stock
Additional Paid-In Capital
Retained Earnings (above)
Total…
Chapter 6 Solutions
ADVANCED ACCOUNTING
Ch. 6 - Prob. 1QCh. 6 - Prob. 2QCh. 6 - When is a firm required to consolidate the...Ch. 6 - Prob. 4QCh. 6 - Prob. 5QCh. 6 - Prob. 6QCh. 6 - Prob. 7QCh. 6 - Prob. 8QCh. 6 - Prob. 9QCh. 6 - Prob. 10Q
Ch. 6 - Prob. 11QCh. 6 - How do noncontrolling interest balances affect the...Ch. 6 - Prob. 13QCh. 6 - Prob. 14QCh. 6 - Prob. 15QCh. 6 - Prob. 16QCh. 6 - Prob. 17QCh. 6 - Prob. 1PCh. 6 - Prob. 2PCh. 6 - Prob. 3PCh. 6 - Prob. 4PCh. 6 - Prob. 5PCh. 6 - Prob. 6PCh. 6 - Problems 7 and 8 are based on the following...Ch. 6 - Prob. 8PCh. 6 - Bens man Corporation is computing EPS. One of its...Ch. 6 - Prob. 10PCh. 6 - Prob. 11PCh. 6 - Prob. 12PCh. 6 - Prob. 13PCh. 6 - Prob. 14PCh. 6 - Prob. 15PCh. 6 - Prob. 16PCh. 6 - On January 1, Coldwater Company has a net book...Ch. 6 - Prob. 18PCh. 6 - Prob. 19PCh. 6 - Prob. 20PCh. 6 - On January 1, 2018, Stamford issues 10,000...Ch. 6 - On January 1, 2018, Stamford reacquires 8,000 of...Ch. 6 - Prob. 23PCh. 6 - Prob. 24PCh. 6 - On December 31, 2017. PanTech Company invests...Ch. 6 - Prob. 26PCh. 6 - Prob. 27PCh. 6 - Prob. 28PCh. 6 - Prob. 29PCh. 6 - Prob. 30PCh. 6 - Prob. 31PCh. 6 - Prob. 32PCh. 6 - Prob. 33PCh. 6 - Prob. 34PCh. 6 - Prob. 35PCh. 6 - Alford Company and its 80 percentowned subsidiary,...Ch. 6 - Prob. 37PCh. 6 - Prob. 38PCh. 6 - Prob. 39PCh. 6 - Prob. 40PCh. 6 - Prob. 41PCh. 6 - Prob. 42PCh. 6 - Prob. 43PCh. 6 - Prob. 44PCh. 6 - Fred, Inc., and Herman Corporation formed a...Ch. 6 - Prob. 46PCh. 6 - Prob. 47PCh. 6 - Prob. 48PCh. 6 - Prob. 49PCh. 6 - Prob. 50PCh. 6 - Prob. 1DYSCh. 6 - Prob. 2DYSCh. 6 - The FASB ASC Subtopic Variable Interest Entities...
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