My question is attached (Problem 5 4) Along with the excel


Question Description:

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My question is attached (Problem 5 4) Along with the excel spreadsheet that needs to be filled out. Need any more information please let me know. lsomers_Week05Problem_050914.xls Prob 5-4 D&D A 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 B C D E F G H Book Value Market Value Life Problem 5-4 Intercompany Bonds Common Information Ownership interest Price paid (including direct acquisition costs) Year of consolidation (1 = year of purchase) 80% 350,000 2 Stackner Company’s Balance Sheet before Purchase Book Value Market Value Life Priority assets: Total priority assets – – Total liabilities 0 – – Stockholders’ equity: Common stock Paid-in capital in excess of par Retained earnings Total equity Net Assets 0 0 – Nonpriority assets: Total nonpriority assets Total assets – Intercompany Merchandise Information: Parent Sales Parent % Period Interest Amount Group Total Subsidiary Sales Ownership Portion Subsidiary % Current year sales Unpaid account balance, year end Beginning inventory Ending inventory Intercompany Bonds Information: Period of parent purchase: Subsidiary interest expense Parent Interest revenue Zone Analysis Priority accounts Nonpriority accounts 0 0 0 0 Price Analysis Price = Assign to priority accounts Assign to nonpriority accounts Goodwill Extra-ordinary gain Allocation Tables Nonpriority accounts Total Goodwill Extraordinary gain Cumulative Total 350,000 0 Market Percent – 0 0 full value Available Assign – Total adjustments 350,000 – 350,000 Amortization – Page 1 – – – – 80.00% Adjust – Determination and Distribution of Excess Schedule Price paid for investment: Less book value interest acquired: Common stock Paid-in capital in excess of par Retained earnings Total equity Interest acquired Excess of cost over book value (debit) Adjustments: Book – – Prob 5-4 Schedules A 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 B C D E F G Life Annual Amount Current Year Prior Years Total Key Parent Amount Parent % Parent Profit Sub Amount Sub % Sub Profit DR CR Problem 5-4 Amortization Schedules Year of consolidation Account adjustments To be amortized 2 Total amortizations Intercompany Inventory Profit Deferral Beginning Ending Income distribution schedules: Subsidiary: Internally generated net income Gain/loss on bond retirement Interest adjustment, bonds Total NCI share Controlling share Parent Internally generated net income Controlling share of subsidiary Amortizations Total Consolidated net income Page 2 Prob 5-4 Worksheet A 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 B C D E F G H I J K Consol Net Inc. NCI Control. R.E. Consol. Bal. Sht. Problem 5-4 (concluded) Year of consolidation Cash Accounts receivable Inventory Land Investment in Stackner Investment in Stackner Bonds Buildings Accumulated depreciation – bldgs. Equipment Accumulated depreciation – equip. Goodwill Accounts payable Bond payable Discount (Premium) 2 Trial Balance Packard Stackner 71,070 32,032 90,000 60,000 100,000 30,000 150,000 45,000 385,738 100,775 500,000 (300,000) 200,000 (100,000) (55,000) – Common stock – Stackner Paid-in capital in excess of par – Stackner Retained earnings – Stackner Eliminations Dr 250,000 (70,000) 120,000 (84,000) (25,000) (100,000) 1,640 (10,000) (90,000) (145,000) Common stock – Packard Paid-in capital in excess of par – Packard Retained earnings- Packard (100,000) (600,000) (400,000) Sales Cost of goods sold (600,000) 410,000 (220,000) 120,000 30,000 15,000 110,000 10,000 12,000 45,000 8,328 Depr. expense -building Depr. expense – equipment Other expenses Interest expense Interest revenue Subsidiary income Div. Declared – Stackner Div. Declar

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