first picture is information for the second picture. thank you!! ...

50.1K

Verified Solution

Question

Accounting

first picture is information for the second picture. thank you!! image
image
acquisition-date fuir values. On the date of acquisition, Son reported the following: GashInventoryPlantAssteta(not)PropertyTotalAssets$350,000100,000320,000500,000$1,270,000 Curront Ilabjution Common stack Potained Earninge Total Litabilitius and Equity $120,000 too.000 3,0270,0001,050,000 +1,270,000 During the year Son Incorporate roported \$310,000 in net income and declared $15,000 in dividends. Parent Compary reporied $520,000 in net iscome and dactarud $25,000 in dividends. Parent accounts for their investment using the equity metlod. What is the basic consolidation entry Parent would use in the consolidation worksheet on December 31,202 ? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students