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In2012, parent reports Costor Goods Sold of$4,000,000. Its 90% subsidiary reports Cost of Goods Sold of $1,000,000 in 2012. Dud subsidiary had $60,000 of unrealized gains on 2012, the subsidiary had sold $200,000 of goods to its parentando its a unrealized gains. How much is consolidated cost of goods sold in zad 30 6. is consolidated cost of goods sold in 2012 12 the subsidiary had net income Same facts as problem 19. Assume in 2012 the subsi 150,000 What is the in subsidiary net income in 20 noncontrolling interest in subsidiary net income ie of 7. , 2012 is $600,000. On that date Adams sells half of its shares for $250gde journal entry is reconded at that date. 8. owns 80% of Williams and the carrying value of the investment 9. Sane facts as#21 except that Adams sells 20% of its investment fors 000, reducing its ownership to 60%. What journal entry is recorded by Williams date. 10. Harry purchases 80% of David by paying$50 a share for 40,000 of David remaining 10,000 shares of David are held by minority shareholders and are $40 per share both before and after the acquisition. Assume that 100% ofthe FVNAA of David at date of acquisition is $2,200,000. Calculate goodwill b. How much goodwill i llocated to the controlling interest and how much to the noncontrolling interest 11. Felix pays $1,000,000 to acquire 80% of Unger. Assume there is no control premium. At acquisition date the FVNAA of Unger is $1,100,000.Calculate any goodwill or consolidated gain on bargain purchase that is to be recorded in consolidation 12. On January 1, 2010 parent lends its 60% owned subsidiary S2,000,000 at 10% annual interest a. How much interest income is recorded by the parent in 2010 b. How much interest expense is recorded by the subsidiary in 2010 c. How much is consolidated interest income d. How much is consolidated interest expense e. How much is consolidated loan receivable f How much is consolidated loan payable

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