this is a partial adjusted trial balance of barone company
this is a partial adjusted trial balance of barone company
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Following are several figures reported for Allister and Barone as of December 31, 2015: |
Allister | Barone | |||
Inventory | $ | 550,000 | $ | 350,000 |
Sales | 1,100,000 | 900,000 | ||
Investment income | not given | |||
Cost of goods sold | 550,000 | 450,000 | ||
Operating expenses | 255,000 | 325,000 | ||
Allister acquired 90 percent of Barone in January 2014. In allocating the newly acquired subsidiaryâs fair value at the acquisition date, Allister noted that Barone had developed a customer list worth $66,000 that was unrecorded on its accounting records and had a six-year remaining life. Any remaining excess fair value over Baroneâs book value was attributed to goodwill. During 2015, Barone sells inventory costing $135,000 to Allister for $190,000. Of this amount, 20 percent remains unsold in Allisterâs warehouse at year-end. |
Determine balances for the following items that would appear on Allisterâs consolidated financial statements for 2015:
|
Following are several figures reported for Allister and Barone as of December 31, 2015:
Allister | Barone | |||
Inventory | $ | 630,000 | $ | 430,000 |
Sales | 1,260,000 | 1,060,000 | ||
Investment income | not given | |||
Cost of goods sold | 630,000 | 530,000 | ||
Operating expenses | 295,000 | 365,000 | ||
Allister acquired 80 percent of Barone in January 2014. In allocating the newly acquired subsidiaryâs fair value at the acquisition date, Allister noted that Barone had developed a customer list worth $82,000 that was unrecorded on its accounting records and had a five-year remaining life. Any remaining excess fair value over Baroneâs book value was attributed to goodwill. During 2015, Barone sells inventory costing $143,000 to Allister for $206,000. Of this amount, 15 percent remains unsold in Allisterâs warehouse at year-end. |
Determine balances for the following items that would appear on Allisterâs consolidated financial statements for 2015:
inventory:
Sales:
Cost of goods sold:
Operating expenses
Net income to noncontrolling interest: