Bennett acquired 70 percent of Zeigler on June 30, 2012, for $910,000 in cash. Based on Zeigler's
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Bennett sold Zeigler inventory costing $72,000 during the last six months of 2012 for $120,000. At year-end, 30 percent remained. Bennett sells Zeigler inventory costing $200,000 during 2013 for $250,000. At year-end, 20 percent is left. With these facts, determine the consolidated balances for the accounts:
Sales
Cost of Goods Sold
Operating Expenses
Dividend Income
Noncontrolling Interest in Consolidated Income
Inventory
Noncontrolling Interest in Subsidiary, 12/31/13
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Related Book For
Fundamentals of Advanced Accounting
ISBN: 978-0077667061
5th edition
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik
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