Pisa Inc. paid $1,040,000 to acquire all the common shares of Sienna Ltd., and Sienna Ltd. owes
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Prepare a consolidation worksheet.
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Pisa Inc. Sienna Ltd. Assets Cash Accounts receivable, net Note receivable from Sienna Ltd. Inventory Investment in Sienna Ltd. Property, plant, and equipment, net Total Liabilities and Shareholders' Equity Accounts payable Notes payable Note payable to Pisa Inc. Other liabilities Common shares Retained earnings Total $ 80,000 288,000 120,000 480,000 1,040,000 608,000 $2,616,000 $ 72,000 144,000 388,000 720,000 $1,324,000 $ 192,000 588,000 204,000 880,000 752,000 $2,616,000 $ 128,000 224,000 120,000 12,000 440,000 400,000 $1,324,000
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Horngrens Accounting
ISBN: 978-0133855388
10th Canadian edition Volume 2
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann L. Johnston, Peter R. Norwood
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