Question: #3 & #4 please 1. D. UL. DULU prepare the worksheet. Assume goodwill has been reviewed and there is no goodwill impairment, Problem #3.(15.points) Sato

#3 & #4 please #3 & #4 please 1. D. UL. DULU prepare the worksheet. Assume

1. D. UL. DULU prepare the worksheet. Assume goodwill has been reviewed and there is no goodwill impairment, Problem #3.(15.points) Sato Corp. owns 90% of Beltran Co. Sato uses the equity method to account for its investments. During 2021, Sato sells inventory to Beltran for $540,000. The inventory originally cost Sato $375,000. At December 31, 2021, 30% of the goods were still in Beltran's inventory Required: Prepare the Consolidation Entry TI and Consolidation Entry G for the consolidation worksheet. Problem #4 (15. points) Reyes Corp. owned 70% of the voting common stock of Lee Co. During 2021, Lee sold a parcel of land to Reyes. The land had a book value of S87.000 and was sold to Reyes for $138.000. Lee's reported net income for 2021 was $127,000. Required: Assuming there are no other intra-entity transactions nor excess amortizations, what was the net income attributable to the noncontrolling interest of Lee? Problem #5 (15 points)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Hello question 40 for this file and the answer is $372,850. but i try to get this answer but i couldnot it find the way if you explain to me if you explain to me ?? ch4 1. For business combinations...

Q:

I have questions in page 44 m/c from 35 to 64 if you explain to me the answers for company pell ch4 1. For business combinations involving less than 100 percent ownership, the acquirer recognizes and...

Q:

See attached file. Please show all work. 1. Gargiulo Company, a 90% owned subsidiary of Posito Corporation, sells inventory to Posito at a 25% profit on selling price. The following data are...

Q:

I: Multiple Choice 1. On January 1, 2009, Dermot Company purchased 15% of the voting common stock of Horne Corp. On January 1, 2011, Dermot purchased 28% of Horne's voting common stock. If Dermot...

Q:

Hi! I need help for this assignment, please let me know if WEEK 6 WILEYCPA Ownership of 51% of the outstanding voting stock of a company would usually result in The use of the cost method. The use of...

Q:

Can you all show me the step by step work to help me calculate parts A, B, C, D, E, F, and G that make up the Guidelines and Rubric for this excel workbook assignment, please? This way, I can...

Q:

I have a attached a copy of the data used to answer the question Prepare a 2007 classified balance sheet and multistep income statement. Use the account balances from the unadjusted trial balance and...

Q:

On January 1, 2016, Peoria Corporation acquired 100% of Sand?s Corporation for $2,220,000 by paying $600,000 in cash and issuing 9,000 shares of Peoria common stock (fair value $180). In this...

Q:

only question 2.. plz help me.. im offering all my credits. i swear... Faculty of Business, Economics & Accounting Department of Accounting and Finance HELP Bachelor of Business (Hons) Year 3...

Q:

Meek's Penguin Corp. (MPC) is a Canadian company that reports its financial results in accordance with IFRS. On December 31, 20X6, MPC paid $720,000 cash to acquire 70% of Zoebug Supply Inc.'s (ZSI)...

Q:

Suppose that a box has its faces parallel to the coordinate planes and the points (4, 2, 2) and (6, 1, 1) are endpoints of a diagonal. Sketch the box and give the coordinates of the remaining six...

Q:

A cylindrical tank contains 4.0 kg of carbon monoxide at - 45oC has an inner diameter of 0.2 m and a length of 1 m. Using the RG model (L-K charts), determine the pressure exerted by the gas.

Q:

Treasury bills are assumed to have a beta of _ _ _ _ _ . 0 1 rf E ( rM ) - rf Submit

Q:

Which factor should influence the organizational pattern you choose? the number of section headings in your document your document's length your readers' expectations All responses are correct.

Q:

=+1. How would you describe content marketing? What distinct characteristics of content marketing do social media professionals need to know?

Q:

=+3. You are at a networking social media event at SXSW, and you are asked by a social media strategist about your thoughts on content marketing and why it is important for social media campaigns....

Q:

=+4. As part of your entry exam for consideration for a social media position, you have been asked to critique three influencers and analyze their social media accounts. Identify three things to look...