Apple acquired 80 percent of Apol on December 31, 2012. Based on the purchase price, goodwill...

 

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Apple acquired 80 percent of Apol on December 31, 2012. Based on the purchase price, goodwill of 300,000 was recognized. The 2013 financial statements are as follows: Sales COGS Operating expenses Dividend income Comprehensive income Retained Earnings, Jan. 1, 2015 CI Dividends paid Retained Earnings, Dec. 31, 2015 Cash and receivables Inventory Investment in Apol Fixed assets Accumulated depreciation Totals Liabilities Common stock Retained earnings Totals Apple 800,000.00 535,000.00 100,000.00 ? ? 1,300,000.00 ? 100,000.00 ? 400,000.00 298,000.00 ? 1,000,000.00 300,000.00 ? 600,000.00 300,000.00 1,405,000.00 2,305,000.00 Apol 600,000.00 400,000.00 100,000.00 100,000.00 850,000.00 100,000.00 50,000.00 900,000.00 300,000.00 700,000.00 600,000.00 200,000.00 1,400,000.00 400,000.00 100,000.00 900,000.00 1,400,000.00 Apple sells inventory costing 72,000 to Apol during 2012 for 120,000. At year end, 30 percent is left. Apple sells inventory costing 200,000 to Apol during 2013 for 250,000. At year end, 20 percent is left. How much will be the equity of the non-controlling interest in the consolidated balance sheet at December 31, 2013? * Apple acquired 80 percent of Apol on December 31, 2012. Based on the purchase price, goodwill of 300,000 was recognized. The 2013 financial statements are as follows: Sales COGS Operating expenses Dividend income Comprehensive income Retained Earnings, Jan. 1, 2015 CI Dividends paid Retained Earnings, Dec. 31, 2015 Cash and receivables Inventory Investment in Apol Fixed assets Accumulated depreciation Totals Liabilities Common stock Retained earnings Totals Apple 800,000.00 535,000.00 100,000.00 ? ? 1,300,000.00 ? 100,000.00 ? 400,000.00 298,000.00 ? 1,000,000.00 300,000.00 ? 600,000.00 300,000.00 1,405,000.00 2,305,000.00 Apol 600,000.00 400,000.00 100,000.00 100,000.00 850,000.00 100,000.00 50,000.00 900,000.00 300,000.00 700,000.00 600,000.00 200,000.00 1,400,000.00 400,000.00 100,000.00 900,000.00 1,400,000.00 Apple sells inventory costing 72,000 to Apol during 2012 for 120,000. At year end, 30 percent is left. Apple sells inventory costing 200,000 to Apol during 2013 for 250,000. At year end, 20 percent is left. How much will be the equity of the non-controlling interest in the consolidated balance sheet at December 31, 2013? *

Answer rating: 100% (QA)

Comprehensive Income for Apple Sales 800000 COGS 535000 Operating Expenses 100000 Dividend Income 10... View the full answer