Property and equipment and identifiable intangibles revaluations are written off on a straight-line basis. no residual...

 

 

 

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Property and equipment and identifiable intangibles revaluations are written off on a straight-line basis. no residual value. Additional goodwill impairment losses of $400,000 are reported in 2021. Except for the inventories, none of the revalued assets are sold in future years. Required Prepare consolidation climinating entries (R) and (0) on ZZ # (0) December 31, 2020. December 31, 2023 December 31 2028 Amortization expense. Impairment loss...……... Inventories TRIME Property and equipment, net Cost of goods sold Depreciation expens Identifiable intangib Goodwill. SE M DININ PEREKON ENTRINI INTERE SES DHE DISORDE *******K ****** ******* *** ***** 600,000 200,000 500,000 1,000,000 500,000 1,000,000 600,000 200,000 LO 1,2,4 E4.9 Projecting Consolidation Eliminating Entries An acquisition takes place on January 1, 2018 At December 31, 2018, you observe the following consolidation eliminating entries (89 Identifiable intangibins Land Goodwill Inventories Property and pr vestment in Semson Company 3.000.000 2.000.000 15,000,000 500,000 10,000,000 9,500.000 continued 1 ENTRY R 2 Account 3 Identifiable Intangibles 4 Land 5 Goodwill 6 7 8 9 10 ENTRY O 11 Amortization Expense 12 Impairment Loss 13 Inventories 14 Property, Plant, and Equipment 15 Cost of Goods Sold 16 Depreciation Expense Identifiable Intangibles 18 Goodwill 67 Inventories Property, Plant & Equipment Investment in Sampson 17 80 19 2018 Debit 3,000,000 2,000,000 15,000,000 600,000 200,000 500,000 1,000,000 Credit 500,000 10,000,000 9,500,000 500,000 1,000,000 600,000 200,000 Debit 2019 Cre Property and equipment and identifiable intangibles revaluations are written off on a straight-line basis. no residual value. Additional goodwill impairment losses of $400,000 are reported in 2021. Except for the inventories, none of the revalued assets are sold in future years. Required Prepare consolidation climinating entries (R) and (0) on ZZ # (0) December 31, 2020. December 31, 2023 December 31 2028 Amortization expense. Impairment loss...……... Inventories TRIME Property and equipment, net Cost of goods sold Depreciation expens Identifiable intangib Goodwill. SE M DININ PEREKON ENTRINI INTERE SES DHE DISORDE *******K ****** ******* *** ***** 600,000 200,000 500,000 1,000,000 500,000 1,000,000 600,000 200,000 LO 1,2,4 E4.9 Projecting Consolidation Eliminating Entries An acquisition takes place on January 1, 2018 At December 31, 2018, you observe the following consolidation eliminating entries (89 Identifiable intangibins Land Goodwill Inventories Property and pr vestment in Semson Company 3.000.000 2.000.000 15,000,000 500,000 10,000,000 9,500.000 continued 1 ENTRY R 2 Account 3 Identifiable Intangibles 4 Land 5 Goodwill 6 7 8 9 10 ENTRY O 11 Amortization Expense 12 Impairment Loss 13 Inventories 14 Property, Plant, and Equipment 15 Cost of Goods Sold 16 Depreciation Expense Identifiable Intangibles 18 Goodwill 67 Inventories Property, Plant & Equipment Investment in Sampson 17 80 19 2018 Debit 3,000,000 2,000,000 15,000,000 600,000 200,000 500,000 1,000,000 Credit 500,000 10,000,000 9,500,000 500,000 1,000,000 600,000 200,000 Debit 2019 Cre

Answer rating: 100% (QA)

R O Consolidation elimination entries on December 31 2... View the full answer