Question: Please find the highlighted numbers for the basic consolidation entry. I forgot to highlight the first row, income from Sword Dist that also need a

 Please find the highlighted numbers for the basic consolidation entry. Iforgot to highlight the first row, income from Sword Dist that alsoneed a number. thanks Prince Corporation holds 75 percent of the common

Please find the highlighted numbers for the basic consolidation entry. I forgot to highlight the first row, income from Sword Dist that also need a number. thanks

Prince Corporation holds 75 percent of the common stock of Sword Distributors Inc., purchased on December 31, 20X1, for $2,220,000. At the date of acquisition, Sword reported common stock with a par value of $940,000, additional paid-in capital of $1,290,000, and retained earnings of $530,000. The fair value of the noncontrolling interest at acquisition was $740,000. The differential at acquisition was attributable to the following items: Inventory (sold in 20X2) Land Goodwill Total Differential $ 50,000 70,000 80,000 $200,000 During 20X2, Prince sold a plot of land that it had purchased several years before to Sword at a gain of $28,000; Sword continues to hold the land. In 20X6, Prince and Sword entered into a five-year contract under which Prince provides management consulting services to Sword on a continuing basis; Sword pays Prince a fixed fee of $92,000 per year for these services. At December 31, 20X8, Sword owed Prince $23,000 as the final 20X8 quarterly payment under the contract. On January 2, 20X8, Prince paid $240,000 to Sword to purchase equipment that Sword was then carrying at $280,000. Sword had purchased that equipment on December 27, 20X2, for $420,000. The equipment is expected to have a total 15-year life and no salvage value. The amount of the differential assigned to goodwill has not been impaired. At December 31, 20X8, trial balances for Prince and Sword appeared as follows: Prince Corporation Debit Item Cash Current Receivables Inventory Investment in Sword Distributors Land Buildings & Equipment Cost of Goods Sold Depreciation & Amortization Other Expenses Dividends Declared Accumulated Depreciation Current Payables Bonds Payable Common Stock Additional Paid-in Capital Retained Earnings, January 1 Sales Other Income or Loss Income from Sword Distributors Total $ 57,700 102,800 295,000 2,900,750 409,000 2,500,000 2,190,000 199,000 1,367,000 48,000 $10,069, 250 Credit $ 1,094,000 87, 200 991,000 85,000 1,266,000 1,470,800 4,828,000 95,000 152, 250 $10,069,250 Sword Distributors Inc. Debit Credit 45,000 90,400 218,900 $ 1,218,000 3,060,000 513,000 76,000 209,000 18,000 32,000 $5,480,300 $ 407,000 311,300 195,000 940,000 1,290,000 1,340,000 997,000 $5,480,300 As of December 31, 20X8, Sword had declared but not yet paid its fourth-quarter dividend of $5,000. Both companies use straight-line depreciation and amortization. Prince uses the fully adjusted equity method to account for its investment in Sword. No A Event 1 Income from Sword Dist. Additional paid-in capital Common stock Retained earnings NCI in NI of Sword Dist. Dividends declared Investment in Sword Dist. NCI in NA of Sword Dist. Answer is not complete. Accounts 33333333 Debit 1,290,000 940,000 1,340,000 Credit 18,000 Prince Corporation holds 75 percent of the common stock of Sword Distributors Inc., purchased on December 31, 20X1, for $2,220,000. At the date of acquisition, Sword reported common stock with a par value of $940,000, additional paid-in capital of $1,290,000, and retained earnings of $530,000. The fair value of the noncontrolling interest at acquisition was $740,000. The differential at acquisition was attributable to the following items: Inventory (sold in 20X2) Land Goodwill Total Differential $ 50,000 70,000 80,000 $200,000 During 20X2, Prince sold a plot of land that it had purchased several years before to Sword at a gain of $28,000; Sword continues to hold the land. In 20X6, Prince and Sword entered into a five-year contract under which Prince provides management consulting services to Sword on a continuing basis; Sword pays Prince a fixed fee of $92,000 per year for these services. At December 31, 20X8, Sword owed Prince $23,000 as the final 20X8 quarterly payment under the contract. On January 2, 20X8, Prince paid $240,000 to Sword to purchase equipment that Sword was then carrying at $280,000. Sword had purchased that equipment on December 27, 20X2, for $420,000. The equipment is expected to have a total 15-year life and no salvage value. The amount of the differential assigned to goodwill has not been impaired. At December 31, 20X8, trial balances for Prince and Sword appeared as follows: Prince Corporation Debit Item Cash Current Receivables Inventory Investment in Sword Distributors Land Buildings & Equipment Cost of Goods Sold Depreciation & Amortization Other Expenses Dividends Declared Accumulated Depreciation Current Payables Bonds Payable Common Stock Additional Paid-in Capital Retained Earnings, January 1 Sales Other Income or Loss Income from Sword Distributors Total $ 57,700 102,800 295,000 2,900,750 409,000 2,500,000 2,190,000 199,000 1,367,000 48,000 $10,069, 250 Credit $ 1,094,000 87, 200 991,000 85,000 1,266,000 1,470,800 4,828,000 95,000 152, 250 $10,069,250 Sword Distributors Inc. Debit Credit 45,000 90,400 218,900 $ 1,218,000 3,060,000 513,000 76,000 209,000 18,000 32,000 $5,480,300 $ 407,000 311,300 195,000 940,000 1,290,000 1,340,000 997,000 $5,480,300 As of December 31, 20X8, Sword had declared but not yet paid its fourth-quarter dividend of $5,000. Both companies use straight-line depreciation and amortization. Prince uses the fully adjusted equity method to account for its investment in Sword. No A Event 1 Income from Sword Dist. Additional paid-in capital Common stock Retained earnings NCI in NI of Sword Dist. Dividends declared Investment in Sword Dist. NCI in NA of Sword Dist. Answer is not complete. Accounts 33333333 Debit 1,290,000 940,000 1,340,000 Credit 18,000

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