Question: Please help ASAP I need a detailed explanation step-by step. If you can not do that, plese do not respond. Thank you. ACC 4100 Final

Please help ASAP

I need a detailed explanation step-by step. If you can not do that, plese do not respond.

Please help ASAP I need a detailed explanation step-by step. If you

can not do that, plese do not respond. Thank you. ACC 4100

Thank you.

ACC 4100 Final Exam Review Questions Questions 1-11 are based on the following: Presented below are selected amounts from the separate unconsolidated financial statements of Pechena Corp. and its 90%-owned subsidiary, Shalashova Co., at December 31, 2010. Pechena Shalashova Selected income statement amounts Sales Cost of goods sold Gain on sale of equlpment Equity in subsidiary net income Depreciation Amortization 720,000 $540,000 400,000 200,000 90,000 30,000 40,000 5,000 2,000 Selected balance sheet amounts Cash Inventories Patent (10 year remaining useful life) Equipment Accumulated depreciation Investment in Shalashova Common stock Additional paid-in capital Retained earnings 60,000 230,000 50,000 500,000 20,000 160,000 18,000 400,000 (200,000) (100,000) (400,000) 200,000) (300,000) (50,000) 400,000 (150,000) ACC 4100 Final Exam Review Questions Questions 1-11 are based on the following: Presented below are selected amounts from the separate unconsolidated financial statements of Pechena Corp. and its 90%-owned subsidiary, Shalashova Co., at December 31, 2010. Pechena Shalashova Selected income statement amounts Sales Cost of goods sold Gain on sale of equlpment Equity in subsidiary net income Depreciation Amortization 720,000 $540,000 400,000 200,000 90,000 30,000 40,000 5,000 2,000 Selected balance sheet amounts Cash Inventories Patent (10 year remaining useful life) Equipment Accumulated depreciation Investment in Shalashova Common stock Additional paid-in capital Retained earnings 60,000 230,000 50,000 500,000 20,000 160,000 18,000 400,000 (200,000) (100,000) (400,000) 200,000) (300,000) (50,000) 400,000 (150,000)

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!