Question: the current solutions on chegg are different from this one GE 4 Bolero Company holds 80 percent of the common stock of Rivera, Inc, and

 the current solutions on chegg are different from this one GE

4 Bolero Company holds 80 percent of the common stock of Rivera,

the current solutions on chegg are different from this one

GE 4 Bolero Company holds 80 percent of the common stock of Rivera, Inc, and 40 percent of this subsidiary's convertible bonds. The following consolidated financial statements are for 2014 and 2015: Bolero Company and Consolidated Subsidiary Rivera 2014 s ( (970,000) (1,100,000) Revenues Cost of goods sold Depreciation and amortization Gain on sale of building Interest expense 664,000 148,000 (44,000) 54,000 624,000 114,000 54,000 (178,000) Consolidated net income (278,000) 35,000 to noncontrolling interest 33,000 to parent company s (145,000) $ $ (243,000) Retained earnings, 1/1 Net income Dividends declared $(324,000) (395,000) (243,000) 124,000 (145,000) 74,000 Retained earnings, 12/31 s (395,000) (514,000) S 104,000 198,000 224,000 664,000 198,000 $ 208,000 164,000 388,000 738,000 169,000 Cash Accounts receivable Buildings and equipment (net) Databases Total assets 1,388,000 1,667,000 Accounts payable Bonds payable Noncontrolling interest in Rivera Common stock Additional paid-in capital Retained earnings $ (188,000) 424,000) (56,000) (124,000) (201,000) (395,000) (124,000) (548,000) (75,000) (154,000) (252,000) (514,000) Total liabilities and equities (1,388,000) $(1,667,000)

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!