Consolidation Worksheet f

Consolidation Worksheet for the Year Ending Dec (Equity Method) Parrot Sun Income Statement Revenues 1,500,000 400,000 -COGS 700,000 232,000 -Amort. Expense 120,000 32,000 -Depreciation Expense Net Income 80,000 600,000 36,000 100,000 Statement of RE RE 1/1/2017 Net Income Dividends declared RE 12/31/2017 840,000 600,000 120,000 1,320,000 380,000 100,000 40,000 440,000 Balance Sheet Current Assets Investment in Sun Trademarks Patents Net Equipment Goodwill Total assets Liabilities Common Stock APIC – Common RE 12/31/2017 NCI Total Liabilities and SE 1,040,000 ? 600,000 370,000 250,000 0 ? 980,000 640,000 120,000 1,320,000 0 ? ? 0 ? ? ? 0 0 ? 200,000 20,000 380,000 0 ? heet for the Year Ending Dec 31st 2017 Consolidation Entries Parrot obtains 80% of the outstandi Parrott acquires this stock for $800, on Dec 31st 2017 are shown below: Consolidated Totals Current Assets Trademarks Patents Net Equipment Liabilities Prepare the Consolidation Workshe ns 80% of the outstanding common stock of Sun Company on Dec 31st 2017. ires this stock for $800,000 cash. Sun company’s asset and liability balances 2017 are shown below: Book Values Fair Values 320,000 320,000 200,000 220,000 320,000 450,000 180,000 150,000 420,000 420,000 Consolidation Worksheet for the year ending Dec 31st 2017