1) Compute the equity in earnings of Gargiulo reported on Posito's books for 2012, 2013, and 2014.
Homework Answers
| 1) Compute the equity in earnings of Gargiulo reported on Posito's books for 2012, 2013, and 2014 | |||
| 2012 | 2013 | 2014 | |
| Parent's Part of Net Income (Gargiulo's Net Income x 90%) | $ 63,000.00 | $ 76,500.00 | $ 84,600.00 |
| Less: Earnings Adjustment for Unrealized Gains of Subsidiary (Ending Inventory on Posito's Books x 25% x 90%) | $ 270.00 | $ 900.00 | $ 675.00 |
| Add: (Realized Gains of Subidiary for previous year | $ - | $ 270.00 | $ 900.00 |
| Equity in earnings of Gargiulo reported on Posito's books | $ 62,730.00 | $ 75,870.00 | $ 84,825.00 |
| 1) Compute the equity in earnings of Gargiulo reported on Posito's books for 2012, 2013, and 2014 | |||
| 2012 | 2013 | 2014 | |
| Parent's Part of Net Income (Gargiulo's Net Income x 90%) | =70000*90% | =85000*90% | =94000*90% |
| Less: Earnings Adjustment for Unrealized Gains of Subsidiary (Ending Inventory on Posito's Books x 25% x 90%) | =1200*25%*90% | =4000*90%*25% | =3000*90%*25% |
| Add: (Realized Gains of Subidiary for previous year | 0 | =B16 | =C16 |
| Equity in earnings of Gargiulo reported on Posito's books | =B15-B16+B17 | =C15-C16+C17 | =D15-D16+D17 |
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1) Compute the equity in earnings of Gargiulo reported on
Posito's books for 2012, 2013, and...
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2) Compute the non-controlling interest in Gargiulo's net income
for 2012, 2013, and 2014.
Gargiulo Company, a 90% owned subsidiary of Posito Corporation, sells inventory to Posito at a 25% profit on selling price. The following data are available pertaining to intra-entity purchases. Gargiulo was acquired on January 1, 2012. 2012 2013 2014 Purchases by Posito $8,000 $12,000 $15,000 Ending inventory on Posito's books 1,200 4,000 3,000 Assume the equity method is used. The following data are available pertaining to...
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4) For consolidation purposes, what amount would be debited to
January 1 retained earnings for the 2012/2013/2014 consolidation
worksheet entry with regard to the unrealized gross profit of the
prior year’s intra-entity transfer (if any) of merchandise
Gargiulo Company, a 90% owned subsidiary of Posito Corporation, sells inventory to Posito at a 25% profit on selling price. The following data are available pertaining to intra-entity purchases. Gargiulo was acquired on January 1, 2012. 2012 2013 2014 Purchases by Posito $8,000...
3) For consolidation purposes, what amount would be debited to cost of goods sold for the...
3) For consolidation purposes, what amount would be debited to
cost of goods sold for the 2012/2013/2014 consolidation worksheet
with regard to the unrealized gross profit of that year’s
intra-entity transfer of merchandise?
4) For consolidation purposes, what amount would be debited to
January 1 retained earnings for the 2012/2013/2014 consolidation
worksheet entry with regard to the unrealized gross profit of the
prior year’s intra-entity transfer (if any) of merchandise?
Gargiulo Company, a 90% owned subsidiary of Posito Corporation, sells...
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Gargiulo Company, a 90% owned subsidiary of Posito Corporation, sells inventory to Posito at a 25% profit on selling price. The following data are available pertaining to intra-entity purchases. Gargiulo was acquired on January 1, 2012. 2012 2013 2014 Purchases by Posito $8,000 $12,000 $15,000 Ending inventory on Posito's books 1,200 4,000 3,000 Assume the equity method is used. The following data are available pertaining to...
4) For consolidation purposes, what amount would be debited to
January 1 retained earnings for the 2012/2013/2014 consolidation
worksheet entry with regard to the unrealized gross profit of the
prior year’s intra-entity transfer (if any) of merchandise
Gargiulo Company, a 90% owned subsidiary of Posito Corporation, sells inventory to Posito at a 25% profit on selling price. The following data are available pertaining to intra-entity purchases. Gargiulo was acquired on January 1, 2012. 2012 2013 2014 Purchases by Posito $8,000...
3) For consolidation purposes, what amount would be debited to
cost of goods sold for the 2012/2013/2014 consolidation worksheet
with regard to the unrealized gross profit of that year’s
intra-entity transfer of merchandise?
4) For consolidation purposes, what amount would be debited to
January 1 retained earnings for the 2012/2013/2014 consolidation
worksheet entry with regard to the unrealized gross profit of the
prior year’s intra-entity transfer (if any) of merchandise?
Gargiulo Company, a 90% owned subsidiary of Posito Corporation, sells...
2) Compute the amortization of gain through a depreciation
adjustment for 2012/2013/2014 for consolidation purposes. '
3) Compute Wilson's share of income from Simon for consolidation
for 2012, 2013, and 2014
Wilson owned equipment with an estimated life of 10 years when it was acquired for an original cost of $80,000. The equipment had a book value of $50,000 at January 1, 2012. On January 1, 2012, Wilson realized that the useful life of the equipment was longer than originally...
1) Compute the gain on transfer of equipment reported by Wilson
for 2012.
Wilson owned equipment with an estimated life of 10 years when it was acquired for an original cost of $80,000. The equipment had a book value of $50,000 at January 1, 2012. On January 1, 2012, Wilson realized that the useful life of the equipment was longer than originally anticipated, at ten remaining years. On April 1, 2012 Simon Company, a 90% owned subsidiary of Wilson Company,...
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a) What is the retention ratio for 2012, 2013, and 2014?
b) What is the sustainable growth rate for 2012, 2013, and
2014?
c) what is the actual growth rate for 2013 and 2014?
d) what is the equity multiplier for 2012, 2013, and 2014?
Please show formulas.
2014 14,000 71,632 878,000 715,2001,287,3601,716,480 1,946,8022,680,112 836,840 1,468,8002,886,5923,516,952 Balance Sheets 2012 9,000 48,600 2013 7,282 as Short-term investments Accounts receivable Inventory Total Current Assets Net Fixed Assets Total Assets 351,200 632,160 1,124,0001...
How
do you solve for C?
Co. 1. Several years ago Polar Inc, acquired an 80% interest in Icecap Co. The book values of Icecap's asset and liability accounts at that time were considered to be equal to their fair values. Polar's acquisition value corresponded to the underlying book value of Icecap so that no allocations or goodwill resulted from the transaction. The following selected account balances were from the individual financial records of these two companies as of December...
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