Entries for Consolidation of Intercorporate Investments
Not what you're looking for?
Please help. I'm trying to follow the examples in the text book, however I'm not sure I'm on the right track. Please help with step-by-step on how the journal entries should be made.
See the attached file.
Purchase this Solution
Solution Summary
The solution examines entries for consolidation of intercorporate investments.
Solution Preview
Required A
Pooling: Entry basis is book value of Wheal Company
DR: Investment in Wheal Company* $160,000
CR: Capital stock** 110,000
CR: Other contributed capital*** 15,000
CR: Retained earnings**** 35,000
*Book value of net assets: 250,000-30,000-20,000-40,000=160,000
**issued by Axel
***Total paid in: 100,000+25000 = 125,000
125,000-110,000=15,000
****Retained earnings: balancing figure
Purchase: ...
Purchase this Solution
Free BrainMass Quizzes
SWOT
This quiz will test your understanding of the SWOT analysis, including terms, concepts, uses, advantages, and process.
Marketing Management Philosophies Quiz
A test on how well a student understands the basic assumptions of marketers on buyers that will form a basis of their marketing strategies.
MS Word 2010-Tricky Features
These questions are based on features of the previous word versions that were easy to figure out, but now seem more hidden to me.
Introduction to Finance
This quiz test introductory finance topics.
Academic Reading and Writing: Critical Thinking
Importance of Critical Thinking