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Given the financial statement information for Yewess and its 80%-owned foreign subsidiary, Zar Corporation, determine the Investment Income (Equity Method) from Zar (on Yewess' books), Noncontrolling interest in Zar Net Income, Consolidated Net Income and more...

** (See attached file for full problem description) **

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Part 3.

Given the following TRANSLATED financial statement information for Yewess and its 80%-owned foreign subsidiary, Zar Corporation:

Yewess Zar
Sales Revenue 400,000 180,000
Cost of Goods Sold 250,000 120,000
Operating Expenses 60,000 27,000
Other Expenses 33,000 14,000
Dividends Paid 15,000 4,000

Note: Yewess' sales revenue includes NO income recognized from its ownership of Zar.
Required: determine the following:

Investment Income (Equity Method) from Zar (on Yewess' books):

Noncontrolling interest in Zar Net Income

Consolidated Net Income

Part 4.

Uss Corporation and its 90% owned foreign subsidiary Forko Corporation, had consolidated net income of $90,000 (US) for 2006. Uss's tax rate is 40%.

The following information refers to the cumulative translation adjustment amounts on Forko's balance sheets for 1/1/06 and 12/31/06:

cumulative translation adjustment, 1/1/06 = 3,000 (adds to Forko's total liabilities and equity)
cumulative translation adjustment, 12/31/06 = -1,800 (subtracts from Forko's total liabilities and equity)

Required: determine the following:

[1] item of (consolidated) comprehensive income, 2006:
[2] consolidated comprehensive income, 2006:
Part 5.

At 12/31/06 ASU Corporation and its 80% owned subsidiary RAZ Corporation had the following condensed, translated balance sheet results (expressed as standalone companies):

ASU RAZ
Total Assets 142,000 70,600
Total Liabilities 40,000 21,000
Contributed Capital 70,000 33,000
Retained Earnings 32,000 18,000
Cumulative Translation Adjustment -1,400

Included in ASU's total assets is a balance of $62,000 in its Investment in Raz account. Goodwill of $20,000 was recognized in consolidation at the date ASU acquired its 80% interest in Raz.
Also in consolidation the Noncontrolling Interest totaled $9,000.
Required: determine the following:

Consolidated Total Assets

Consolidated Total Liabilities

Consolidated Total Stockholder Equity
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