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As of January 1, 20x1
ABC Co. XYZ, Inc. WPE Consolidated
Assets
Cash 41,000 67,750 108,750
Accounts Receivable 75,000 22,000 97,000
Inventory 97,000 10,400 8,000 115,400
Investment in Subsidiary (at cost) 75,000 -75,000 --
Equipment 200,000 50,000 10,000 260,000
Accumulated Depreciation (60,000) (20,000) -2,000 (82,000)
TOTAL ASSETS 428,000 130,150 (59,000) 499,150
PARENT'S BOOK
Depreciation Expense
Sales (upstream)
just BV to FV
Inventory 8,000
Equipment 10,000
Accumulated Dep'n 2,000
Investment in Subs 12,800
NCI 3,200
pairment of Goodwill
***no impairment Computation of Retained Earnings, XYZ
XYZ Retained Earnings, Jan 1
minate Dividend Income Add: Net Income
***no dividend declared Less: Dividends declared (SQUEEZED)
XYZ Retained Earnings, Dec 31
74,000
16,000 90,000
3,000
24,000
26,150
red (SQUEEZED) -
50,150