Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, Timothy Doupnik

تمرين 46

Problems 17 through 19 should be viewed as independent situations.They are based on the following data:
Chapman Company obtains 100 percent of Abernethy Company's stock on January 1, 2011.As of that date, Abernethy has the following trial balance:
During 2011, Abernethy reported income of $80,000 while paying dividends of $10,000.During 2012, Abernethy reported income of $110,000 while paying dividends of $30,000.
Assume that Chapman Company acquired Abernethy's common stock for $500,000 in cash.Assume that the equipment and long-term liabilities had fair values of $220,000 and $120,000, respectively, on the acquisition date.Chapman uses the initial value method to account for its investment.Prepare consolidation worksheet entries for December 31, 2011, and December 31, 2012.