Question

Following are several figures reported for Allister and Barone as of December 31, 2018: Allister Barone $ 540,000 s 340,000 1,080,000 880,000 Inventory Sales Investment income Cost of goods sold Operating expenses not given 540,000 440,000 250,000 320,000 Allister acquired 90 percent of Barone in January 2017. In allocating the newly acquired subsidiary's fair value at the acquisition date, Allister noted that Barone had developed a customer list worth $64,000 that was unrecorded on its accounting records and had a 5-year remaining life. Any remaining excess fair value over Barone's book value was attributed to goodwill. During 2018, Barone sells inventory costing $134,000 to Allister for $188,000. Of this amount, 15 percent remains unsold in Allister's warehouse at year-end Determine balances for the following items that would appear on Allister's consolidated financial statements for 2018 Answer is complete but not entirely correct. Inventory Sales Cost of goods sold Operating expenses Net income attributable to noncontrolling Amounts $ 871,900 s 1,772,000 $ 800,100 $ 582,800 $ 37,465 interest

Answer 1

ollowina are ev All and Garone ay of December 3l,iott - Alliptei SH0000 $ 340fO 1,0801000 Invertor Saleg 8o O00 I nvestment Income Sy0,000 140,000 So ooC 320/000 epen *>T0 dletermine balance^ for the follef itemX -teat would appe ση AlltXfey's 6H(000 nta Enttt Gross piokt 188,000 -9134,000 Inve 8100

mount inventorg: - $ 8 ,900 SaleR | 080000ナ宅880000-1 86coo Cot o Goods od S S82,800 Net- Tncome attibut atttrbutale ta $ 14865 ton Controllin nteret ' lge: et income attributable to Lon Conkolting interest : t5% Cseoooo-W0,000 390,000-81 oo-12800 $ . 14865