question archive riet And al More P5-38 Subsidiary with Other Comprehensive Income In Year Following Acquisition This problem is actuation of PS-37

riet And al More P5-38 Subsidiary with Other Comprehensive Income In Year Following Acquisition This problem is actuation of PS-37

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riet And al More P5-38 Subsidiary with Other Comprehensive Income In Year Following Acquisition This problem is actuation of PS-37. Pirate Corporation acquired 60 percent ownership of Chip Company on January 1, 20X8, at underlying book value. At that date, the fair value of the depreciation on buildings and equipment was $75,000 on the acquisition date. Trial balance data crolling interests equal to 40 percent of the book value of Ship Company. Accumulated December 31, 20X9, for Pirate and Ship are as follows: Credit Ship Company Debit $ 11,000 21.000 30.000 257.000 44.000 Pirate Corporation Debit Credit 18,000 45.000 40.000 585.000 Item Ac Reco 1 16,400 170,000 30.000 8.000 40,000 97.000 10,000 3,000 20,000 Ement Investments Row Company Securities estetin Ship Company Cost of Good So Deprecation Expense Expone Dividends Decand Acousted Depreciation Accounts Payable Bonds Pablo Common Stock Bened Earnings Accumulated Other Comprehensive income Other Comprehensive Income from Ship Cooch-Unrealized Gain on rivestments Unrated Gain on investments (CI) Salers income from Ship Company $ 170,000 75,000 100,000 200,000 231.000 6,000 2.400 $95.000 24000 50.000 100.000 70.000 10.000 4,000 140.000 250.000 18.000 $1.052,400 $1.052,400 $493.000 $493.000 Additional Information Ship purchased stock of Row Company on January 1, 20X8, for $30,000 and classified the invest- ment as available-for-sale securities. The value of Row's securities increased to $40,000 and S44,000, respectively, at December 31, 20X8, and 20X9. Required a. Give all consolidation entries needed to prepare a three-part consolidation worksheet as of December 31, 20X9. b. Prepare a three-part consolidation worksheet for 20x9 in good form. DE 20 Comeback

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