Maurice Tutor

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About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 1 Day Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 26 Jul 2017 My Price 3.00

Packer Company

On October 1, 2011, Packer Company purchased 90% of the common stock of Shipley Company for $290,000. Additional information for both companies for 2011 follows: PACKER SHIPLEY Common stock $300,000 $90,000 Other contributed capital 120,000 40,000 Retained Earnings, 1/1 240,000 50,000 Net Income 260,000 160,000 Dividends declared (10/31) 40,000 8,000 Any difference between implied and book value relates to Shipley’s land. Packer uses the cost method to record its investment in Shipley. Shipley Company’s income was earned evenly throughout the year. Required: A. Prepare the workpaper entries that would be made on a consolidated statements workpaper on December 31, 2011. Use the full year reporting alternative. B. Calculate the controlling interest in consolidated net income for 2011.

Answers

Maurice Tutor
(5)
Status NEW Posted 26 Jul 2017 04:07 PM My Price 3.00

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