ACC 407 Week 4 Assignment 8.6, 9.3
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ACC 407 Week 4 Assignment 8.6, 9.3
Part One.
Review the financial information pertaining to the Pali Corporation in problem 8.6 on page 377 of your text. Prepare the following (include any applicable supporting computations in the explanations):
Prepare working paper eliminations (in journal entry format) for Padua Corporation and subsidiary on April 30, 2006, including the minority interest in net income of subsidiary. (Disregard the elimination for the intercompany investment in the subsidiarys common stock; also disregard income taxes.)
Part Two
Review the financial information pertaining to the Paseo Corporation in problem 9.3 on pages 418 and 419 of your text. Prepare the following (include any applicable supporting computations in the explanations):
Prepare journal entries for Presto Corporation to record the business combination with Shuey Company on January 2, 2005, including deferred income taxes.