ACT4491 Advanced Accounting problems

On January 1 2019 Parent acquired a 70% interest in Sub for a purchase price that was 450000 over the book value of Sub’s Stockholders’ Equity on the date of acquisition. The acquisition date AAP of 500000 was assigned as 350000 to a Patent (useful life 10 years) and 150000 to Goodwill. Financial reports on December 31 2025 indicate a beginning balance in Stockholders’ Equity of 841000 (Common Stock 92100; APIC 308900 and Retained Earnings 440000). Sub’s net income for the period ending December 31 2015 was 56000. Sub paid dividends of 10000 during that period. Sub regularly sells inventory to Parent with sales of 305000 in 2024 and 500000 in 2025. Deferred gross profit was 22913 and 24000 in 2024 and 2025 respectively. (Make sure you read the year right.) a.What is the NCI income for the period ending December 31 2015? b.What is the amount of unamortized AAP on December 31 2025? c.What was the ending balance in the non controlling equity? d.For the period ending December 31 2015 and as a result of inventory sales from Sub to Parent the elimination entries will include an increase (debit) in COGS of_____? e.For the period ending December 31 2025 and as a result of inventory sales from Sub to Parent the elimination entries will include a decrease(credit) in COGS of _____? f. On December 31 2025 the consolidated balance sheet will show a balance in Patent of _________? g. On January 1 2025 (beginning of the year) the balance in the investment account would be _______. (This is the balance in the Equity Investment account prior to any eliminating entries.) Requirements: In pages need explanation for each question guide me to figure the series questions out. ‘

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