accounting homework- due 8 hrs

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Intercompany.xlsx
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Data

Parent Page Formulas Your Score
Bonds purchased Data 3
Face value $600,000 Amort 46
Face rate 10.00% Year 1 70
Market rate 15.00% Year 2 69
Purchase date 1/1/y2 Year 3 65
Maturity date 1/1/y5 Formating 20
Holding Period 3 Key 12
Parent ownership of Subsidiary 75% Courtesy points 18
Investment Balance, 1/1/2017 $1,125,000 File name 10
Zach Total 313 0
Subsidiary Project is worth 125 points Score = 0
Bonds Issued
Face value $1,000,000
Face Rate 10.00%
Market rate 12.00%
Issue date 1/1/y1
Maturity Date 1/1/y5
Life 4
IF statement Gain or loss on retirement of Debt
2 1
Yellow 1 point each
Blue 2 points each

Amortization Schedules

Amortization Schedule - Buyer
Date Interest Revenue Interest Receivable Amortization Face Value Carrying Value
1/1/y1 Zach Present Value Formula 18
12/31/y1
12/31/y2
12/31/y3
Amortization Schedule - Issuer
Date Interest Expense Interest Payable Discount / (Premium) Amortization Discount / (Premium) Balance Face Value Carrying Value
1/1/y0 Zach Present Value Formula 28
12/31/y0
12/31/y1
12/31/y2
12/31/y3

Year 1

70 Parent Subsidiary Consolidation "Entries" Non-Controlling Interest Combined
Zach Dr (Cr) Dr (Cr) Dr Cr Dr (Cr) Dr (Cr)
Income Statement
Revenue -300000 -200000
Interest Revenue B
Interest Expense B
IF Statement Gain or loss on retirement B IF Statement gain or loss on retirement
Equity in Sub Earnings I
Separate Net Income
Consolidated Net Income
Non Controlling Interst in Sub Income
Net Income to Contolling Interest
Statement of Retained Earnings
Retained Earnings 1/1/2017 -2000000
-1500000 S
Net Income
Dividends
Retained Earnings 12/31/2017
Balance Sheet
Other Assets $0 $0
Interest Receivable P
Investment in S S
I
Investment in Bonds B
Total Assets
Interest Payable P
Bonds Payable B
IF statement for Premium or discount on bonds IFstatement premium or discount B IF statement premium or discount
Non Contolling Interest 12/31/2017
Retained Earnings 12/31/2017
Total Liabilities and Equity
3 11 10 10 10 3 23
Legend

Year 2

69 Parent Subsidiary Consolidation "Entries" Non-Controlling Interest Combined
Zach Dr (Cr) Dr (Cr) Dr Cr Dr (Cr) Dr (Cr)
Income Statement
Revenue -300000 -200000
Interest Revenue 555 B
Interest Expense B
Equity in Sub earnings I
Separate Net Income 555
Consolidated Net Income
Non Controlling Interst in Sub Income
Net Income to Contolling Interest
Statement of Retained Earnings
Retained Earnings 1/1/2018
IF statement deferred gain or loss B IF statement deferred gain or loss
S
Net Income
Dividends
Retained Earnings 12/31/2018
Balance Sheet
Other Assets $0 $0
Interest Receivable P
Investment in S S
I
Investment in Bonds B
Total Assets
Interest Payable P
Bonds Payable B
IF statement premium or discount B IF statement premium or discount
Non Contolling Interest 12/31/2018
Retained Earnings 12/31/2018
Total Liabilities and Equity
1 12 11 10 10 3 22
Legend

Year 3

65 Parent Subsidiary Consolidation "Entries" Non-Controlling Interest Combined
Zach Dr (Cr) Dr (Cr) Dr Cr Dr (Cr) Dr (Cr)
Income Statement
Revenue -300000 -200000
Interest Revenue B
Interest Expense B
Equity in Sub earnings I
Separate Net Income
Consolidated Net Income
Non Controlling Interst in Sub Income
Net Income to Contolling Interest
Statement of Retained Earnings
Retained Earnings 1/1/2019
IF statement deferred gain or loss B IF statement deferred gain or loss
S
Net Income
Dividends
Retained Earnings 12/31/2019
Balance Sheet
Other Assets $0 $0
Interest Receivable P
Investment in S S
I
Investment in Bonds B
Total Assets
Interest Payable P
Bonds Payable B
Non Contolling Interest 12/31/2019
Retained Earnings 12/31/2019
Total Liabilities and Equity
1 12 11 8 8 3 22
Legend