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[answered] ACC 4303 Fall 2016 Excel Spreadsheet Project 20 points poss


Pinarello Inc. buys 70% of Schwinn Inc. common stock on January 1, 2011 for $520,000 The fair value of Schwinn net assets equals the book values except for ????????????? Inventory with a fair value $30,000 more than book value. Inventory costs are recorded on a FIFO basis

Equipment with? a fair value $110,000 more than book value. Equipment has a remaining life of 10 years The noncontrolling interest in the fair value of net assets = $222,000


I NEED THE CALCULATION FOR THE RESULT OF TWO THE YELLOW BOX IN THE EXCEL. THANKS SO MUCH


ACC 4303 Fall 2016 Excel Spreadsheet Project

 

20 points possible to be included in your course point total

 

E-mailed to Professoremailaddress@uhd.edu as an excel attachment

 

Subject line MUST be: ACC 4303 excel project

 

The subject line sends the project into a folder for me to grade

 

I will only grade projects that go into this folder

 

REQUIREMENTS:

 

Create a December 31, 2011 three-part consolidation Excel spreadsheet workpaper

 

based on the information given below

 

Your spreadsheet should be similar to Figure 5-7 p 218 of our 9th ediion textbook

 

For your consolidation workpaper Excel spreadsheet, you should

 

1 -- prepare necessary December 31, 2011 eliminating entries, separate from the worksheet

 

include all necessary support work for your eliminating entry amounts

 

Determine any goodwill or gain on acquisition and any identifiable net asset differentials

 

related to the original acquisition of Schwinn common stock

 

2 -- determine the missing amounts from the given trial balances

 

3 -- create the appropriate columns and rows in the colsolidation workpaper

 

4 -- import trial balance data pulled from the given trial balances, do NOT copy numbers

 

5 -- create appopriate formulas for any numerical calculations

 

do NOT copy totals from other sources

 

6 -- import the eliminating entry data into the worksheet, do NOT copy numbers

 

with references to the eliminating entry from which the data was imported

 

7 -- create appropriate formulas for the balances in the consolidation column

 

Assessment; 1/2 based on Excel skills

 

& 1/2 on correct consolidation process with documentation

 

you will be assessed on the following items:

 

1 -- correct data entered

 

data and headings are accurate and located in the appropriate cells.

 

data is entered correctly

 

2 -- formulas are correct and accessible

 

autosum, appropriate use of parenthses, and other functions are correct

 

all the formulas used are applied correctly

 

3 -- column headings and labels

 

column headings are formatted in bold

 

all the data is formatted correctly, including applying bold

 

to the appropriate headings and labels

 

4 -- titles are merged and centered

 

titles are merged, centered, underlined, and bold

 

5 -- spreadsheet formatting and printing

 

correct print area and print features showing

 

reveal formulas functions used

 

column widths allow for complete viewing of the contents

 

correct print area, gridlines, row & columns headings features INFORMATION:

 

Pinarello Inc. buys 70% of Schwinn Inc. common stock on January 1, 2011 for $520,000

 

The fair value of Schwinn net assets equals the book values except for

 

Inventory with a fair value $30,000 more than book value

 

Inventory costs are recorded on a FIFO basis

 

Equipment with a fair value $110,000 more than book value

 

Equipment has a remaining life of 10 years

 

The noncontrolling interest in the fair value of net assets = $222,000 Account

 

Cash

 

Accounts Receivable

 

Inventory

 

Land

 

Buildings & Equipment

 

Accumulated Depreciation

 

Investment in Schwinn Stock

 

Accounts Payable

 

Bonds Payable

 

Common Stock

 

Retained Earnings

 

Dividends Declared & Paid

 

Sales

 

Income from Schwinn

 

Cost of Goods Sold

 

Depreciation Expense

 

Other Expenses

 

Totals Trial Balances

 

31-Dec-11

 

all numbers in 000's

 

Pinarello Inc.

 

Debit

 

Credit

 

188

 

196

 

286

 

322

 

1,400

 

560 Schwinn Inc.

 

Debit

 

Credit

 

120

 

100

 

150

 

120

 

1,200

 

640 310

 

600

 

1,000

 

288 120

 

280

 

420

 

180 160 20

 

800 390

 

70

 

40

 

3,052 3,558 for you to determine! 400

 

282

 

38

 

10

 

2,040 2,040

 


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