Ex. 203
The separate statements of financial position of Platt Company and its wholly owned subsidiary, Speer Company, as of the date of acquisition are shown below:
Consolidated
Assets Platt Speer Data
Equipment (net) $ 300,000$ 486,000
Investment in Speer Co. 810,000
Inventory 100,000 300,000
Accounts Receivable 240,000 283,000
Cash 170,000 57,000
Totals $1,620,000 $1,126,000
Liabilities and Equity
Share Capital-Ordinary1,000,000 630,000
Retained Earnings 250,000 180,000
Bonds Payable 120,000 150,000
Accounts Payable 250,000 166,000
Totals $1,620,000 $1,126,000
Instructions
Provide the amount that should appear in the Consolidated Data column for each of the selected accounts. If the account should not appear in the Consolidated Data column, indicate "None." Assume that all accounts have normal balances and that Speer Company shares were acquired for cash at a price equal to its book value.