Business Finance Homework Help

I’m working on a accounting discussion question and need a sample draft to help me learn.

.
A clerk in the accounting department recently entered trial balance data for
the parent company and its subsidiaries in the company’s consolidation
program. After a few minutes of additional work needed to eliminate the
intercompany investment account balances, the clerk expressed his/her
satisfaction with having completed the consolidation worksheet. In
reviewing the printout of the consolidation worksheet, other employees raised
several questions, and you have been asked to respond to them. Indicate
whether each of the following questions can be answered by looking at the data
in the consolidation worksheet or not, and also indicate why or why not.

a.
Is it possible to tell if the parent is using the equity method in recording
its ownership of each subsidiary?

b.
Is it possible to tell if the correct amount of consolidated net income has
been reported?

c.
One of the employees thought the parent company had paid well above the fair
value of net assets for a subsidiary. Is it possible to tell by reviewing
the consolidation worksheet?

d.
Is it possible to determine from the worksheet the percentage ownership of a
subsidiary held by the parent?