h. Prepare a consolidation worksheet as of December 31, 20X9. Computation of Con

Question

h. Prepare a consolidation worksheet as of December 31, 20X9. Computation of Consolidated Totals Bunker Corporation owns 80 percent of Harrison Company's stock. At the end of P6-28 20X8, Bunker and Harrison reported the following partial operating results and inventory balances: Harrison Corporation Company $510,000 Bunker Total sales Sales to Harrison Company Sales to Bunker Corporation Net income Operating income (excluding investment income from Harrison) Inventory on hand, December 31, 20X8, purchased from: $660,000 140,000 240,000 20,000 70,000 Harrison Company Bunker Corporation 48,000 42,000 Bunker regularly prices its products at cost plus a 40 percent markup for profit. Harrison prices its sales at cost plus a 20 percent markup, The total sales reported by Bunker and Harrison include both intercompany sales and sales to nonaffiliates.

Explanation / Answer

Computation of consolidated totals :

Consolidated = $520000 + $270000 = $790000

(a)Consolidated sales for 20X8 Bunker corp. Harrison Co. Total sales $660000 $510000 Incorporate sales (140000) (240000) Sales to non affiliates $520000 $270000

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