Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, Timothy Doupnik

Exercise 29

Maguire Company obtains 100 percent control over Williams Company.Several years after the takeover, consolidated financial statements are being produced.For each of the following accounts, briefly describe the values that should be included in consolidated totals.
a. Equipment.
b. Investment in Williams Company.
c. Dividends Paid.
d. Goodwill.
e. Revenues.
f. Expenses.
g. Common Stock.
h. Net Income.