Part 1 Why must the eliminating entries be entered in the consolidated worksheet each time consolidation statements are prepared?How is the beginning-of-period non-controlling interest balance determined?How is the end-of-period non-controlling interest balance determined?Which of the subsidiaries accounts must be eliminated?Which of the parent company’s accounts must be eliminated? Research a company that has an equity investment in a company and summarize the effect that the consolidation had on the income statement and balance sheet of the parent. Part 2 Standard Company has a relatively high profit margin on its sales and Jewel Company has a substantially lower profit margin. Standard holds 55% of Jewel’s common stock and includes Jewel Company in its consolidated financial statements. Standard and Jewel reported sales of $100,000 and $60,000 respectively, in 2018. Sales increased in 2019 to $120,000 and $280,000. The average profit margin of the two companies remained constant over the two years at 60% and 10% respectively. Sarah, a Standard executive, was aware that the subsidiary was awarded a major new contract in 2019 and anticipated a substantial increase in net income for the year. She was disappointed to learn that the consolidated net income allocated to the non-controlling interest had increased to 38% even though sales were 2.5 times higher than in in 2018. She is not trained in accounting and does not understand the fundamental processes for preparing consolidated income statements. Based on this weeks reading and weekly lecture: Prepare a memo to Sarah explaining how consolidated net income is computed and the procedures used to allocate income to the parent company and the non-controlling interest. The memo should contain quotes from authoritative literature.Prepare an analysis showing the income statement amounts actually reported for 2018 and 2019

You'll start with using historical income statements and build a ten year forecast using the information (attached in the document) in Lecture 2. This probably sounds easier than it is. I would suggest that you start with the unit growth (compounded) and forecast the units first. From there you have to calculate what you will charge per unit for general revenue and guess what you want to do with Management revenue. From here, you'll need to decide what expenses are fixed and what are variable and how the forecast should be calculated.Remember that in this case that the units are driving the forecast.

It is a business law calss/ Read the 10 cases attached Instructions: Decide each case using the following formula:Issue (ask a question)Rule of law (state the law that applies)Reasoning (why does the law apply to these facts)Decision