Homework Answers
2. $955,000
Inventory in Consolidated balance sheet $955,000
($700,000 + $255,000)
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Vader Company purchased 100 percent of the common shares of Skywalker Company by issuing shares of...
Is this correct? Vader Company purchased 100 percent of the common shares of Skywalker Company by...
Is this correct?
Vader Company purchased 100 percent of the common shares of Skywalker Company by issuing shares of common stock valued at $900,000. Selected accounts from Vader's balance sheet at the date of combination are as follows: Inventory $700,000 1,400,000 Building and Equipment (net) Common Stock 840,000 Retained Earnings 2,000,000 Selected accounts from the balance sheet of Skywalker at acquisition are as follows: Inventory $200,000 Building and Equipment (net) Common Stock Additional Paid-In Capital 900,000 450,000 450,000 Retained Earnings...
Is this none of the above? Vader Company purchased 100 percent of the common shares of...
Is this none of the above?
Vader Company purchased 100 percent of the common shares of Skywalker Company by issuing shares of common stock valued at $900,000. Selected accounts from Vader's balance sheet at the date of combination are as follows: Inventory $700,000 Building and Equipment (net) 1,400,000 Common Stock 840,000 Retained Earnings 2,000,000 Selected accounts from the balance sheet of Skywalker at acquisition are as follows: Inventory $200,000 Building and Equipment (net) 900,000 450,000 Common Stock Additional Paid-In Capital...
QUESTION 2 Use the following fact pattern for questions 1 through 5: Black Company purchased 100...
QUESTION 2 Use the following fact pattern for questions 1 through 5: Black Company purchased 100 percent of the common shares of White Company by issuing shares of common stock valued at $900,000. Selected accounts from Black's balance sheet at the date of combination are as follows: $720,000 1,000,000 840,000 1,100,000 Inventory Building and Equipment (net) Stock Retained Earnings Selected accounts from the balance sheet of White at acquisition are as follows: Inventory Building and Equipment (net) $200,000 900,000 450,000...
1. On 12/31, Choco acquired all assets and liabilities of Cake by issuing 40,000 shares of...
1. On 12/31, Choco acquired all assets and liabilities of Cake by issuing 40,000 shares of its common stock when the market value (=fair value) is $32/share and this combination is a statutory merger (Cake was dissolved). Choco has common stock with $15 par, 50,000 shares outstanding and Cake has $5 par, 60,000 shares outstanding Choco Book Values Cake Book Values Cake Fair Values Cash and Receivable 350,000 180,000 170,000 Inventories 250,000 100,000 150,000 Land 700,000 120,000 240,000 Building and...
3. Consolidated Balances (35 points) Parent Company acquires a subsidiary by issuing 100,000 common shares with...
3. Consolidated Balances (35 points) Parent Company acquires a subsidiary by issuing 100,000 common shares with a market value of $25 per share for all of the subsidiary's common stock. The subsidiary's assets and liabilities were recorded at fair values with the exception of equipment undervalued by $225,000. In addition, there were two unrecorded assets: a trademark valued at $175,000 and a customer list valued by the subsidiary at $60,000. The balance sheets of the parent and subsidiary immediately after...
Parent Company acquires a subsidiary by issuing 100,000 common shares with a market value of $25...
Parent Company acquires a subsidiary by issuing 100,000 common shares with a market value of $25 per share for all of the subsidiary's common stock. The subsidiary's assets and liabilities were recorded at fair values with the exception of equipment undervalued by $225,000. In addition, there were two unrecorded assets: a trademark valued at $175,000 and a customer list valued by the subsidiary at $60,000. The balance sheets of the parent and subsidiary immediately after the acquisition are presented below:...
2. On 12/31, Choco acquired Cake by issuing 40,000 shares of its common stock when the...
2. On 12/31, Choco acquired Cake by issuing 40,000 shares of its common stock when the market value (=fair value) is $32/share. Cake will remain incorporated. Choco has common stock with $15 par, 50,000 shares outstanding and Cake has $5 par, 60,000 shares outstanding Choco Book Values Cake Book Values Cake Fair Values Cash and Receivable 350,000 180,000 170,000 Inventories 250,000 100,000 150,000 Land 700,000 120,000 240,000 Building and equipment 600,000 600,000 900,000 Patented technology 100,000 0 60,000 Accounts Payable...
On December 31, 2019, Purple Company purchased 80% of the common stock of Sage Company for...
On December 31, 2019, Purple Company purchased 80% of the common stock of Sage Company for $1,300,000. On this date, Sage had total owners' equity of $650,000 (common stock $100,000; other paid-in capital, $250,000; and retained earnings, $300,000). Any excess of cost over book value is due to the under or overvaluation of certain assets and liabilities. Assets and liabilities with differences in book and fair values are provided in the following table: Book Fair Value Value...
1. On 12/31, Choco acquired all assets and liabilities of Cake by issuing 40,000 shares of...
1. On 12/31, Choco acquired all assets and liabilities of Cake by issuing 40,000 shares of its common stock when the market value (=fair value) is $32/share and this combination is a statutory merger (Cake was dissolved). Choco has common stock with $15 par, 50,000 shares outstanding and Cake has $5 par, 60,000 shares outstanding Choco Book Values Cake Book Values Cake Fair Values Cash and Receivable 350,000 180,000 170,000 Inventories 250,000 100,000 150,000 Land 700,000 120,000 240,000 Building and...
On January 1, 20X2, Plend Corporation acquired all of Stork Corporation's assets and liabilities by issuing...
On January 1, 20X2, Plend Corporation acquired all of Stork Corporation's assets and liabilities by issuing shares of its common stock. Partial balance sheet data for the companies prior to the business combination and immediately following the combination are as follows: Plend Corp. Stork Corp. Book Value Book Value Combined Entity Assets Cash $ 40,000 $ 10,000 $ 50,000 Accounts Receivable 60,000 30,000 88,000 Inventory 50,000 35,000 96,000 Buildings & Equipment (net) 300,000 110,000 430,000 Goodwill ? Total Assets $...
Is this correct?
Vader Company purchased 100 percent of the common shares of Skywalker Company by issuing shares of common stock valued at $900,000. Selected accounts from Vader's balance sheet at the date of combination are as follows: Inventory $700,000 1,400,000 Building and Equipment (net) Common Stock 840,000 Retained Earnings 2,000,000 Selected accounts from the balance sheet of Skywalker at acquisition are as follows: Inventory $200,000 Building and Equipment (net) Common Stock Additional Paid-In Capital 900,000 450,000 450,000 Retained Earnings...
Is this none of the above?
Vader Company purchased 100 percent of the common shares of Skywalker Company by issuing shares of common stock valued at $900,000. Selected accounts from Vader's balance sheet at the date of combination are as follows: Inventory $700,000 Building and Equipment (net) 1,400,000 Common Stock 840,000 Retained Earnings 2,000,000 Selected accounts from the balance sheet of Skywalker at acquisition are as follows: Inventory $200,000 Building and Equipment (net) 900,000 450,000 Common Stock Additional Paid-In Capital...
QUESTION 2 Use the following fact pattern for questions 1 through 5: Black Company purchased 100 percent of the common shares of White Company by issuing shares of common stock valued at $900,000. Selected accounts from Black's balance sheet at the date of combination are as follows: $720,000 1,000,000 840,000 1,100,000 Inventory Building and Equipment (net) Stock Retained Earnings Selected accounts from the balance sheet of White at acquisition are as follows: Inventory Building and Equipment (net) $200,000 900,000 450,000...
3. Consolidated Balances (35 points) Parent Company acquires a subsidiary by issuing 100,000 common shares with a market value of $25 per share for all of the subsidiary's common stock. The subsidiary's assets and liabilities were recorded at fair values with the exception of equipment undervalued by $225,000. In addition, there were two unrecorded assets: a trademark valued at $175,000 and a customer list valued by the subsidiary at $60,000. The balance sheets of the parent and subsidiary immediately after...
Parent Company acquires a subsidiary by issuing 100,000 common shares with a market value of $25 per share for all of the subsidiary's common stock. The subsidiary's assets and liabilities were recorded at fair values with the exception of equipment undervalued by $225,000. In addition, there were two unrecorded assets: a trademark valued at $175,000 and a customer list valued by the subsidiary at $60,000. The balance sheets of the parent and subsidiary immediately after the acquisition are presented below:...
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