Homework Answers
In the given example they have asked detailed as on 31/12/2010 which is same as acquisition date. 80% shares acquired.
Following Net Assets of Subsidiary Blake's,
Ans 1.
Point no. 5
Ans 2
Point no. 5
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QUESTION 1 Use the following fact pattern for questions 1 through 2: Hueske Company purchased 80...
1. Questions 1 & 2 are based on the following information. Polypipe Company acquired 80% of...
1. Questions 1 & 2 are based on the following information. Polypipe Company acquired 80% of Svedex Company's votings The noncontrolling interest had an estimated fair value of $20,000. Some of dex's identifiable assets and liabilities at the date of acquisition had fair values that were different from reported values, as follows: Property, net Licensing agreements Book Value $ 6,000 1,000 Fair Value $4,000 25,000 Svedex's total shareholders' equity at the date of acquisition was as follows: bles for Paul...
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...
On January 1, 2021, Ackerman Company acquires 80% of Seidel Company for $1,917,440 in cash consideration....
On January 1, 2021, Ackerman Company acquires 80% of Seidel Company for $1,917,440 in cash consideration. The remaining 20 percent noncontrolling interest shares had an acquisition-date estimated fair value of $479,360. Seidel's acquisition-date total book value was $1,904,000. The fair value of Seidel's recorded assets and liabilities equaled their carrying amounts. However, Seidel had two unrecorded assets, a trademark with an indefinite life and estimated fair value of $274,400 and several customer relationships estimated to be worth $201,600 with four-year...
13 On January 1, 2021, Ackerman Company acquires 80% of Seidel Company for $1,848,960 in cash...
13 On January 1, 2021, Ackerman Company acquires 80% of Seidel Company for $1,848,960 in cash consideration. The remaining 20 percent noncontrolling interest shares had an acquisition-date estimated fair value of $462,240. Seidel's acquisition-date total book value was $1,836,000. 10 points The fair value of Seidel's recorded assets and liabilities equaled their carrying amounts. However, Seidel had two unrecorded assets- a trademark with an indefinite life and estimated fair value of $264,600 and several customer relationships estimated to be worth...
Polypipe Company acquired 80% of Svedex Company's voting stock for $95,000 in cash. The noncontrolling interest...
Polypipe Company acquired 80% of Svedex Company's voting stock for $95,000 in cash. The noncontrolling interest had an estimated fair value of $20,000. Some of Svedex's identifiable assets and liabilities at the date of acquisition had fair values that were different from reported values, as follows: Book Value Fair Value Property, net $ 6,000 $ 4,000 Licensing agreements 1,000 25,000 Svedex's total shareholders' equity at the date of acquisition was as follows: Capital stock $5,000 Retained deficit (400) Treasury stock...
On January 1, Patterson Corporation acquired 80 percent of the 100,000 outstanding voting shares of Soriano,...
On January 1, Patterson Corporation acquired 80 percent of the 100,000 outstanding voting shares of Soriano, Inc., in exchange for $31.25 per share cash. The remaining 20 percent of Soriano's shares continued to trade for $30 both before and after Patterson's acquisition At January 1, Soriano's book and fair values were as follows: Remaining Life Current assets Buildings and equipment Trademarks Patented technology Values $ 80,000 1,000,000 900,000 2,000,000 5 years 10 years 4 years Book Values 80,000 1,250,000 700,000...
Date of Acquisition Consolidation Eliminating Entries, Bargain Purchase Peregrine Company acquired 80 percent of Sparrow Company's...
Date of Acquisition Consolidation Eliminating Entries, Bargain Purchase Peregrine Company acquired 80 percent of Sparrow Company's common stock for $20,000,000 in cash fees paid to an outside firm to estimate the earning power of Sparrow and the fair values of its properties amounted to $2.500,000. Sparrow's equity consisted of $3,000,000 in capital stock, 525.000.000 in retained earnings $1,500,000 in accumulated other comprehensive loss, and $500.000 in treasury stock. Book values of Sparrow's identifiable assets and is approximated their fair values...
Protec Company acquired 75% of Sussex Company's voting stock for $30,000 in cash. The noncontrolling interest...
Protec Company acquired 75% of Sussex Company's voting stock for $30,000 in cash. The noncontrolling interest had an estimated fair value of $9,500. Some of Sussex's identifiable assets and liabilities at the date of acquisition had fair values that were different from reported values, as follows: Book Value Fair Value Property, net $ 2,000 $ 7,000 Identifiable intangibles 0 20,000 Sussex's total shareholders' equity at the date of acquisition was as follows: Capital stock $ 1,000 Retained earnings 3,000 Accumulated...
On January 1, 2014, Woody Company acquires 80% of the outstanding common stock of Buzz, for...
On January 1, 2014, Woody Company acquires 80% of the outstanding common stock of Buzz, for a purchase price of $785,000. It was determined that the fair market value of the noncontrolling interest in the subsidiary is $190,000. The book value of the Buzz’s stockholders’ equity on the date of acquisition is $500,000 and its fair market value of identifiable tangible and intangible assets is $900,000. The excess fair market value over book value is allocated $200,000 to equipment with...
On January 1, 2018, Strait Corp. purchased 100% of the outstanding common stock of Amarillo Company....
On January 1, 2018, Strait Corp. purchased 100% of the outstanding common stock of Amarillo Company. On the date of the acquisition, Amarillo’ identifiable net assets had fair values that approximated their recorded book values. The acquisition resulted in no goodwill. Strait Corp. uses the cost method to account for its investment in Amarillo Company. The following financial statement information is for Amarillo Company for the year ended December 31, 2019: 2019 2018 Revenues $100,000 $120,000 Expenses 47,000 65,000 Net...
1. Questions 1 & 2 are based on the following information. Polypipe Company acquired 80% of Svedex Company's votings The noncontrolling interest had an estimated fair value of $20,000. Some of dex's identifiable assets and liabilities at the date of acquisition had fair values that were different from reported values, as follows: Property, net Licensing agreements Book Value $ 6,000 1,000 Fair Value $4,000 25,000 Svedex's total shareholders' equity at the date of acquisition was as follows: bles for Paul...
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...
On January 1, 2021, Ackerman Company acquires 80% of Seidel Company for $1,917,440 in cash consideration. The remaining 20 percent noncontrolling interest shares had an acquisition-date estimated fair value of $479,360. Seidel's acquisition-date total book value was $1,904,000. The fair value of Seidel's recorded assets and liabilities equaled their carrying amounts. However, Seidel had two unrecorded assets, a trademark with an indefinite life and estimated fair value of $274,400 and several customer relationships estimated to be worth $201,600 with four-year...
13 On January 1, 2021, Ackerman Company acquires 80% of Seidel Company for $1,848,960 in cash consideration. The remaining 20 percent noncontrolling interest shares had an acquisition-date estimated fair value of $462,240. Seidel's acquisition-date total book value was $1,836,000. 10 points The fair value of Seidel's recorded assets and liabilities equaled their carrying amounts. However, Seidel had two unrecorded assets- a trademark with an indefinite life and estimated fair value of $264,600 and several customer relationships estimated to be worth...
On January 1, Patterson Corporation acquired 80 percent of the 100,000 outstanding voting shares of Soriano, Inc., in exchange for $31.25 per share cash. The remaining 20 percent of Soriano's shares continued to trade for $30 both before and after Patterson's acquisition At January 1, Soriano's book and fair values were as follows: Remaining Life Current assets Buildings and equipment Trademarks Patented technology Values $ 80,000 1,000,000 900,000 2,000,000 5 years 10 years 4 years Book Values 80,000 1,250,000 700,000...
Date of Acquisition Consolidation Eliminating Entries, Bargain Purchase Peregrine Company acquired 80 percent of Sparrow Company's common stock for $20,000,000 in cash fees paid to an outside firm to estimate the earning power of Sparrow and the fair values of its properties amounted to $2.500,000. Sparrow's equity consisted of $3,000,000 in capital stock, 525.000.000 in retained earnings $1,500,000 in accumulated other comprehensive loss, and $500.000 in treasury stock. Book values of Sparrow's identifiable assets and is approximated their fair values...
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