On January 1, 2016 Ringling acquired 100% of Trump. The transaction was not a bargain purchase....
On January 1, 2016 Ringling acquired 100% of Trump. The transaction was not a bargain purchase. One the date of the acquisition, the fair value of the Trump's Notes Receivable due 12/31/2020 was -67,249 and the book value was -73,623. For simplicity, discounts on Notes receivable are amortized on a straight-line basis.
What AAP adjustment must be made to the Interest Income account when preparing Ringling's income statement for 2018 ?
Homework Answers
Answer:
January 2016 Ringing Acquire 100% of Trump
interest income of the receivable is =-73623 -(-67249) =6374/-
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On January 1, 2016 Ringling acquired 100% of Trump. The
transaction was not a bargain purchase....
On January 1, 2016 Ringling acquired 100% of Trump. The transaction was not a bargain purchase....
On January 1, 2016 Ringling acquired 100% of Trump. The transaction was not a bargain purchase. On the date of the acquisition, the fair value of the Trump's Notes Payable due 12/31/2020 was -57,861 and the book value was -63,969. For simplicity, discounts on Notes payable are amortized on a straight-line basis. What AAP adjustment must be made to the Notes Payable account when preparing Ringling's consolidated balance sheet as of 12/31/2018 ?
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On January 1, 2017 Preibus acquired 100 % of Spicer. This acquisition was not a bargain...
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On July 1, 2016, Schumer acquired 100% of Mitchell. The transaction was not a bargain purchase. On December 31, 2016 the balance of Schumer's Common stock account was $-201,589 and the balance of Mitchell's Common stock account was $-70,764. What amount must be reported on the Schumer's consolidated balance sheet as of 12/31/2016?
Biden acquired 100% of Cain on January 1, 2016 for $3,562,203. The book value of the...
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