On January 1, 2017 Preibus acquired 100 % of Spicer. This acquisition was not a bargain...
On January 1, 2017 Preibus acquired 100 % of Spicer. This acquisition was not a bargain purchase. On the date of acquisition, Spicer's Equipment had a net book value of 1,600,000 and a fair value of 1,435,082. Preibus determined that Spicer's equipment had a remaining life of 5 years at the date of acquisition.
What is the consolidation adjustment (in addition to adding the two trial balance amounts together) that must be made to the Equipment account when preparing consolidated statements for Preibus as of 12/31/2017 ?
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On January 1, 2017 Preibus acquired 100 % of Spicer. This
acquisition was not a bargain...
Sanders acquired 100% of Clinton on January 1, 2017. The transaction was not a bargain purchase....
Sanders acquired 100% of Clinton on January 1, 2017. The transaction was not a bargain purchase. On the date of the acquisition, Clinton's Building account had a net book value of 3,973,264 and a fair value of 4,186,268. As of 1/1/2017, Clinton's buildings have a remaining life of 10 years and are depreciated on a straight-line basis with no salvage value. When preparing Sanders' consolidated financial statements for 2017, what AAP adjustment must be made for Depreciation expense?
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Koch acquired 100% of O'Bannon on January 1, 2016. The transaction was not a bargain purchase....
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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 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 ?
Lowell Co. acquired 100% of Boston, Inc. on January 1, 2017. On that date, Boston had...
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Lowell Co. acquired 100% of Boston, Inc. on January 1, 2017. On that date, Boston had...
Lowell Co. acquired 100% of Boston, Inc. on January 1, 2017. On that date, Boston had land with a book value of $42,000 and a fair value of $52,000. Also, on the date of acquisition, Boston had a building with a book value of $200,000 and a fair value of $390,000. Boston had equipment with a book value of $350,000 and a fair value of $280,000. Both companies use the same depreciation policy, that the building had a 10-year remaining...
On January 1, 2016 Ringling acquired 100% of Trump. The transaction was not a bargain purchase....
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On December 18, 2017, Stephanie Corporation acquired 100 percent of a Swiss company for 4.0 million...
On December 18, 2017, Stephanie Corporation acquired 100 percent
of a Swiss company for 4.0 million Swiss francs (CHF), which is
indicative of book and fair value. At the acquisition date, the
exchange rate was $1.00 = CHF 1. On December 18, 2017, the book and
fair values of the subsidiary’s assets and liabilities were:
Cash
CHF
814,000
Inventory
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Property, plant & equipment
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Notes payable
(2,128,000
)
Stephanie prepares consolidated financial statements on December
31, 2017. By that...
On December 18, 2017, Stephanie Corporation acquired 100 percent
of a Swiss company for 4.0 million Swiss francs (CHF), which is
indicative of book and fair value. At the acquisition date, the
exchange rate was $1.00 = CHF 1. On December 18, 2017, the book and
fair values of the subsidiary’s assets and liabilities were:
Cash
CHF
814,000
Inventory
1,314,000
Property, plant & equipment
4,014,000
Notes payable
(2,128,000
)
Stephanie prepares consolidated financial statements on December
31, 2017. By that...
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