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9. Wilson Company acquired 10% of Rogers, Inc. on January 1, 2018 for $200,000 und appropriately...
9. Wilson Company acquired 10% of Rogers, Inc. on January 1, 2018 for $200,000 and appropriately...
9. Wilson Company acquired 10% of Rogers, Inc. on January 1, 2018 for $200,000 and appropriately accounted for the investment using the fair-value method. On January 1, 2019 the fair value of Rogers stock was $3,000,000 in total. On January 1, 2019, Wilson also acquired an additional 30% of Rogers for $800,000 which resulted in significant influence over Rogers' operations. Roger's book value on January 1, 2019 was $2,000,000, although they owned a patent that was not recorded on their...
Milani, Inc., acquired 10 percent of Seida Corporation on January 1, 2017, for $200,000 and appropriately...
Milani, Inc., acquired 10 percent of Seida Corporation on January 1, 2017, for $200,000 and appropriately accounted for the investment using the fair-value method. On January 1, 2018, Milani purchased an additional 30 percent of Seida for $644,000 which resulted in significant influence over Seida. On that date, the fair value of Seida's common stock was $1,920,000 in total. Seida's January 1, 2018 book value equaled $1,770,000, although land was undervalued by $138,000. Any additional excess fair value over Seida's...
Milani acquire 10% of Seida Corp. on January 1, 2017, for 190,000 and appropriately accounted for...
Milani acquire 10% of Seida Corp. on January 1, 2017, for 190,000 and appropriately accounted for the investment using the fair-value method. On January1, 2018. Milany purchased an additional 30% of Seida for $600,000 which resulted in significant influence over Seida. On that day, the fair value of Seida's common stock was $2,000,000 in total. Seida's January1, 2018, book value equaled $1,850,000, although land was undervalued by $120,000. Any additional excess fair value over Seida's book value attributable to trademark...
Milani, Inc, acquired 10 percent of Seida Corporation on January 1, 2017, for $192,000 and appropriately...
Milani, Inc, acquired 10 percent of Seida Corporation on January 1, 2017, for $192,000 and appropriately accounted for the investment using the fair-value method. On January 1, 2018, Milani purchased an additional 30 percent of Seida for $638,000 which resulted in significant influence over Seida. On that date, the fair value of Seida's common stock was $1,970,000 in total. Seida's January 1, 2018 book value equaled $1,820,000, although land was undervalued by $139,000. Any additional excess fair value over Seida's...
Advanced Accounting Ch 1 Q 2
Paxton, Inc., acquired 10 percent of Bethlehem Corporation on January 1, Year 10, for $190,000 and appropriately accounted for the investment using the fair-value method. On January 1, Year 11, Paxton purchased an additional 30 percent of Bethlehem for $600,000 which resulted in significant influence over Bethlehem. On that date, the fair value of Bethlehem’s common stock was $2,000,000 in total. Bethlehem’s January 1, Year 11, book value equaled $1,850,000, although land was undervalued by $120,000. Any additional excess fair...
On 1 January 2018, Gamma, Inc. paid $225,000 for a 20 percent interest in Subsidiary Corporation’s...
On 1 January 2018, Gamma, Inc. paid $225,000 for a 20 percent interest in Subsidiary Corporation’s common stock. This investee had assets with a book value of $890,000 and liabilities of $650,000. A patent held by subsidiary having a $55,000 book value was actually worth $200,000. This patent had a 5-year remaining life. Any further excess cost associated with this acquisition was attributed to Goodwill. During 2018, subsidiary earned income of $24,000 and paid dividends of $4,800. In 2019, it...
This is all the information provided: Milani, Inc., acquired 10 percent of Seida Corporation on January...
This is all the information provided:
Milani, Inc., acquired 10 percent of Seida Corporation on
January 1, 2017, for $190,000 and appropriately accounted for the
investment using the fair-value method. On January 1, 2018, Milani
purchased an additional 30 percent of Seida for $600,000 which
resulted in significant influence over Seida. On that date, the
fair value of Seida’s common stock was $2,000,000 in total. Seida’s
January 1, 2018, book value equaled $1,850,000, although land was
undervalued by $120,000. Any...
10. On January 1, 2018, Stream Company acquired 30% of the outstanding voting shares of Q-Video...
10. On January 1, 2018, Stream Company acquired 30% of the outstanding voting shares of Q-Video for $800,000. On that date, Q-Video reported assets and liabilities with book values of $2 million and $750,000, respectively. A customer list developed by Q-Video had an estimated fair value of $300,000, although it was not recorded on Q-Video's books. The expected useful life of this list was 5 years. Any excess remaining cost of Stream's investment over the underlying book value of Q-Video...
Calculate income and investment balance allocation of excess to undervalued assets Dok Company acquired a 30...
Calculate income and investment balance allocation of excess to undervalued assets Dok Company acquired a 30 percent interest in Oak on January 1 for $2,000,000 cash. Assume the cost of the investment equals the fair value of Oak’s net assets. Dok assigned the $500,000 fair value over book value of the interest acquired to the following assets: Inventories $100,000 (sold in the current year) Building $200,000 (4-year remaining life at January 1) Goodwill $200,000 During the year Oak reported net...
On January 1, 2018, Pen Corporation acquired 75% of the outstanding common stock of Sen Company...
On January 1, 2018, Pen Corporation acquired 75% of the outstanding common stock of Sen Company for $450,000. Fair value of noncontrolling interest at the date of acquisition is $116,500. Sen’s stockholders’ equity on January 1, 2018, was as follows: Common stock, $20 par $200,000 Additional paid-in capital 100,000 Retained earnings 100,000 Accumulated OCI 25,000 Differences between book value and fair value of the identifiable net assets of Sen Company on January 1, 2018, were...
9. Wilson Company acquired 10% of Rogers, Inc. on January 1, 2018 for $200,000 and appropriately accounted for the investment using the fair-value method. On January 1, 2019 the fair value of Rogers stock was $3,000,000 in total. On January 1, 2019, Wilson also acquired an additional 30% of Rogers for $800,000 which resulted in significant influence over Rogers' operations. Roger's book value on January 1, 2019 was $2,000,000, although they owned a patent that was not recorded on their...
Milani, Inc, acquired 10 percent of Seida Corporation on January 1, 2017, for $192,000 and appropriately accounted for the investment using the fair-value method. On January 1, 2018, Milani purchased an additional 30 percent of Seida for $638,000 which resulted in significant influence over Seida. On that date, the fair value of Seida's common stock was $1,970,000 in total. Seida's January 1, 2018 book value equaled $1,820,000, although land was undervalued by $139,000. Any additional excess fair value over Seida's...
This is all the information provided:
Milani, Inc., acquired 10 percent of Seida Corporation on
January 1, 2017, for $190,000 and appropriately accounted for the
investment using the fair-value method. On January 1, 2018, Milani
purchased an additional 30 percent of Seida for $600,000 which
resulted in significant influence over Seida. On that date, the
fair value of Seida’s common stock was $2,000,000 in total. Seida’s
January 1, 2018, book value equaled $1,850,000, although land was
undervalued by $120,000. Any...
10. On January 1, 2018, Stream Company acquired 30% of the outstanding voting shares of Q-Video for $800,000. On that date, Q-Video reported assets and liabilities with book values of $2 million and $750,000, respectively. A customer list developed by Q-Video had an estimated fair value of $300,000, although it was not recorded on Q-Video's books. The expected useful life of this list was 5 years. Any excess remaining cost of Stream's investment over the underlying book value of Q-Video...
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