1. Explain why this securitization for accounting treatment as sale.
2. Compute the amounts of total assets retained after this secuiritization (round 2 decimal places)
3. Compute the amounts of total assets and retained earnings if this securitization did not qualify for accounting treatment as a sale (round 2 decimal places).
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1. Explain why this securitization for accounting treatment as sale. 2. Compute the amounts of total...
ADVANCED ACCOUNTING CHAPTER 5-PART II On January 1, 2017, Panther, Inc., issued securities with a total fair value of $605,000 for 100 percent of Stark Corporation's outstanding ownership shares. Stark has long supplied inventory to Panther. The companies expect to achieve synergies with production scheduling and product development with this combination Although Stark's book value at the acquisition date was $337,000, the fair value of its trademarks was assessed to be $70,000 more than their carrying amounts. Additionally, Stark's patented...
1. At December 31, Year 1, the accounting records of Braun Corporation contain the following items: Accounts Payable $ 13,500 Accounts Receivable $ 35,000 Land $ 235,000 Cash ? Capital Stock ? Equipment $ 115,000 Building $ 175,000 Notes Payable $ 185,000 Retained Earnings $ 155,000 If Capital Stock is $315,000, total assets of Braun Corporation at December 31, Year 1, amounts to: Multiple Choice $668,500. $703,500. $98,500. 2. At December 31, Year 1, the accounting records of Braun Corporation...
Please find the answers and show how to solve: At December 31. Year 1, the accounting records of Braun Corporation contain the following items: 10 $ 11,000 $ 230,000 30,000 Accounts Payable Land Capital Stock Building Retained Earnings Accounts Receivable Cash Equipment Notes Payable $ 170,000 $ 150,000 $ 110,000 $ 180,000 cBook If Cash at December 31, Year 1, is $56,000, total assets amounts to: Multiple Choice $607.000 $746.000 Ο Ο Ο Ο $566,000. $596,000 At December 31, Year...
Compute these amounts for BlueberryBlueberry: 1. Total assets 2. Total liabilities 3. Net income or loss during NovemberNovember 4. Total shareholders' equity Blueberry Inc.'s trial balance follows. (Click the icon to view the trial balance.) Compute these amounts for Blueberry: 1. Total assets 2. Total liabilities 3. Net income or loss during November 4. Total shareholders' equity 82000 1. Total assets $ $45000 2. Total liabilities 3. Net lincome $ 26300 4. Total shareholders' equity $37000 Blueberry Inc. Trial Balance...
Livingston Company is a wholly owned subsidiary of Rose Corporation. Livingston operates in a foreign country with financial statements recorded in goghs (GH), the company's functional currency. Financial statements for the year of 2017 are as follows: Income Statement For Year Ending December 31, 2017 Sales GH 270, eee Cost of goods sold (155,000) Gross profit 115,000 Less: Operating expenses (54,60e) Gain on sale of equipment 10,000 Net income GH 71,000 N Statement of Retained Earnings For Year Ending December...
On January 1, 2017, Panther, Inc., issued securities with a total fair value of $588,000 for 100 percent of Stark Corporation's outstanding ownership shares. Stark has long supplied inventory to Panther. The companies expect to achieve synergies with production scheduling and product development with this combination. Although Stark's book value at the acquisition date was $334,000, the fair value of its trademarks was assessed to be $68,000 more than their carrying amounts. Additionally, Stark's patented technology was undervalued in its...
1. Determine the missing amounts. 2. Prepare Trident's classified balance sheet. Complete this question by entering your answers in the tabs bel Required 1 Required 2 Determine the missing amounts. (Enter the answers in thousands of dolla ($ in 000s) $ 239,186 353,700 504,944 Cash and cash equivalents Short-term investments Accounts receivable Inventory Prepaid expenses (current) Total current assets Long-term receivables Equipment (net) 83,259 1,594,927 110,800 Total assets 31,116 Notes payable (current) Accounts payable Accrued liabilities Other current liabilities Total...
On January 1, 2017, Panther, Inc., issued securities with a total fair value of $577,000 for 100 percent of Stark Corporation's outstanding ownership shares. Stark has long supplied inventory to Panther. The companies expect to achieve synergies with production scheduling and product development with this combination. Although Stark's book value at the acquisition date was $300,000, the fair value of its trademarks was assessed to be $45,000 more than their carrying amounts. Additionally, Stark's patented technology was undervalued in its...
On January 1, 2017, Panther, Inc., issued securities with a total fair value of $572,000 for 100 percent of Stark Corporation's outstanding ownership shares. Stark has long supplied inventory to Panther. The companies expect to achieve synergies with production scheduling and product development with this combination. Although Stark's book value at the acquisition date was $306,000, the fair value of its trademarks was assessed to be $50,000 more than their carrying amounts. Additionally, Stark's patented technology was undervalued in its...
On January 1, 2017, Panther, Inc., issued securities with a total fair value of $615,000 for 100 percent of Stark Corporation's outstanding ownership shares. Stark has long supplied inventory to Panther. The companies expect to achieve synergies with production scheduling and product development with this combination. Although Stark's book value at the acquisition date was $345,000, the fair value of its trademarks was assessed to be $76,000 more than their carrying amounts. Additionally, Stark's patented technology was undervalued in its...