Miller Company acquired an 80 percent interest in Taylor Company on January 1, 2016. Miller paid...
Miller Company acquired an 80 percent interest in Taylor Company on January 1, 2016. Miller paid $784,000 in cash to the owners of Taylor to acquire these shares. In addition, the remaining 20 percent of Taylor shares continued to trade at a total value of $196,000 both before and after Miller's acquisition. On January 1, 2016, Taylor reported a book value of $768,000 (Common Stock = $384,000; Additional Paid-In Capital = $115,200; Retained Earnings = $268,800). Several of Taylor's buildings...
Miller Company acquired an 80 percent interest in Taylor Company on January 1, 2016. Miller paid $888,000 in cash to the owners of Taylor to acquire these shares. In addition, the remaining 20 percent of Taylor shares continued to trade at a total value of $222,000 both before and after Miller’s acquisition. On January 1, 2016, Taylor reported a book value of $634,000 (Common Stock = $317,000; Additional Paid-In Capital = $95,100; Retained Earnings = $221,900). Several of Taylor’s buildings...
Miller Company acquired an 80 percent interest in Taylor Company on January 1, 2016. Miller paid $800,000 in cash to the owners of Taylor to acquire these shares. In addition, the remaining 20 percent of Taylor shares continued to trade at a total value of $200,000 both before and after Miller’s acquisition. On January 1, 2016, Taylor reported a book value of $674,000 (Common Stock = $337,000; Additional Paid-In Capital = $101,100; Retained Earnings = $235,900). Several of Taylor’s buildings...
Miller Company acquired an 80 percent Interest In Taylor Company on January 1, 2016. MIller pald $776,000 In cash to the owners of Taylor to acquire these shares. In addition, the remalning 20 percent of Taylor shares continued to trade at a total value of $194,000 both before and after Miller's acquisition. On January 1, 2016, Taylor reported a book value of $580,000 (Common Stock $290,000, Additional Paid-In Capltal $87,000; Retained Earnings $203,000). Several of Taylor's buildings that had a...
Miller Company acquired an 80 percent interest in Taylor Company on January 1, 2019. Miller paid $872,000 in cash to the owners of Taylor to acquire these shares. In addition, the remaining 20 percent of Taylor shares continued to trade at a total value of $218,000 both before and after Miller's acquisition. On January 1, 2019, Taylor reported a book value of $490,000 (Common Stock = $245,000; Additional Paid-In Capital = $73,500; Retained Earnings = $171,500). Several of Taylor's buildings...
Miller Company acquired an 80 percent Interest In Taylor Company on January 1, 2019. Miller pald $728,000 in cash to the owners of Taylor to acquire these shares. In addition, the remaining 20 percent of Taylor shares continued to trade at a total value of $182,000 both before and after Miller's acquisition On January 1, 2019, Taylor reported a book value of $474.000 (Common Stock = $237,000; Additional Pald-in Capital = $71,100; Retained Earnings = $165.900). Several of Taylor's bulidings...
In addition, the remaining 20 percent of Taylor shares continued to trade at a total value of $212,000 both before and after Miller’s acquisition. On January 1, 2019, Taylor reported a book value of $492,000 (Common Stock = $246,000; Additional Paid-In Capital = $73,800; Retained Earnings = $172,200). Several of Taylor’s buildings that had a remaining life of 20 years were undervalued by a total of $65,600. During the next three years, Taylor reports income and declares dividends as follows: YearNet IncomeDividends2019$57,700$8,400202075,60012,700202184,60017,000 Determine the...
Miller Company acquired an 80 percent interest in Taylor Company on January 1, 2019. Miller paid $800,000 in cash to the owners of Taylor to acquire these shares. In addition, the remaining 20 percent of Taylor shares continued to trade at a total value of $200,000 both before and after Miller’s acquisition. On January 1, 2019, Taylor reported a book value of $674,000 (Common Stock = $337,000; Additional Paid-In Capital = $101,100; Retained Earnings = $235,900). Several of Taylor’s buildings...
Tyler Company acquired all of Jasmine Company’s outstanding stock on January 1, 2016, for $206,000 in cash. Jasmine had a book value of only $140,000 on that date. However, equipment (having an eight-year remaining life) was undervalued by $54,400 on Jasmine’s financial records. A building with a 20-year remaining life was overvalued by $10,000. Subsequent to the acquisition, Jasmine reported the following:In accounting for this investment, Tyler has used the equity method. Selected accounts taken from the financial records of...
On January 1, 2016, Aspen Company acquired 80 percent of Birch Company's voting stock for $364,000. Birch reported a $320,000 book value and the fair value of the noncontrolling interest was $91,000 on that date. Then, on January 1, 2017, Birch acquired 80 percent of Cedar Company for $108,000 when Cedar had a $108,000 book value and the 20 percent noncontrolling interest was valued at $27,000. In each acquisition, the subsidiary's excess acquisition-date fair over book value was assigned to...