A. 100,000
B. 150,000
C. 50,000
D. 137,500
Homework Answers
| The common stock outstanding on the consolidated balance sheet would be Common Stock balance of Paint company. |
| The Common Stock balance of Paint company is $100,000 |
| The common stock outstanding on the consolidated balance sheet = $100,000 |
| Option A 100,000 is correct |
Add Answer to:
A. 100,000
B. 150,000
C. 50,000
D. 137,500
Required information (The following information applies to the...
A. 0 B. 105,000 c. 30,000 D. 45,000 Required information (The following information applies to the...
A. 0
B. 105,000
c. 30,000
D. 45,000
Required information (The following information applies to the questions displayed below.) Select the correct answer for each of the following questions. Parts 1 and 2 are based on the following: On January 2, 20X8, Paint Company acquired 75 percent of Stain Company's outstanding common stock at an amount equal to its underlying book value. Selected balance sheet data at December 31, 20x8, follow: Total Assets Liabilities Common Stock Retained Earnings Paint Company...
14. Based on the preceding information, the differential reflected in a consolidation worksheet to prepare a...
14. Based on the preceding information, the differential reflected in a consolidation worksheet to prepare a consolidated balance sheet immediately after the business combination is: A. $0. B. $25,000 C. $70,000. D. $45,000. 15. Based on the preceding information, what amount should be allocated to goodwill in the consolidated balance sheet, prepared after this business combination? A. $0 B. $25,000 C. $70,000 D. $45,000 16. Blue Company owns 70 percent of Black Company's outstanding common stock. On December 31, 20X8,...
Question Information: Submission Format: E3-17 Subsidiary Acquired at Net Book Value LO 3-4, 3-5 On December...
Question Information:
Submission Format:
E3-17 Subsidiary Acquired at Net Book Value LO 3-4, 3-5 On December 31, 20X8, Paragraph Corporation acquired 80 percent of Sentence Company's common stock for $136,000. At the acquisition date, the book values and fair values of all of Sentence's assets and liabilities were equal. Paragraph uses the equity method in accounting for its investment. Balance sheet information provided by the companies at December 31, 20X8, immediately following the acquisition is as follows: page 129 Paragraph...
Question Information Submission Format: Please answer the question in the submission format and fill out all...
Question Information
Submission Format:
Please answer the question in the submission format and fill out
all sections. Thank you!
E3-17 Subsidiary Acquired at Net Book Value LO 3-4, 3-5 On December 31, 20X8, Paragraph Corporation acquired 80 percent of Sentence Company's common stock for $136,000. At the acquisition date, the book values and fair values of all of Sentence's assets and liabilities were equal. Paragraph uses the equity method in accounting for its investment. Balance sheet information provided by the...
Sound Manufacturing Corporation prepared the following balance sheet as of January 1, 20X8 50,000 200,000 100,000...
Sound Manufacturing Corporation prepared the following balance sheet as of January 1, 20X8 50,000 200,000 100,000 70,000 280,000 $700,000 $ 40,000 Accounts Payable Cash Accounts Receivable Inventory Buildings & Equipment Less: Accumulated Depreciation Total Assets 90,000 Bonds Payable 180,000 Common 500,000 Additional Paid-In Capital Stock (110,000) Retained Earnings 700,000 Total Liabilities &Equities The company is considering a 2-for-1 stock split, a stock dividend of 4,000 shares, or a stock dividend of 1,500 shares on its $10 par value common stock....
Required information SB On January 1, 20X8, Potter Corporation acquired... On January 1, 20X8, Potter Corporation...
Required information SB On January 1, 20X8, Potter Corporation acquired... On January 1, 20X8, Potter Corporation acquired 90 percent of Shoemaker Company’s voting stock, at underlying book value. The fair value of the noncontrolling interest was equal to 10 percent of the book value of Shoemaker at that date. Potter uses the fully adjusted equity method in accounting for its ownership of Shoemaker. On December 31, 20X9, the trial balances of the two companies are as follows: Potter Company Shoemaker...
choices are A) 1,368,000 B) 1,388,000 C) 1,502,000 D) 1,974,000 Saved Required information (The following information...
choices are
A) 1,368,000
B) 1,388,000
C) 1,502,000
D) 1,974,000
Saved Required information (The following information applies to the questions displayed below.) The separate condensed balance sheets of Patrick Corporation and its wholly-owned subsidiary, Sean Corporation, are as follows: Sean $ 72,000 24,000 50,000 268,000 BALANCE SHEETS December 31, 2020 Patrick Cash $ 72,000 Accounts receivable (net) 130,000 Inventories 80,000 Plant and equipment (net) 634,000 Investment in Sean 472,000 Total assets $1,388,000 Accounts payable 160,000 Long-term debt 100,000 Common stock...
choices are A) 1,110,000 B)1,128,000 C) 1,146,000 D) 1,336,000 Required information (The following informe on applies...
choices are
A) 1,110,000
B)1,128,000
C) 1,146,000
D) 1,336,000
Required information (The following informe on applies to the questions displayed below.) The separate conde sed balance sheets of Patrick Corporation and its wholly-owned subsidiary, Sean Corporation, are as follows: Sean $ 72,000 24,000 50,000 268,000 BALANCE SHEETS December 31, 2020 Patrick Cash $ 72,000 Accounts receivable (net) 130,000 Inventories 80,000 Plant and equipment (net) 634,000 Investment in Sean 472,000 Total assets $1,388,000 Accounts payable 160,000 Long-term debt 100,000 Connon stock...
On July 1, 2008, Rose Company exchanged 18,000 of its $35 fair value ($10 par value)...
On July 1, 2008, Rose Company exchanged 18,000 of its $35 fair value ($10 par value) shares for 16,000 of the outstanding shares of Daisy Company. Rose paid direct acqusition costs of $20,000 and $50,000 in stock issuance costs. Two companies had the following balance sheets on July 1, 2008: Rose Co. Book Value Daisy Co. Book Value Cash $ 150,000 $ 70,000 Inventory 120,000 60,000 Land 100,000 40,000 Buildings (net) 300,000 120,000 Equipment (net) 330,000 110,000 TOTAL 1,000,000 400,000...
On December 31, 20X8, Pancake Company acquired controlling ownership of Syrup Company. A consolidated balance sheet...
On December 31, 20X8, Pancake Company acquired controlling ownership of Syrup Company. A consolidated balance sheet was prepared immediately. Partial balance sheet data for the two companies and the consolidated entity at that date follow: Pancake Syrup Consolidated Company Company Entity Cash $ 80,000 $ 30,000 $ 110,000 Accounts Receivable 50,000 ? 78,000 Inventory 60,000 50,000 115,000 Buildings and Equipment 200,000 140,000 365,000 Less: Accumulated Depreciation (50,000 ) (28,000 ) (78,000 ) Investment in Syrup Stock ? Goodwill 15,000 Total...
A. 0
B. 105,000
c. 30,000
D. 45,000
Required information (The following information applies to the questions displayed below.) Select the correct answer for each of the following questions. Parts 1 and 2 are based on the following: On January 2, 20X8, Paint Company acquired 75 percent of Stain Company's outstanding common stock at an amount equal to its underlying book value. Selected balance sheet data at December 31, 20x8, follow: Total Assets Liabilities Common Stock Retained Earnings Paint Company...
14. Based on the preceding information, the differential reflected in a consolidation worksheet to prepare a consolidated balance sheet immediately after the business combination is: A. $0. B. $25,000 C. $70,000. D. $45,000. 15. Based on the preceding information, what amount should be allocated to goodwill in the consolidated balance sheet, prepared after this business combination? A. $0 B. $25,000 C. $70,000 D. $45,000 16. Blue Company owns 70 percent of Black Company's outstanding common stock. On December 31, 20X8,...
Question Information:
Submission Format:
E3-17 Subsidiary Acquired at Net Book Value LO 3-4, 3-5 On December 31, 20X8, Paragraph Corporation acquired 80 percent of Sentence Company's common stock for $136,000. At the acquisition date, the book values and fair values of all of Sentence's assets and liabilities were equal. Paragraph uses the equity method in accounting for its investment. Balance sheet information provided by the companies at December 31, 20X8, immediately following the acquisition is as follows: page 129 Paragraph...
Question Information
Submission Format:
Please answer the question in the submission format and fill out
all sections. Thank you!
E3-17 Subsidiary Acquired at Net Book Value LO 3-4, 3-5 On December 31, 20X8, Paragraph Corporation acquired 80 percent of Sentence Company's common stock for $136,000. At the acquisition date, the book values and fair values of all of Sentence's assets and liabilities were equal. Paragraph uses the equity method in accounting for its investment. Balance sheet information provided by the...
Sound Manufacturing Corporation prepared the following balance sheet as of January 1, 20X8 50,000 200,000 100,000 70,000 280,000 $700,000 $ 40,000 Accounts Payable Cash Accounts Receivable Inventory Buildings & Equipment Less: Accumulated Depreciation Total Assets 90,000 Bonds Payable 180,000 Common 500,000 Additional Paid-In Capital Stock (110,000) Retained Earnings 700,000 Total Liabilities &Equities The company is considering a 2-for-1 stock split, a stock dividend of 4,000 shares, or a stock dividend of 1,500 shares on its $10 par value common stock....
choices are
A) 1,368,000
B) 1,388,000
C) 1,502,000
D) 1,974,000
Saved Required information (The following information applies to the questions displayed below.) The separate condensed balance sheets of Patrick Corporation and its wholly-owned subsidiary, Sean Corporation, are as follows: Sean $ 72,000 24,000 50,000 268,000 BALANCE SHEETS December 31, 2020 Patrick Cash $ 72,000 Accounts receivable (net) 130,000 Inventories 80,000 Plant and equipment (net) 634,000 Investment in Sean 472,000 Total assets $1,388,000 Accounts payable 160,000 Long-term debt 100,000 Common stock...
choices are
A) 1,110,000
B)1,128,000
C) 1,146,000
D) 1,336,000
Required information (The following informe on applies to the questions displayed below.) The separate conde sed balance sheets of Patrick Corporation and its wholly-owned subsidiary, Sean Corporation, are as follows: Sean $ 72,000 24,000 50,000 268,000 BALANCE SHEETS December 31, 2020 Patrick Cash $ 72,000 Accounts receivable (net) 130,000 Inventories 80,000 Plant and equipment (net) 634,000 Investment in Sean 472,000 Total assets $1,388,000 Accounts payable 160,000 Long-term debt 100,000 Connon stock...
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