Question:On January 1, 2020, Holland Corporation paid $9 per share to a group of Zeeland Corporation...
Question
On January 1, 2020, Holland Corporation paid $9 per share to a group of Zeeland Corporation...
On January 1, 2020, Holland Corporation paid $9 per share to a group of Zeeland Corporation shareholders to acquire 60,000 shares of Zeeland's outstanding voting stock, representing a 60 percent ownership interest. The remaining 40,000 shares of Zeeland continued to trade in the market close to its recent average of $8.00 per share both before and after the acquisition by Holland. Zeeland's acquisition date balance sheet follows: $ $ Current assets Property and equipment (net) Patents 15,70 329,700 212,100 557,500 Liabilities Common stock Retained earnings 237,500 1ee, eee 220,000 557,500 $ $ On January 1, 2020, Holland assessed the carrying amount of Zeeland's equipment (5-year remaining life) to be undervalued by $50,000. Holland also determined that Zeeland possessed unrecorded patents (10-year remaining life) worth $420,100. Zeeland's acquisition-date fair values for its current assets and liabilities were equal to their carrying amounts. Any remaining excess of Zeeland's acquisition-date fair value over its book value was attributed to goodwill.
On January 1, 2017, Holland Corporation paid $9 per share to a group of Zeeland Corporation shareholders to acquire 60,000 shares of Zeeland's outstanding voting stock, representing a 60 percent ownership interest. The remaining 40,000 shares of Zeeland continued to trade in the market close to its recent average of $8.00 per share both before and after the acquisition by Holland. Zeeland's acquisition date balance sheet follows: S 14,200 328,200 Current assets Liabilities 215,000 Property and equipment (net) Patents Common...
On January 1, 2020, Holland Corporation paid $8 per share to a group of Zeeland Corporation shareholders to acquire 60,000 shares of Zeeland's outstanding voting stock, representing a 60 percent ownership Interest. The remaining 40,000 shares of Zeeland continued to trade in the market close to its recent average of $6.00 per share both before and after the acquisition by Holland. Zeeland's acquisition date balance sheet follows: Current assets Property and equipment (net) Patents $ 16,300 250, 300 219,900 $...
On January 1, 2020, Holland Corporation paid $8 per share to a
group of Zeeland Corporation shareholders to acquire 60,000 shares
of Zeeland’s outstanding voting stock, representing a 60 percent
ownership interest. The remaining 40,000 shares of Zeeland
continued to trade in the market close to its recent average of
$6.00 per share both before and after the acquisition by Holland.
Zeeland’s acquisition date balance sheet follows:
Current assets
$
16,300
Liabilities
$
246,500
Property and equipment (net)
250,300
Common...
On January 1, 2020, Holland Corporation paid $7 per share to a
group of Zeeland Corporation shareholders to acquire 60,000 shares
of Zeeland’s outstanding voting stock, representing a 60 percent
ownership interest. The remaining 40,000 shares of Zeeland
continued to trade in the market close to its recent average of
$6.00 per share both before and after the acquisition by Holland.
Zeeland’s acquisition date balance sheet follows:
Current assets
$
15,200
Liabilities
$
230,000
Property and equipment (net)
249,200
Common...
On January 1, 2017, Holland Corporatlon pald $9 per share to a group of Zeeland Corporation shareholders to acquire 60,000 shares of Zeeland's outstanding voting stock, representing a 60 percent ownership interest. The remalning 40,000 shares of Zeeland continued to trade in the market close to Its recent average of $8.00 per share both before and after the acquisition by Holland. Zeeland's acquisitlon date balance sheet follows: 236, 000 $ 15, 600 Liabilities Common stock Current assets Property and equipment...
On January 1, 2017, Holland Corporation paid $8 per share to a
group of Zeeland Corporation shareholders to acquire 60,000 shares
of Zeeland’s outstanding voting stock, representing a 60 percent
ownership interest. The remaining 40,000 shares of Zeeland
continued to trade in the market close to its recent average of
$7.00 per share both before and after the acquisition by Holland.
Zeeland’s acquisition date balance sheet follows:
Current assets
$
14,900
Liabilities
$
225,500
Property and equipment (net)
288,900
Common...
On January 1, 2017, Holland Corporation paid $8 per share to a
group of Zeeland Corporation
shareholders to acquire 60,000 shares of Zeeland’s outstanding
voting stock, representing a 60
percent ownership interest. The remaining 40,000 shares of
Zeeland continued to trade in the market
close to its recent average of $6.50 per share both before and
after the acquisition by Holland.
Zeeland’s acquisition date balance sheet follows:
Current assets $ 14,000 Liabilities $ 212,000
Property and equipment (net) 268,000 Common...
The Holtz Corporation acquired 80 percent of the 100,000 outstanding voting shares of Devine, Inc., for $6.80 per share on January 1, 2020. The remaining 20 percent of Devine's shares also traded actively at $6.80 per share before and after Holtz's acquisition. An appraisal made on that date determined that all book values appropriately reflected the fair values of Devine's underlying accounts except that a building with a 5-year future life was undervalued by $84,000 and a fully amortized trademark...
On January 1, 2020, Mcllroy, Inc., acquired a 60 percent interest in the common stock of Stinson, Inc., for $352,800. Stinson's book value on that date consisted of common stock of $100,000 and retained earnings of $208,500. Also, the acquisition-date fair value of the 40 percent noncontrolling interest was $235,200. The subsidiary held patents (with a 10-year remaining life) that were undervalued within the company's accounting records by $84,400 and an unrecorded customer list (15-year remaining life) assessed at a...
Please show me how to get the correct answers. Thank you.
The Holtz Corporation acquired 80 percent of the 100.000 outstanding voting shares of Devine, Inc., for $7:10 per share on January 1. 2020. The remaining 20 percent of Devine's shares also traded actively at $7.10 per share before and after Holtz's acquisition. An appraisal made on that date determined that all book values appropriately reflected the fair values of Devine's underlying accounts except that a building with a 5-year...
On January 1, 2017, Holland Corporation paid $9 per share to a group of Zeeland Corporation shareholders to acquire 60,000 shares of Zeeland's outstanding voting stock, representing a 60 percent ownership interest. The remaining 40,000 shares of Zeeland continued to trade in the market close to its recent average of $8.00 per share both before and after the acquisition by Holland. Zeeland's acquisition date balance sheet follows: S 14,200 328,200 Current assets Liabilities 215,000 Property and equipment (net) Patents Common...
On January 1, 2020, Holland Corporation paid $8 per share to a group of Zeeland Corporation shareholders to acquire 60,000 shares of Zeeland's outstanding voting stock, representing a 60 percent ownership Interest. The remaining 40,000 shares of Zeeland continued to trade in the market close to its recent average of $6.00 per share both before and after the acquisition by Holland. Zeeland's acquisition date balance sheet follows: Current assets Property and equipment (net) Patents $ 16,300 250, 300 219,900 $...
On January 1, 2020, Holland Corporation paid $8 per share to a
group of Zeeland Corporation shareholders to acquire 60,000 shares
of Zeeland’s outstanding voting stock, representing a 60 percent
ownership interest. The remaining 40,000 shares of Zeeland
continued to trade in the market close to its recent average of
$6.00 per share both before and after the acquisition by Holland.
Zeeland’s acquisition date balance sheet follows:
Current assets
$
16,300
Liabilities
$
246,500
Property and equipment (net)
250,300
Common...
On January 1, 2020, Holland Corporation paid $7 per share to a
group of Zeeland Corporation shareholders to acquire 60,000 shares
of Zeeland’s outstanding voting stock, representing a 60 percent
ownership interest. The remaining 40,000 shares of Zeeland
continued to trade in the market close to its recent average of
$6.00 per share both before and after the acquisition by Holland.
Zeeland’s acquisition date balance sheet follows:
Current assets
$
15,200
Liabilities
$
230,000
Property and equipment (net)
249,200
Common...
On January 1, 2017, Holland Corporatlon pald $9 per share to a group of Zeeland Corporation shareholders to acquire 60,000 shares of Zeeland's outstanding voting stock, representing a 60 percent ownership interest. The remalning 40,000 shares of Zeeland continued to trade in the market close to Its recent average of $8.00 per share both before and after the acquisition by Holland. Zeeland's acquisitlon date balance sheet follows: 236, 000 $ 15, 600 Liabilities Common stock Current assets Property and equipment...
The Holtz Corporation acquired 80 percent of the 100,000 outstanding voting shares of Devine, Inc., for $6.80 per share on January 1, 2020. The remaining 20 percent of Devine's shares also traded actively at $6.80 per share before and after Holtz's acquisition. An appraisal made on that date determined that all book values appropriately reflected the fair values of Devine's underlying accounts except that a building with a 5-year future life was undervalued by $84,000 and a fully amortized trademark...
On January 1, 2020, Mcllroy, Inc., acquired a 60 percent interest in the common stock of Stinson, Inc., for $352,800. Stinson's book value on that date consisted of common stock of $100,000 and retained earnings of $208,500. Also, the acquisition-date fair value of the 40 percent noncontrolling interest was $235,200. The subsidiary held patents (with a 10-year remaining life) that were undervalued within the company's accounting records by $84,400 and an unrecorded customer list (15-year remaining life) assessed at a...
Please show me how to get the correct answers. Thank you.
The Holtz Corporation acquired 80 percent of the 100.000 outstanding voting shares of Devine, Inc., for $7:10 per share on January 1. 2020. The remaining 20 percent of Devine's shares also traded actively at $7.10 per share before and after Holtz's acquisition. An appraisal made on that date determined that all book values appropriately reflected the fair values of Devine's underlying accounts except that a building with a 5-year...