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On January 1, 2020, Prestige Corporation acquired 100 percent of the voting stock of Stylene Corporation...
On January 1, 2020, Prestige Corporation acquired 100 percent of the voting stock of Stylene Corporation...
On January 1, 2020, Prestige Corporation acquired 100 percent of the voting stock of Stylene Corporation in exchange for $2,361,000 in cash and securities. On the acquisition date, Stylene had the following balance sheet: Cash $ 30,600 Accounts payable $ 1,556,600 Accounts receivable 103,000 Inventory 197,000 Equipment (net) 2,070,000 Common stock 800,000 Trademarks 886,000 Retained earnings 930,000 Total assets $ 3,286,600 Total liabilities and equity $ 3,286,600 At the acquisition date, the book values of Stylene’s assets and liabilities...
On January 1, 2017, Prestige Corporation acquired 100 percent of the voting stock of Stylene Corporation...
On January 1, 2017, Prestige Corporation acquired 100 percent of the voting stock of Stylene Corporation in exchange for $2,312,500 in cash and securities. On the acquisition date, Stylene had the following balance sheet: Cash $ 28,600 Accounts payable $ 1,377,100 Accounts receivable 111,500 Inventory 141,000 Equipment (net) 1,830,000 Common stock 800,000 Trademarks 918,000 Retained earnings 852,000 $ 3,029,100 $ 3,029,100 At the acquisition date, the book values of Stylene’s assets and liabilities were generally equivalent to their fair...
Please help I am lost. I`m not how to answer a, b or c Problem 3-27...
Please help I am lost. I`m not how to answer a, b or c
Problem 3-27 (Algo) (LO 3-1, 3-3a) On January 1, 2020, Prestige Corporation acquired 100 percent of the voting stock of Stylene Corporation in exchange for $2,173,000 in cash and securities. On the acquisition date, Stylene had the following balance sheet: Accounts payable $ 1,537,100 Cash Accounts receivable Inventory Equipment (net) Trademarks Total assets $ 39,600 126,500 175,000 1,880,000 874,000 $ 3,095, 100 Common stock 800,000 Retained...
Allison Corporation acquired all of the outstanding voting stock of Mathias, Inc., on January 1, 2020,...
Allison Corporation acquired all of the outstanding voting stock of Mathias, Inc., on January 1, 2020, in exchange for $6,264,500 in cash. Allison intends to maintain Mathias as a wholly owned subsidiary. Both companies have December 31 fiscal year-ends. At the acquisition date, Mathias's stockholders' equity was $2,095,000 including retained earnings of $1,595,000 At the acquisition date, Allison prepared the following fair-value allocation schedule for its newly acquired subsidiary: $6,264,500 2,095,000 $4,169,500 Consideration transferred Mathias stockholders' equity Excess fair over...
Allison Corporation acquired all of the outstanding voting stock of Mathias, Inc., on January 1, 2020,...
Allison Corporation acquired all of the outstanding voting stock of Mathias, Inc., on January 1, 2020, in exchange for $6,121,000 in cash. Allison intends to maintain Mathias as a wholly owned subsidiary. Both companies have December 31 fiscal year-ends. At the acquisition date, Mathias's stockholders' equity was $2,060,000 including retained earnings of $1,560,000. At the acquisition date, Allison prepared the following fair-value allocation schedule for its newly acquired subsidiary: $6,121,000 2,060,000 $4,061,000 Consideration transferred Mathias stockholders' equity Excess fair over...
Allison Corporation acquired all of the outstanding voting stock of Mathias, Inc., on January 1, 2020,...
Allison Corporation acquired all of the outstanding voting stock of Mathias, Inc., on January 1, 2020, in exchange for $6,387,500 in cash. Allison intends to maintain Mathias as a wholly owned subsidiary. Both companies have December 31 fiscal year-ends. At the acquisition date, Mathias's stockholders' equity was $2,125,000 including retained earnings of $1,625,000. At the acquisition date, Allison prepared the following fair value allocation schedule for its newly acquired subsidiary: $6,387,500 2,125,000 $4,262,500 Consideration transferred Mathias stockholders' equity Excess fair...
On January 1, 2020, Procise Corporation acquired 100 percent ofthe outstanding voting stock of GaugeRite...
On January 1, 2020, Procise Corporation acquired 100 percent of
the outstanding voting stock of GaugeRite Corporation for
$2,007,750 cash. On the acquisition date, GaugeRite had the
following balance sheet:Cash$87,000Accounts payable$196,000Accounts receivable176,000Long-term debt993,000Land738,000Common stock1,009,000Equipment (net)1,898,000Retained earnings701,000Total assets$2,899,000Total liabilities and equity$2,899,000At the acquisition date, the following allocation was
prepared:Fair value of consideration transferred$2,007,750Book value acquired1,710,000Excess fair value over book value297,750To in-process research and development$53,750To equipment (8-year remaining life)124,000177,750To goodwill (indefinite life)$120,000Although at acquisition date Procise had expected $53,750 in
future benefits...
Allison Corporation acquired all of the outstanding voting stock of Mathias, Inc., on January 1, 2020,...
Allison Corporation acquired all of the outstanding voting stock of Mathias, Inc., on January 1, 2020, in exchange for $6,121,000 in cash. Allison intends to maintain Mathias as a wholly owned subsidiary. Both companies have December 31 fiscal year-ends. At the acquisition date, Mathias’s stockholders’ equity was $2,060,000 including retained earnings of $1,560,000. At the acquisition date, Allison prepared the following fair-value allocation schedule for its newly acquired subsidiary: Consideration transferred $ 6,121,000 Mathias stockholders' equity 2,060,000 Excess fair over...
Allison Corporation acquired all of the outstanding voting stock of Mathias, Inc., on January 1, 2020,...
Allison Corporation acquired all of the outstanding voting stock of Mathias, Inc., on January 1, 2020, in exchange for $5,875,000 in cash. Allison intends to maintain Mathias as a wholly owned subsidiary. Both companies have December 31 fiscal year-ends. At the acquisition date, Mathias's stockholders' equity was $2,000,000 including retained earnings of $1,500,000 At the acquisition date, Allison prepared the following fair-value allocation schedule for its newly acquired subsidiary: Consideration transferred Mathias stockholders' equity Excess fair over book value to...
On January 1, 2017, Procise Corporation acquired 100 percent of the outstanding voting stock of GaugeRite Corporation fo...
On January 1, 2017, Procise Corporation acquired 100 percent of the outstanding voting stock of GaugeRite Corporation for $2,040,050 cash. On the acquisition date, GaugeRite had the following balance sheet: Cash $ 96,000 Accounts payable $ 216,000 Accounts receivable 166,000 Long-term debt 950,000 Land 742,000 Common stock 1,006,000 Equipment (net) 1,911,000 Retained earnings 743,000 $ 2,915,000 $ 2,915,000 At the acquisition date, the following allocation was prepared: Fair value of consideration transferred $ 2,040,050 Book value acquired 1,749,000 Excess fair...
Please help I am lost. I`m not how to answer a, b or c
Problem 3-27 (Algo) (LO 3-1, 3-3a) On January 1, 2020, Prestige Corporation acquired 100 percent of the voting stock of Stylene Corporation in exchange for $2,173,000 in cash and securities. On the acquisition date, Stylene had the following balance sheet: Accounts payable $ 1,537,100 Cash Accounts receivable Inventory Equipment (net) Trademarks Total assets $ 39,600 126,500 175,000 1,880,000 874,000 $ 3,095, 100 Common stock 800,000 Retained...
Allison Corporation acquired all of the outstanding voting stock of Mathias, Inc., on January 1, 2020, in exchange for $6,264,500 in cash. Allison intends to maintain Mathias as a wholly owned subsidiary. Both companies have December 31 fiscal year-ends. At the acquisition date, Mathias's stockholders' equity was $2,095,000 including retained earnings of $1,595,000 At the acquisition date, Allison prepared the following fair-value allocation schedule for its newly acquired subsidiary: $6,264,500 2,095,000 $4,169,500 Consideration transferred Mathias stockholders' equity Excess fair over...
Allison Corporation acquired all of the outstanding voting stock of Mathias, Inc., on January 1, 2020, in exchange for $6,121,000 in cash. Allison intends to maintain Mathias as a wholly owned subsidiary. Both companies have December 31 fiscal year-ends. At the acquisition date, Mathias's stockholders' equity was $2,060,000 including retained earnings of $1,560,000. At the acquisition date, Allison prepared the following fair-value allocation schedule for its newly acquired subsidiary: $6,121,000 2,060,000 $4,061,000 Consideration transferred Mathias stockholders' equity Excess fair over...
Allison Corporation acquired all of the outstanding voting stock of Mathias, Inc., on January 1, 2020, in exchange for $6,387,500 in cash. Allison intends to maintain Mathias as a wholly owned subsidiary. Both companies have December 31 fiscal year-ends. At the acquisition date, Mathias's stockholders' equity was $2,125,000 including retained earnings of $1,625,000. At the acquisition date, Allison prepared the following fair value allocation schedule for its newly acquired subsidiary: $6,387,500 2,125,000 $4,262,500 Consideration transferred Mathias stockholders' equity Excess fair...
On January 1, 2020, Procise Corporation acquired 100 percent of
the outstanding voting stock of GaugeRite Corporation for
$2,007,750 cash. On the acquisition date, GaugeRite had the
following balance sheet:Cash$87,000Accounts payable$196,000Accounts receivable176,000Long-term debt993,000Land738,000Common stock1,009,000Equipment (net)1,898,000Retained earnings701,000Total assets$2,899,000Total liabilities and equity$2,899,000At the acquisition date, the following allocation was
prepared:Fair value of consideration transferred$2,007,750Book value acquired1,710,000Excess fair value over book value297,750To in-process research and development$53,750To equipment (8-year remaining life)124,000177,750To goodwill (indefinite life)$120,000Although at acquisition date Procise had expected $53,750 in
future benefits...
Allison Corporation acquired all of the outstanding voting stock of Mathias, Inc., on January 1, 2020, in exchange for $5,875,000 in cash. Allison intends to maintain Mathias as a wholly owned subsidiary. Both companies have December 31 fiscal year-ends. At the acquisition date, Mathias's stockholders' equity was $2,000,000 including retained earnings of $1,500,000 At the acquisition date, Allison prepared the following fair-value allocation schedule for its newly acquired subsidiary: Consideration transferred Mathias stockholders' equity Excess fair over book value to...
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