![J. Retained earnlllg on-Equity e. Equity investment Assume that your company acquired a subsidiary on January 1, 2013. The purchase price $1,463,000 in excess of the subsidiarys book value of Stockholders Equity on the acquisition date, 39. Determi method ining ending consolidated balances in the fourth year following the acquisition that excess was assigned to the following [A] assets: Original Original Amount Useful Life A] Asset .496,000 355,000 $ 612,000 12 years 8 years Indefinite $1,463,000 The [A] assets with a useful life have been amortized as part of the parents equity method accounting. The financial statements of the parent and its subsidiary for the year ended December 31, 2016, are as follows](http://img.homeworklib.com/questions/013cffe0-c963-11eb-a95f-958c29e675e2.png?x-oss-process=image/resize,w_560)
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J. Retained earnlllg on-Equity e. Equity investment Assume that your company acquired a subsidiary on January...
Determining ending consolidated balances in the third year following the acquisition-Equity method Assume that your company...
Determining ending consolidated balances in the third year following the acquisition-Equity method Assume that your company acquired a subsidiary on January 1, 2017. The purchase price was $1,000,000 in excess of the subsidiary's book value of Stockholders' Equity on the acquisition date, and that excess was assigned to the following [A] assets: Original Original [A] Asset Amount Useful Life Patent $700,000 10 years Goodwill 300,000 indefinite $1,000,000 The [A] assets with a useful life have been amortized as part of...
Consolidation spreadsheet for continuous sale of inventory-Equity method
Consolidation spreadsheet for continuous sale of inventory-Equity method Assume a parent company acquired a subsidiary on January 1. 2016. The purchase price was S600,000 in excess of the subsidiary's book value of Stockholders' Equity on the acquisition date, and that excess was assigned to the following AAP assets: The AAP assets with a definite useful life have been amortized as part of the parent's equity method accounting. The Goodwill asset has been tested annually for impairment, and has not been found to...
Determining ending consolidated balances in the second year following the acquisition—Equity method Assume that your company...
Determining ending consolidated balances in the second year following the acquisition—Equity method Assume that your company acquired a subsidiary on January 1, 2012. The purchase price was $650,000 in excess of the subsidiary's book value of Stockholders' Equity on the acquisition date, and that excess was assigned to the following [A] assets: [A] Asset Original Amount Original Useful Life (years) Property, plant and equipment (PPE), net $325,000 20 Goodwill 325,000 Indefinite $650,000 The AAP asset relating to undervalued PPE with...
Consolidation spreadsheet for continuous sale of inventory - Equity method Assume that a parent c...
Consolidation spreadsheet for continuous sale of inventory - Equity method Assume that a parent company acquired a subsidiary on January 1, 2010. The purchase price was 500,000 million in excess of the subsidiary's book value of Stockholders' Equity on the acquisition date and that excess was assigned to the following AAP assets Original Original Useful Amount Life (years) AAP Asset Property, plant and equipment (PPE), net Customer list Royalty agreement Goodwill $100,000 185,000 115,000 100,000 $500,000 20 indefinite The AAP...
Determining ending consolidated balances in the second year following the acquisition—Equity method Assume a parent company...
Determining ending consolidated balances in the second
year following the acquisition—Equity
method
Assume a parent company acquired a subsidiary on January 1,
2015. The purchase price was $745,000
in excess of the subsidiary’s book value of Stockholders’ Equity
on the acquisition date, and that excess
was assigned to the following [A] assets:
37. Determining euding consolidated balances in the second year following the acquisition-Equity method Assume a parent company acquired a subsidiary on January 1, 2015. The purchase price was...
Assume that on January 1, 2018, a parent company acquired an 85% interest in a subsidiary's...
Assume that on January 1, 2018, a parent company acquired an 85% interest in a subsidiary's voting common stock. On the date of acquisition, the fair-value of the subsidiary's net assets equaled their reported book values except for machinery and equipment, which had a fair value of $780,000 and a reported book value of $325,000. the machinery and equipment had a 5-year remaining useful life and no salvage value. The following are the highly summarized pre-consolidation income statements of the...
Determining ending consolidated balances in the third year following the acquisition—Equity method Assume that your company...
Determining ending consolidated balances in the third year following the acquisition—Equity method Assume that your company acquired a subsidiary on January 1, 2017. The purchase price was $900,000 in excess of the subsidiary’s book value of Stockholders’ Equity on the acquisition date, and that excess was assigned to the following [A] assets: [A] Asset Original Amount Original Useful Life Patent $600,000 10 years Goodwill 300,000 Indefinite $900,000 The [A] assets with a useful life have been amortized as part of...
Prepare consolidation spreadsheet for intercompany sale of equipment- Equity Method Assume a parent company acquired its...
Prepare consolidation spreadsheet for intercompany sale of equipment- Equity Method Assume a parent company acquired its subsidiary on January 1, 2015, at a purchase price that was $222,000 in excess of the book value of the subsidiary's Stockholders' Equity on the acquisition date. Of that excess, $132,000 was assigned to a Customer List that is being amortized over a 10-year period. The remaining $90,000 was assigned to Goodwill. In January of 2018, the wholly owned subsidiary sold Equipment to the...
50. Prepare consolidation spreadsheet for intercompany sale of equipment-Equity method Assume a parent company acquired its...
50. Prepare consolidation spreadsheet for intercompany sale of
equipment-Equity method Assume a parent company acquired its
subsidiary on January 1, 2015, at a purchase price that was
$222,000 in excess of the book value of the subsidiary's
Stockholders' Equity on the acquisition date. Of that excess,
$132,000 was assigned to a Customer List that is being amortized
over a 10-year period. The remaining $90,000 was assigned to
Goodwill. In January of 2018, the wholly owned subsidiary sold
Equipment to the...
Prepare consolidation spreadsheet for intercompany sale of land - Equity Method Assume a parent company acquired...
Prepare consolidation spreadsheet for intercompany sale of land - Equity Method Assume a parent company acquired its subsidiary on January 1, 2017, at a purchase price that was $270,000 in excess of the book value of the subsidiary's Stockholders' Equity on the acquisition date. Of that excess, $180,000 was assigned to an unrecorded patent owned by the subsidiary that is being amortized over a 10 year period. The [A] Patent asset has been amortized as part of the parent's equity...
Determining ending consolidated balances in the third year following the acquisition-Equity method Assume that your company acquired a subsidiary on January 1, 2017. The purchase price was $1,000,000 in excess of the subsidiary's book value of Stockholders' Equity on the acquisition date, and that excess was assigned to the following [A] assets: Original Original [A] Asset Amount Useful Life Patent $700,000 10 years Goodwill 300,000 indefinite $1,000,000 The [A] assets with a useful life have been amortized as part of...
Consolidation spreadsheet for continuous sale of inventory - Equity method Assume that a parent company acquired a subsidiary on January 1, 2010. The purchase price was 500,000 million in excess of the subsidiary's book value of Stockholders' Equity on the acquisition date and that excess was assigned to the following AAP assets Original Original Useful Amount Life (years) AAP Asset Property, plant and equipment (PPE), net Customer list Royalty agreement Goodwill $100,000 185,000 115,000 100,000 $500,000 20 indefinite The AAP...
Determining ending consolidated balances in the second
year following the acquisition—Equity
method
Assume a parent company acquired a subsidiary on January 1,
2015. The purchase price was $745,000
in excess of the subsidiary’s book value of Stockholders’ Equity
on the acquisition date, and that excess
was assigned to the following [A] assets:
37. Determining euding consolidated balances in the second year following the acquisition-Equity method Assume a parent company acquired a subsidiary on January 1, 2015. The purchase price was...
50. Prepare consolidation spreadsheet for intercompany sale of
equipment-Equity method Assume a parent company acquired its
subsidiary on January 1, 2015, at a purchase price that was
$222,000 in excess of the book value of the subsidiary's
Stockholders' Equity on the acquisition date. Of that excess,
$132,000 was assigned to a Customer List that is being amortized
over a 10-year period. The remaining $90,000 was assigned to
Goodwill. In January of 2018, the wholly owned subsidiary sold
Equipment to the...
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