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On January 1, 2020, Holland Corporation paid $8 per share to a group of Zeeland Corporation...
On January 1, 2020, Holland Corporation paid $8 per share to a group of Zeeland Corporation...
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 $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...
On January 1, 2017, Holland Corporation paid $9 per share to a group of Zeeland Corporation...
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 $7 per share to a group of Zeeland Corporation...
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,...
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...
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...
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...
On January 1, 2020, Mcllroy, Inc., acquired a 60 percent interest in the common stock of...
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...
On January 1, 2020, Paloma Corporation exchanged $1,710,000 cash for 90 percent of the outstanding voting...
On January 1, 2020, Paloma Corporation exchanged $1,710,000 cash for 90 percent of the outstanding voting stock of San Marco Company. The consideration transferred by Paloma provided a reasonable basis for assessing the total January 1, 2020, fair value of San Marco Company. At the acquisition date, San Marco reported the following owners' equity amounts in its balance sheet: Common stock Additional paid-in capital Retained earnings $400,000 60,000 265,000 In determining its acquisition offer, Paloma noted that the values for...
On January 1, 2021, Morey, Inc., exchanged $175,175 for 25 percent of Amsterdam Corporation. Morey appropriately...
On January 1, 2021, Morey, Inc., exchanged $175,175 for 25 percent of Amsterdam Corporation. Morey appropriately applied the equity method to this investment. At January 1, the book values of Amsterdam's assets and liabilities approximated their fair values. On June 30, 2021, Morey paid $637,000 for an additional 70 percent of Amsterdam, thus increasing its overall ownership to 95 percent. The price paid for the 70 percent acquisition was proportionate to Amsterdam's total fair value. At June 30, the carrying...
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 $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...
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 $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, 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...
On January 1, 2020, Paloma Corporation exchanged $1,710,000 cash for 90 percent of the outstanding voting stock of San Marco Company. The consideration transferred by Paloma provided a reasonable basis for assessing the total January 1, 2020, fair value of San Marco Company. At the acquisition date, San Marco reported the following owners' equity amounts in its balance sheet: Common stock Additional paid-in capital Retained earnings $400,000 60,000 265,000 In determining its acquisition offer, Paloma noted that the values for...
On January 1, 2021, Morey, Inc., exchanged $175,175 for 25 percent of Amsterdam Corporation. Morey appropriately applied the equity method to this investment. At January 1, the book values of Amsterdam's assets and liabilities approximated their fair values. On June 30, 2021, Morey paid $637,000 for an additional 70 percent of Amsterdam, thus increasing its overall ownership to 95 percent. The price paid for the 70 percent acquisition was proportionate to Amsterdam's total fair value. At June 30, the carrying...
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