need this answered contrary to your belief the question is not incomplete so please answer. Tulip...
A parent acquired 90% of the voting stock of a subsidiary for $20,000. The fair value of the noncontrolling interest was $2,000. The subsidiary's book value at the date of acquisition was $1,000. Following is revaluation information for the subsidiary's identifiable net assets at the date of acquisition: Fair Value – Book Value Inventories $ (400) Equipment (10,000) Identifiable intangibles 16,000 What is the amount of consolidated goodwill attributed to the noncontrolling interest at the date of acquisition, following U.S....
Q1
245000
325000
375000
455000
700000
Q2
0
10000
15000
40000
50000
Q3
48000 and 262800
48000 and 273000
42900 and 267900
42900 and 262800
48000 and 267900
Dunne Inc. bought 65% of the outstanding common stock of Hardy Inc. in an acquisition that resulted in the recognition of goodwill. Hardy owned a piece of land that cost $375,000 but was worth $700,000 at the date of acquisition. What value would be attributed to this land in a consolidated balance...
1.)
0
100000
200000
300000
700000
2.)
48000 and 262800
48000 and 273000
42900 and 267900
42900 and 262800
48000 and 267900
3.)
580000
574400
548000
542400
541000
4.)
580000
668200
680100
692000
723000
Dodd Co. acquired 75% of the common stock of Wallace Corp. for $1,800,000. The fair value of Wallace's net assets was $2,100,000, and the book value was $1,900,000. The noncontrolling interest shares of Wallace Corp. are not actively traded. What is the total amount of goodwill...
On January 1, 2021, Ackerman Company acquires 80% of Seidel Company for $1,917,440 in cash consideration. The remaining 20 percent noncontrolling interest shares had an acquisition-date estimated fair value of $479,360. Seidel's acquisition-date total book value was $1,904,000. The fair value of Seidel's recorded assets and liabilities equaled their carrying amounts. However, Seidel had two unrecorded assets, a trademark with an indefinite life and estimated fair value of $274,400 and several customer relationships estimated to be worth $201,600 with four-year...
13 On January 1, 2021, Ackerman Company acquires 80% of Seidel Company for $1,848,960 in cash consideration. The remaining 20 percent noncontrolling interest shares had an acquisition-date estimated fair value of $462,240. Seidel's acquisition-date total book value was $1,836,000. 10 points The fair value of Seidel's recorded assets and liabilities equaled their carrying amounts. However, Seidel had two unrecorded assets- a trademark with an indefinite life and estimated fair value of $264,600 and several customer relationships estimated to be worth...
On January 1, 2021, Ackerman Company acquires 80% of Seidel Company for $1,900,320 in cash consideration. The remaining 20 percent noncontrolling interest shares had an acquisition-date estimated fair value of $475,080. Seidel’s acquisition-date total book value was $1,887,000. The fair value of Seidel’s recorded assets and liabilities equaled their carrying amounts. However, Seidel had two unrecorded assets—a trademark with an indefinite life and estimated fair value of $271,950 and several customer relationships estimated to be worth $199,800 with four-year remaining lives....
On January 1, Patterson Corporation acquired 80 percent of the 100,000 outstanding voting shares of Soriano, Inc., in exchange for $31.25 per share cash. The remaining 20 percent of Soriano's shares continued to trade for $30 both before and after Patterson's acquisition At January 1, Soriano's book and fair values were as follows: Remaining Life Current assets Buildings and equipment Trademarks Patented technology Values $ 80,000 1,000,000 900,000 2,000,000 5 years 10 years 4 years Book Values 80,000 1,250,000 700,000...
Hepner Corporation has the following stockholders' equity accounts: Preferred stock (5% cumulative dividend) Common stock Additional paid-in capital Retained earnings 680,00e 930,000 480,000 1,130,000 The preferred stock is participating. Wasatch Corporation buys 70 percent of this common stock for $1,750,000 and 60 percent of the preferred stock for $810,000. The acquisition-date fair value of the noncontrolling interest in the common shares was $750,000 and was $540,000 for the preferred shares. All of the subsidiary's assets and liabilities are viewed as...
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...
Following are several figures reported for Allister and Barone as of December 31, 2018: Allister Barone $ 540,000 s 340,000 1,080,000 880,000 Inventory Sales Investment income Cost of goods sold Operating expenses not given 540,000 440,000 250,000 320,000 Allister acquired 90 percent of Barone in January 2017. In allocating the newly acquired subsidiary's fair value at the acquisition date, Allister noted that Barone had developed a customer list worth $64,000 that was unrecorded on its accounting records and had a...