Homework Answers
1) Immediately following the purchase, the investment in Babe Ruth's Stock will be stated in Nolan Ryan's Parent only Balance sheet immediately after the combination in the amount of 600,000
Note - In Parent only balance sheet Nolan Ryan will show investment in subsidiary equals to the amount paid for purchase of investment hence it is 20000X30 = 600,000
2) the investment in Babe Ruth's Stock will be stated in Nolan Ryan's Consolidated Balance sheet immediately after the combination in the amount of 0.
Note- Immediately after the combination, in the consolidated balance sheet investment in the subsidiary will not appear. instead all the items in the balance sheet will be added line by line in Nolan Ryan's Balance sheet. hence investment in Babe Ruth will not be shown in consolidated balance sheet.
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Nolan Ryan Corporation issued 20,000 shares of common stock in exchange for all of Babe Ruth...
Nolan Ryan Corporation issued 20,000 shares of common stock in exchange for all of Babe Ruth...
Nolan Ryan Corporation issued 20,000 shares of common stock in exchange for all of Babe Ruth Corporation's outstanding stock on September 1. Nolan Ryan's common stock had a market price of $30 per share on September 1. The market price of Babe Ruth's stock was not readily ascertainable Immediately following the purchase, the investment in Babe Ruth's stock will be stated in Nolan Ryan's parent-only balance sheet immediately after the combination in the amount of: (Do not use a dollar...
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On December 31, 2019, Manama Corporation issued 90,000 shares of its no-par, no-stated-value common stock (current fair value $14 a share) for 36,000 shares of the outstanding $10 par common stock of Bahrain Company. The $100,000 out-of-pocket costs of the business combination paid by Manama on December 31, 2019, were allocable as follows: 45% to finders, legal, and accounting fees directly related to the business combination: 55% to the SEC registration statement for Manama’s common stock issued in the businesses...
Blank Corporation acquired 100 percent of Faith Corporation's common stock on December 31, 20X2, for $186,000....
Blank Corporation acquired 100 percent of Faith Corporation's common stock on December 31, 20X2, for $186,000. Data from the balance sheets of the two companies included the following amounts as of the date of acquisition Blank Corporation Corporation Faith Item Assets Cash Accounts Receivable Inventory Buildings and Equipment (net) Investment in Faith Corporation Stock 58,000 86,000 115,000 225,000 186,000 31,000 42,000 61,000 157,000 Total Assets $670,000 $291,000 Liabilities and Stockholders' Equity Accounts Payable Notes Payable Common Stock Retained Eanings $...
Price Company issued 8,220 shares of its $20 par value common stock for the net assets...
Price Company issued 8,220 shares of its $20 par value common
stock for the net assets of Sims Company in a business combination
under which Sims Company will be merged into Price Company.
Although the questions are correct, my question is how do I solve
part "B"?
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Check my w Blank Corporation acquired 100 percent of Faith Corporation's common stock on December 31,...
Check my w Blank Corporation acquired 100 percent of Faith Corporation's common stock on December 31, 20X2, for $208,000. Data from the balance sheets of the two companies included the following amounts as of the date of acquisition: Blank Corporation Faith Corporation Item Assets Cash Accounts Receivable Inventory Buildings and Equipment (net) Investment in Faith Corporation Stock Total Assets Liabilities and Stockholders' Equity Mecounts Payable Notes Payable Common Stock Retained Earnings Total Liabilities and Stockholders' Equity $ 60,000 86,000 101,000...
On December 31, 2019, Manama Corporation issued 90,000 shares of its no-par, no-stated-value common stock (current...
On December 31, 2019, Manama Corporation issued 90,000 shares of its no-par, no-stated-value common stock (current fair value $14 a share) for 36,000 shares of the outstanding $10 par common stock of Bahrain Company. The $100,000 out-of-pocket costs of the business combination paid by Manama on December 31, 2019, were allocable as follows: 45% to finders, legal, and accounting fees directly related to the business combination: 55% to the SEC registration statement for Manama’s common stock issued in the businesses...
Vader Company purchased 100 percent of the common shares of Skywalker Company by issuing shares of...
Vader Company purchased 100 percent of the common shares of Skywalker Company by issuing shares of common stock valued at $900,000. Selected accounts from Vader's balance sheet at the date of combination are as follows: Inventory $700,000 Building and Equipment (net) 1,400,000 Common Stock 840,000 Retained Earnings 2,000,000 Selected accounts from the balance sheet of Skywalker at acquisition are as follows: Inventory $200,000 Building and Equipment (net) 900,000 Common Stock 450,000 Additional Paid-In Capital 450,000 Retained Earnings (60,000) On the...
Blank Corporation acquired 100 percent of Faith Corporation's common stock on December 31, 20X2, for $216,000....
Blank Corporation acquired 100 percent of Faith Corporation's common stock on December 31, 20X2, for $216,000. Data from the balance sheets of the two companies included the following amounts as of the date of acquisition orporation Corporation Item Assets Cash Accounts Receivable Inventory Buildings and Equipment (net) Investment in Faith Corporation Stock Total Assets Liabilities and Stockholders' Equity Accounts Payable Notes Payable Common Stock Retained Earnings Total Liabilities and Stockholders' Equity $ 68,000 86,eee 120,000 223,000 216,000 $713,000 $ 19,00...
Is this none of the above? Vader Company purchased 100 percent of the common shares of...
Is this none of the above?
Vader Company purchased 100 percent of the common shares of Skywalker Company by issuing shares of common stock valued at $900,000. Selected accounts from Vader's balance sheet at the date of combination are as follows: Inventory $700,000 Building and Equipment (net) 1,400,000 Common Stock 840,000 Retained Earnings 2,000,000 Selected accounts from the balance sheet of Skywalker at acquisition are as follows: Inventory $200,000 Building and Equipment (net) 900,000 450,000 Common Stock Additional Paid-In Capital...
Nolan Ryan Corporation issued 20,000 shares of common stock in exchange for all of Babe Ruth Corporation's outstanding stock on September 1. Nolan Ryan's common stock had a market price of $30 per share on September 1. The market price of Babe Ruth's stock was not readily ascertainable Immediately following the purchase, the investment in Babe Ruth's stock will be stated in Nolan Ryan's parent-only balance sheet immediately after the combination in the amount of: (Do not use a dollar...
Blank Corporation acquired 100 percent of Faith Corporation's common stock on December 31, 20X2, for $186,000. Data from the balance sheets of the two companies included the following amounts as of the date of acquisition Blank Corporation Corporation Faith Item Assets Cash Accounts Receivable Inventory Buildings and Equipment (net) Investment in Faith Corporation Stock 58,000 86,000 115,000 225,000 186,000 31,000 42,000 61,000 157,000 Total Assets $670,000 $291,000 Liabilities and Stockholders' Equity Accounts Payable Notes Payable Common Stock Retained Eanings $...
Price Company issued 8,220 shares of its $20 par value common
stock for the net assets of Sims Company in a business combination
under which Sims Company will be merged into Price Company.
Although the questions are correct, my question is how do I solve
part "B"?
Exercise 2-7 Price Company issued 8,220 shares of its $20 par value common stock for the net assets of Sims Company in a business combination under which Sims Company will be merged into...
Check my w Blank Corporation acquired 100 percent of Faith Corporation's common stock on December 31, 20X2, for $208,000. Data from the balance sheets of the two companies included the following amounts as of the date of acquisition: Blank Corporation Faith Corporation Item Assets Cash Accounts Receivable Inventory Buildings and Equipment (net) Investment in Faith Corporation Stock Total Assets Liabilities and Stockholders' Equity Mecounts Payable Notes Payable Common Stock Retained Earnings Total Liabilities and Stockholders' Equity $ 60,000 86,000 101,000...
Vader Company purchased 100 percent of the common shares of Skywalker Company by issuing shares of common stock valued at $900,000. Selected accounts from Vader's balance sheet at the date of combination are as follows: Inventory $700,000 Building and Equipment (net) 1,400,000 Common Stock 840,000 Retained Earnings 2,000,000 Selected accounts from the balance sheet of Skywalker at acquisition are as follows: Inventory $200,000 Building and Equipment (net) 900,000 Common Stock 450,000 Additional Paid-In Capital 450,000 Retained Earnings (60,000) On the...
Blank Corporation acquired 100 percent of Faith Corporation's common stock on December 31, 20X2, for $216,000. Data from the balance sheets of the two companies included the following amounts as of the date of acquisition orporation Corporation Item Assets Cash Accounts Receivable Inventory Buildings and Equipment (net) Investment in Faith Corporation Stock Total Assets Liabilities and Stockholders' Equity Accounts Payable Notes Payable Common Stock Retained Earnings Total Liabilities and Stockholders' Equity $ 68,000 86,eee 120,000 223,000 216,000 $713,000 $ 19,00...
Is this none of the above?
Vader Company purchased 100 percent of the common shares of Skywalker Company by issuing shares of common stock valued at $900,000. Selected accounts from Vader's balance sheet at the date of combination are as follows: Inventory $700,000 Building and Equipment (net) 1,400,000 Common Stock 840,000 Retained Earnings 2,000,000 Selected accounts from the balance sheet of Skywalker at acquisition are as follows: Inventory $200,000 Building and Equipment (net) 900,000 450,000 Common Stock Additional Paid-In Capital...
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