Advanced Financial Accounting
12th Edition
ISBN: 9781259916977
Author: Christensen, Theodore E., COTTRELL, David M., Budd, Cassy
Publisher: Mcgraw-hill Education,
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Chapter 4, Problem 4.17E
A.
To determine
Consolidated
Consolidated Balance Sheet is a statement that shows the financial position of a parent company and its subsidiary companies at a specified date by listing the assets balance and the claim on such assets.
Calculation of inventory to be reported in the consolidated balance sheet.
B.
To determine
Consolidated Balance Sheet
Consolidated Balance Sheet is a statement that shows the financial position of a parent company and its subsidiary companies at a specified date by listing the assets balance and the claim on such assets.
Calculation of land to be reported in the consolidated balance sheet.
C.
To determine
Consolidated Balance Sheet
Consolidated Balance Sheet is a statement that shows the financial position of a parent company and its subsidiary companies at a specified date by listing the assets balance and the claim on such assets.
Calculation of building & equipment (net) to be reported in the consolidated balance sheet.
D.
To determine
Consolidated Balance Sheet
Consolidated Balance Sheet is a statement that shows the financial position of a parent company and its subsidiary companies at a specified date by listing the assets balance and the claim on such assets.
Calculation of
E.
To determine
Consolidated Balance Sheet
Consolidated Balance Sheet is a statement that shows the financial position of a parent company and its subsidiary companies at a specified date by listing the assets balance and the claim on such assets.
Calculation of Investment in S’s Corporation to be reported in the consolidated balance sheet.
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ABC Corporation acquired 70 percent of XYZ Corporation on August 1 for P420,000. On that date, XYZ Corporation had the following book values and market values. What is the amount of purchase differential recognized on the acquisition date consolidated balance sheet with respect to plant assets.
*In good accounting form, please. Thank you!
Constructing the Consolidated Balance Sheet at Acquisition
On January 1 of the current year, Healy Company purchased all of the common shares of Miller Company for $500,000 cash. Balance sheets of the two firms immediately after the acquisition follow:
During purchase negotiations, Miller's plant assets were appraised at $425,000 and all of its remaining assets and liabilities were appraised at values approximating their book values. Healy also concluded that an
additional $85,000 (for goodwill) demanded by Miller's shareholders was warranted because Miller's earning power was better than the industry average.
Prepare the consolidating adjustments and the consolidated balance sheet at acquisition.
Use negative signs with consolidating adjustment answers, when appropriate.
Current assets
Investment in Miller
Healy Miller Consolidating Consolidated
Company Company Adjustments Balance Sheet
$1,400,000 $80,000
$
500,000
3,000,000 410,000
Plant assets, net
Goodwill
Total assets
$4,900,000…
Professor Corporation acquired 70 percent of Scholar Corporation's common stock on December 31, 20X4, for $102,200. The fair
value of the noncontrolling interest at that date was determined to be $43,800. Data from the balance sheets of the two companies
included the following amounts as of the date of acquisition:
Item
Cash
Accounts Receivable
Inventory
Land
Buildings & Equipment
Less: Accumulated Depreciation
Investment in Scholar Corporation
Total Assets
Accounts Payable
Mortgage Payable
Common Stock
Retained Earnings
Total Liabilities & Stockholders' Equity
Assets
Cash
Professor Scholar
Corporation Corporation
$50,300
Accounts receivable
Inventory
Land
Buildings and equipment
Less: Accumulated depreciation
Investment in Scholar Corporation
Total Assets
Liabilities & Equity
Accounts payable
Mortgage payable
Common stock
Retained earnings
NCI in Net assets of Scholar Corporation
Total Liabilities & Equity
90,000
130,000
60,000
410,000
(150,000)
102,200
$ 692,500
$152,500
250,000…
Chapter 4 Solutions
Advanced Financial Accounting
Ch. 4 - When is the carrying value of the investment...Ch. 4 - What is a differential? How is a differential...Ch. 4 - Prob. 4.3QCh. 4 - Prob. 4.4QCh. 4 - Prob. 4.5QCh. 4 - Prob. 4.6QCh. 4 - Prob. 4.7QCh. 4 - Prob. 4.8QCh. 4 - Prob. 4.9QCh. 4 - Prob. 4.10Q
Ch. 4 - Prob. 4.11QCh. 4 - What determines whether the balance assigned to...Ch. 4 - What does the termpushdown accountingmean?Ch. 4 - Under what conditions is push-down accounting...Ch. 4 - Prob. 4.15QCh. 4 - Prob. 4.2CCh. 4 - Prob. 4.3CCh. 4 - Prob. 4.4CCh. 4 - Prob. 4.1ECh. 4 - Prob. 4.2ECh. 4 - Prob. 4.3ECh. 4 - Prob. 4.4ECh. 4 - Prob. 4.5ECh. 4 - Prob. 4.6ECh. 4 - Prob. 4.7ECh. 4 - Prob. 4.8ECh. 4 - Prob. 4.9ECh. 4 - Prob. 4.10.1ECh. 4 - Prob. 4.10.2ECh. 4 - Prob. 4.10.3ECh. 4 - Prob. 4.10.4ECh. 4 - Prob. 4.10.5ECh. 4 - Prob. 4.11.1ECh. 4 - Prob. 4.11.2ECh. 4 - Prob. 4.11.3ECh. 4 - Prob. 4.11.4ECh. 4 - Prob. 4.12ECh. 4 - Prob. 4.13ECh. 4 - Prob. 4.14ECh. 4 - Prob. 4.15ECh. 4 - Prob. 4.16ECh. 4 - Prob. 4.17ECh. 4 - Prob. 4.18.1ECh. 4 - Prob. 4.18.2ECh. 4 - Prob. 4.18.3ECh. 4 - Prob. 4.18.4ECh. 4 - Prob. 4.18.5ECh. 4 - Prob. 4.18.6ECh. 4 - Prob. 4.19ECh. 4 - Prob. 4.20ECh. 4 - Prob. 4.21ECh. 4 - Prob. 4.22ECh. 4 - Prob. 4.23ECh. 4 - Prob. 4.24AECh. 4 - Prob. 4.25PCh. 4 - Prob. 4.26PCh. 4 - Prob. 4.27PCh. 4 - Consolidated Balance Sheet Powder Company spent...Ch. 4 - Prob. 4.29PCh. 4 - Prob. 4.30PCh. 4 - Prob. 4.31PCh. 4 - Prob. 4.32PCh. 4 - Prob. 4.33PCh. 4 - Prob. 4.34PCh. 4 - Prob. 4.35PCh. 4 - Prob. 4.36PCh. 4 - Prob. 4.37AP
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