截屏2022-12-03 下午5

QUESTION 13 On January 1, 20X7, Poke Corporation acquired 25 percent of the outstanding shares of Shove Corporation for $100,000 cash. Shove Company reported net income of $75,000 and paid dividends of $30,000 for both 20X7 and 20X8. The fair value of shares held by Poke was $110,000 and $105,000 on December 31, 20X7 and 20X8 respectively.Based on the preceding information, what amount will be reported by Poke as income from its investment in Shove for 20X8, if it used the equity method of accounting?     $11,250     $7,500     $26,250     $18,750

last two questions

QUESTION 15 On January 1, 20X7, Poke Corporation acquired 25 percent of the outstanding shares of Shove Corporation for $100,000 cash. Shove Company reported net income of $75,000 and paid dividends of $30,000 for both 20X7 and 20X8. The fair value of shares held by Poke was $110,000 and $105,000 on December 31, 20X7 and 20X8 respectively.If instead, Poke could not exercise significant influence over the investee, by what amount will Poke's 20X7 income increase due to its investment in Shove?     $7,500     $12,500     $17,500     $11,250

first two questions

QUESTION 16 On January 1, 20X7, Poke Corporation acquired 25 percent of the outstanding shares of Shove Corporation for $100,000 cash. Shove Company reported net income of $75,000 and paid dividends of $30,000 for both 20X7 and 20X8. The fair value of shares held by Poke was $110,000 and $105,000 on December 31, 20X7 and 20X8 respectively.If instead, Poke could not exercise significant influence over the investee, what amount will be reported by Poke as balance in investment in Shove on December 31, 20X8?     $122,500     $118,750     $105,000     $100,000

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QUESTION 1 Plum Corporation acquired 80 percent of Saucy Corporation's common shares on January 1, 20X7, at underlying book value. At that date, the fair value of the noncontrolling interest was equal to 20 percent of the book value of Saucy Corporation. Saucy prepared the following balance sheet as of December 31, 20X8: Cash $70,000 Accounts Payable Bonds Payable $60,000 $80,000 $300,000 ($120,000) $390,000 Accounts Receivable Inventory Buildings and Equipment Less: Accumulated Depreciation Total Assets A) B) Common Stock Additional Paid-In Capital Retained Earnings Total Liabilities and Equities On January 1, 20X9, Saucy declares a stock dividend of 3,000 shares on its $5 par value common stock. The current market price per share of Saucy stock on January 1, 20X9, is $20. The investment elimination entry required to prepare a consolidated balance sheet immediately after the stock dividend is issued will include a debit to Additional Paid-In Capital for: $65,000. $95,000. $50,000.…

QUESTION 17 On January 1, 20X9, Pirate Corporation acquired 80 percent of Sea-Gull Company's common stock for $160,000 cash. The fair value of the noncontrolling interest at that date was determined to be $40,000. Data from the balance sheets of the two companies included the following amounts as of the date of acquisition:    Pirate Corp. Sea-Gull Corp. Cash   $ 60,000       $ 20,000     Accounts Receivable     80,000         30,000     Inventory     90,000         40,000     Land     100,000         40,000     Buildings and Equipment     200,000         150,000     Less: Accumulated Depreciation     (80,000 )       (50,000 )   Investment in Sea-Gull Corp.     160,000               Total Assets   $ 610,000       $ 230,000                           Accounts Payable   $ 110,000       $ 30,000     Bonds Payable     95,000         40,000     Common Stock     200,000         40,000     Retained Earnings     205,000         120,000     Total Liabilities…

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QUESTION 18 On January 1, 20X9, Pirate Corporation acquired 80 percent of Sea-Gull Company's common stock for $160,000 cash. The fair value of the noncontrolling interest at that date was determined to be $40,000. Data from the balance sheets of the two companies included the following amounts as of the date of acquisition:    Pirate Corp. Sea-Gull Corp. Cash   $ 60,000       $ 20,000     Accounts Receivable     80,000         30,000     Inventory     90,000         40,000     Land     100,000         40,000     Buildings and Equipment     200,000         150,000     Less: Accumulated Depreciation     (80,000 )       (50,000 )   Investment in Sea-Gull Corp.     160,000               Total Assets   $ 610,000       $ 230,000                           Accounts Payable   $ 110,000       $ 30,000     Bonds Payable     95,000         40,000     Common Stock     200,000         40,000     Retained Earnings     205,000         120,000     Total Liabilities…

QUESTION 21 On January 1, 20X9, Pirate Corporation acquired 80 percent of Sea-Gull Company's common stock for $160,000 cash. The fair value of the noncontrolling interest at that date was determined to be $40,000. Data from the balance sheets of the two companies included the following amounts as of the date of acquisition:    Pirate Corp. Sea-Gull Corp. Cash   $ 60,000       $ 20,000     Accounts Receivable     80,000         30,000     Inventory     90,000         40,000     Land     100,000         40,000     Buildings and Equipment     200,000         150,000     Less: Accumulated Depreciation     (80,000 )       (50,000 )   Investment in Sea-Gull Corp.     160,000               Total Assets   $ 610,000       $ 230,000                           Accounts Payable   $ 110,000       $ 30,000     Bonds Payable     95,000         40,000     Common Stock     200,000         40,000     Retained Earnings     205,000         120,000     Total Liabilities…

QUESTION 19 On January 1, 20X9, Pirate Corporation acquired 80 percent of Sea-Gull Company's common stock for $160,000 cash. The fair value of the noncontrolling interest at that date was determined to be $40,000. Data from the balance sheets of the two companies included the following amounts as of the date of acquisition:    Pirate Corp. Sea-Gull Corp. Cash   $ 60,000       $ 20,000     Accounts Receivable     80,000         30,000     Inventory     90,000         40,000     Land     100,000         40,000     Buildings and Equipment     200,000         150,000     Less: Accumulated Depreciation     (80,000 )       (50,000 )   Investment in Sea-Gull Corp.     160,000               Total Assets   $ 610,000       $ 230,000                           Accounts Payable   $ 110,000       $ 30,000     Bonds Payable     95,000         40,000     Common Stock     200,000         40,000     Retained Earnings     205,000         120,000     Total Liabilities…

QUESTION 20 On January 1, 20X9, Pirate Corporation acquired 80 percent of Sea-Gull Company's common stock for $160,000 cash. The fair value of the noncontrolling interest at that date was determined to be $40,000. Data from the balance sheets of the two companies included the following amounts as of the date of acquisition:    Pirate Corp. Sea-Gull Corp. Cash   $ 60,000       $ 20,000     Accounts Receivable     80,000         30,000     Inventory     90,000         40,000     Land     100,000         40,000     Buildings and Equipment     200,000         150,000     Less: Accumulated Depreciation     (80,000 )       (50,000 )   Investment in Sea-Gull Corp.     160,000               Total Assets   $ 610,000       $ 230,000                           Accounts Payable   $ 110,000       $ 30,000     Bonds Payable     95,000         40,000     Common Stock     200,000         40,000     Retained Earnings     205,000         120,000     Total Liabilities…

unc.4   On January 1, Allen Corporation purchased 30% of the 30,000 outstanding common shares of Towne Corporation at $17 per share as a long-term investment. On the date of purchase, the book value and the fair value of the net assets of Towne Corporation were equal. During the year, Towne Corporation reported net income of $24,000 and declared and paid dividends of $8,000. As of December 31, common shares of Towne Corporation were trading at $20 per share. Please Indicate the amount of income that would be reported on the income statement and the investment balance on the year-end balance sheet under requirement (a) and requirement (b).

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On 1 January 20XO Alpha Co purchased 90,000 ordinary $1 shares in Beta Co for $270,000. At that date Beta Co's retained earnings amounted to $90,000 and the fair values of Beta Co's assets at acquisition were equal to their book values. Three years later, on 31 December 20X2, the statements of financial position of the two companies were: Alpha Co Beta Co Sundry net assets Shares in Beta 230,000 180,000 410,000 260,000 260,000 Share capital Ordinary shares of $1 each Retained earnings 200,000 100,000 210,000 410,000 160,000 260,000 The share capital of Beta Co has remained unchanged since 1 January 20X0. The fair value of the non- controlling interest at acquisition was $42,000. Required: a. What amount should appear in the group's consolidated statement of financial position at 31 December 20X2 for goodwill? b. What amount should appear in the group's consolidated statement of financial position at 31 December 20X2 for non-controlling interest? c. What amount should appear in the…

On January 1, 20x1, ABC Co. acquired 80% interest in XYZ, Inc. by issuing 5,000 shares with fair value of P30 per share and par value of P20 per share. The financial statements of ABC Co. and XYZ, Inc. immediately after the acquisition are shown below: Jan. 1, 20x1ABC Co. XYZ, Inc.Cash 20,000 10,000Accounts receivable 60,000 24,000Inventory 80,000 46,000Investment in subsidiary 150,000 Equipment 400,000 100,000Accumulated depreciation (40,000) (20,000)Total assets 670,000 160,000Accounts payable 40,000 12,000Bonds payable 60,000 -Share capital 340,000 100,000Share premium 130,000 -Retained earnings 100,000 48,000Total liabilities and equity 670,000 160,000 On January 1, 20x1, the fair value of the assets and liabilities of XYZ, Inc. were determined by appraisal, as follows:XYZ, Inc. Carrying amounts Fair values Fair value incrementCash 10,000 10,000 -Accounts receivable 24,000 24,000 -Inventory 46,000 62,000 16,000Equipment 100,000 120,000 20,000Accumulated depreciation (20,000)…

Gant Company purchased 30 percent of the outstanding shares of Temp Company for $76,000 on January 1, 20X6. The following results are reported for Temp Company: Net income Dividends paid Fair value of shares held by Gant: January 1 December 31 a. Carries the investment at fair value. b. Uses the equity method. Required A Required B 20X6 $ 47,000 14,000 76,000 95,000 Income from investment Balance in investment Required: Determine the amounts reported by Gant as income from its investment in Temp for each year and the balance in Gant's investment in Temp at the end of each year assuming that Gant uses the following options in accounting for its investment in Temp: Complete this question by entering your answers in the tabs below. 20X6 20X7 $ 42,000 30,000 95,000 92,000 20X7 Determine the amounts reported by Gant as income from its investment in Temp for each year and the balance in Gant's investment in Temp at the end of each year assuming that Gant uses the equity method in accounting…

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On 1 January 20X0 Alpha Co purchased 90,000 ordinary $1 shares in Beta Co for $270,000. At that date Beta Co's retained earnings amounted to $90,000 and the fair values of Beta Co's assets at acquisition were equal to their book values. Three years later, on 31 December 20X2, the statements of financial position of the two companies were:                                                                                              Alpha Co                               Beta Co                                                                                                    $                                          $ Sundry net assets                                                                230,000                                  260,000 Shares in Beto                                                                     180,000                                       -   Share capital  Ordinary shares of $1 each                                                  200,000…

On 1 January 20X0 Alpha Co purchased 90,000 ordinary $1 shares in Beta Co for $270,000. At that date Beta Co's retained earnings amounted to $90,000 and the fair values of Beta Co's assets at acquisition were equal to their book values. Three years later, on 31 December 20X2, the statements of financial position of the two companies were:                                                                                              Alpha Co                               Beta Co                                                                                                    $                                          $ Sundry net assets                                                                230,000                                  260,000 Shares in Beto                                                                     180,000                                       -   Share capital  Ordinary shares of $1 each                                                  200,000…

Item 7   On January 1, 20X1, the Husky Corporation acquired 90% of the Spartan Company’s voting stock for $2,700,000. Spartan’s net assets had a book value of $2,450,000; the fair value of Spartan’s building was $325,000 greater than its book value. The book value of Husky’s net assets immediately after the acquisition of Spartan totaled $6,850,000.What is total stockholders’ equity on the January 1, 20X1 consolidated balance sheet?   Multiple Choice $9,300,000   $6,850,000 $7,150,000   $7,120,000

The Profit attributable to equity holders of parent (Parent’s Interests/Controlling Interest in Profit) for 20x1:   A. 356,500 B. 362,200 C. 363,075 D. 386,500

49 On May 1, 20x1, Sun Co. acquires additional 12,000 shares of Day Co. at P90 per share, the fair value on this date. The acquisition results in Sun Co. obtaining significant influence over Day Co. Day Co.'s total outstanding shares remain at 100,000. Day Co. reports 20x1 profit of P3,300,000 (earned eveniy during the year) and declares and pays P600,000 cash dividends at year-end. Day Co.'s shares are quoted at P92 per share on Dec. 31, 20x1. How much are reported in Sun Co.'s Dec. 31, 20x1 financial statements for the following? Share in profit of associate a. 660,000 b. 660,000 c. 528,000 d. 440,000 ,under Investments in Associates is date. 2z rep ividend ned en er shan ect of Investment in associate 1,620,000 2,420 1,840,000 2,208,000 2,120,000 Teg C f sale i Cheye

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Gant Company purchased 30 percent of the outstanding shares of Temp Company for $77,000 on January 1, 20X6. The following results are reported for Temp Company:   20X6 20X7 20X8 Net income $ 44,000 $ 39,000 $ 53,000 Dividends paid 11,000 26,000 16,000 Fair value of shares held by Gant:       January 1 77,000 96,000 93,000 December 31 96,000 93,000 104,000 Required: Determine the amounts reported by Gant as income from its investment in Temp for each year and the balance in Gant’s investment in Temp at the end of each year assuming that Gant uses the following options in accounting for its investment in Temp: Carries the investment at fair value. Uses the equity method.

Gant Company purchased 30 percent of the outstanding shares of Temp Company for $74,000 on January 1, 20X6. The following results are reported for Temp Company: 20X6 Net income $ 46,000 20X7 $ 41,000 Dividends paid 20X8 $ 53,000 12,000 29,000 17,000 Fair value of shares held by Gant: January 1 74,000 93,000 90,000 December 31 93,000 90,000 101,000 Required: Determine the amounts reported by Gant as income from its investment in Temp for each year and the balance in Gant's investment in Temp at the end of each year assuming that Gant uses the following options in accounting for its investment in Temp: a. Carries the investment at fair value. b. Uses the equity method. Complete this question by entering your answers in the tabs below. Required A Required B Determine the amounts reported by Gant as income from its investment in Temp for each year and the balance in Gant's investment in Temp at the end of each year assuming that Gant uses the equity method in accounting for its investment…

Subject- accounting

a1

The non-controlling interest on December 31, 20x1   A. 208,700 B. 189,300 C. 174,900 D. 173,100

January 1, 20x1, Peter Corp. acquired the identifiable net assets of Ella Corp. by paying cash of P1,500,000; issuing 50,000 ordinary shares with a market value of P60 per share. Peter paid the broker's fee of P25,000; cost if SEC registration of shares issued amounting to P2,000 and indirect cost of P5,000. The book values of assets of Peter and Ella are P15,200,000 and P2,500,000, respectively, and the book values of liability of Peter and Ella are P4,000,000 and P800,000. The book value reflects fair value of assets and liabilities except that the current asset of Peter is overvalued by P200,000 and non-current asset of Ella Corp is undervalued by P500,000. Peter Corp. has estimated P400,000 representing cost of exiting the activity of Ella Corp such as: cost of terminating employees and the cost of relocating terminated employees of Ella. The agreement also provides that Peter Corp shall pay cash on January 10, 20x1, equal 120% of the amount by which December 31, 20x1, earnings of…

Question 17 Pain Corporation holds 90 percent of Soothing Company's common shares but none of its preferred shares. On the date of acquisition, the fair value of the noncontrolling interest was equal to 10 percent of the book value of Soothing Company. Summary balance sheets for the companies on December 31, 20X8, are as follows:   Pain Corporation Soothing Company Cash and Receivables $ 80,000 $ 70,000 Inventory   40,000   30,000 Buildings and Equipment (net)   160,000   150,000 Investment in Soothing Company   135,000   0 Total Assets $ 415,000 $ 250,000 Accounts Payable   50,000 $ 25,000 Preferred Stock ($10 par value)   50,000   75,000 Common Stock ($5 par value)   100,000   50,000 Retained Earnings   215,000   100,000 Total Liabilities and Owners’ Equity $ 415,000 $ 250,000   Pain's preferred pays a 8 percent annual dividend, and Soothing's…

Dd.91.

1. Matray acquired 16,000 ordinary shares of Petros on 1 April 20X9. On 31 December 20X8Petros’s accounts showed a share premium of $4,000 and retained earnings of $15,000. The fairmarket value of non-controlling interest at acquisition was $7,000.Below are the statements of financial position for the two companies as at 31 December 20X9:Matray PetrosNon-current assets:Property, plant and equipment 39,000 33,000Investment in Petros 50,000Current assets 78,000 40,000Total assets 167,000 73,000Equity and liabilitiesEquityOrdinary shares of: $1 each 100,000: 50c each 10,000Share premium 7,000 4,000Retained earnings 40,000 39,000Current liabilities 20,000 20,000Total equity and liabilities 167,000 73,000Required:Prepare the consolidated statement of financial position of Matray as at 31 December 20X9. Assumeprofits have accrued evenly throughout the year

Donna Co acquired 80% of the equity share capital of Blitsen Co on 1 January 20X4 when the retained earnings of Blitsen Co were $40,000. The fair value of the non-controlling interest at this date was $25,000. At 31 December 20X4, the equity capital of Blitsen Co was as follows: $’000 Share capital 40 Share premium 10 Retained earnings 60 110 During the year Blitsen Co sold goods to Donna Co for $20,000. This price included a mark-up of $12,000 for profit. At 31 December 20X4, 50% of these goods remained unsold in the inventory of Donna Co. What is the value of the non-controlling interest in the Donna Group at 31 December 20X4, for the purpose of preparing the consolidated statement of financial position? A $20,800 B $27,800 C $26,600 D $29,000