12 On 1/1/2018, P Company acquired 80% of S Company for 400000 JD. Book value of S on 1/1/2018 was consisted of common stock of 257000 and Retained earnings of ????. During 2018, P recorded income 20000 JD and dividends 5000 JD. During 2019, P recoded income 40000 JD and 8000 dividends. . Retained earnings on 31/12/2019 is 300000 JD. Compute investment balance on 31/12/2019 (do not forget: it is the same investment balance on 1/1/2020). Select one: a. 445600 b. 441600 c. 437600 d. 433600

Q: Oryx Co. acquired all of the common stock of Crake Co. on January 1, 2018. As of that date, Crake…

A: Journal Entries - It is record of every business transaction in day to day life whether it is…

Q: GBX Corporation acquired 80% of the outstanding shares of UMD Company on June 1, 2017 for…

A: Non-controlling interest includes those shareholders who own less than 50% of the outstanding shares…

Q: Miller Corporation acquired 30% of the outstanding common stock of Crowell Corporation for $160,000…

A: The answer is as fallows

Q: Stellar Co. acquired 25% of the 500,000 shares of outstanding common stock of Overload Inc. on…

A: Securities available for sale are those debt or equity securities investments made by the company…

Q: ary 1, 2020, Levesque Co. purchased 500,000 ordinar at P14 per share, representing a 25% ownership…

A: Introduction: Investment income is described as the amount which a person or institution gains on…

Q: January 2, 2020, P Company acquired 80% investment in S Company. The acquisition cost was equal to P…

A: The question is related to Consolidation. The details are as under  Share of P in S Company  = 80%…

Q: 16: On July 1, 2015, Cleopatra Corporation acquired 25% of the shares of Marcus, Inc. for…

A: The investment in Associate company gets increased with profits and decreased with losses.

Q: 19. On January 5, 2020, Alpha Company acquired 100% of the shares of Beta Company for an amount…

A: Purchase Consideration = P300,000 + Book value of interest acquired ( book value of net identifiable…

Q: . On December 31, 2021, the carrying amount of the investment is BC Company purchased 25% of the…

A: Solution Concept Investment In associate The investment in associate is recorded at cost on initial…

Q: On January 1, 2018, ABC Company purchased 40,000 shares of RST at P100 per share. The investment in…

A: Measurements of Investment-: In addition to common deviation, a bond's or bond fund's risk is…

Q: On January 1, 2018 Axe Company purchased of 20% of Lax Company’s ordinary shares outstanding for 6…

A: Solution:- Calculation of the balance in investment on December 31, 2018 as follows under:-

Q: On January 1, 2020, Parent Company acquired 80% of the common stock of Subsidiary Company for…

A: A fair value allocation and goodwill schedule is a schedule that presents the calculation of the…

Q: Company acquires 35% of the 100,000 outstanding shares of Happy Company for P1,200,000.  Happy…

A: when company acquire  certain percentage of share in another company the company share the profit…

Q: areholders' equity was P5,000,000. The carrying amount of Al's identifiable net assets approximated…

A: Carrying amount of investment = carrying amount + profit - dividend  = P2000000 + P800000 - P100000…

Q: 38. On March 1, 2022, Dolor Company purchased 5,000 shares of Susan Incorporated paying P12 each…

A: As per IAS 39, Financial instrument recognition  and measurement,  Investment in equity shares can…

Q: On January 1, 2018, Pine Company owns 40 percent (40,000 shares) of Seacrest, Inc., which it…

A: Equity method: Equity method is the method used for accounting equity investments which claim a…

Q: 1. On 1 January 2019, Pitty Ltd purchased 30% of the shares in Annah Ltd for P700, 000. At this…

A: Value of net assets of annah ltdas on 31/12/2019.                       P1500000       30% of net…

Q: On January 2, 2020, P Company acquired 80% investment in S Company. The acquisition cost was equal…

A: Retained Earnings For the consolidated retained earnings the parent company retained earnings and…

Q: y share capital. The investee reported net income of P6,000,000 for 2021. No dividend was declared…

A: Chevy Co  owns 50% of another entity's Pref. Share Capital .  The Pref. Shares are 10%…

Q: Aurum Services, Inc. acquired 100,000 shares of Gamma Metals, Inc. on January 1, 2017. Gamma pays a…

A: Aurum services acquired 100000 shares on gamma metals  and receive a cash dividend from gamma…

Q: Choose the correct answer: Westlife Company acquired on July 1, 2020, 30,000 ordinary shares of…

A: Dividend income is paid by company to its shareholders. Dividend income is considered income for the…

Q: On January 1, 2018, Any Company paid P18,000,000 for 50,000 ordinary shares of Josh Company which…

A: Solution: Investment balance on Dec 31, 2018 = cash paid for investment + share in net income -…

Q: On January 2, 2019. Parent Co. acquired all the outstanding common stock of Subsidiary Co. for…

A: Goodwill is calculated by subtracting the fair value of net assets identified from the sum of…

Q: On January 1, 2015, Artic Company acquires an 80% interest in Calco Company for $400,000. On the…

A:

Q: SD acquired the net assets of both GM and SR. Paying cash in the amount of P185,000 and by issuing…

A: Solution Calculation of purchase consideration paid by SD- Particulars To GM To SR Total Cash…

Q: On January 1, 2018, Pine Company owns 40 percent (40,000 shares) of Seacrest, Inc., which it…

A: Equity method:   Common accounting technique used by the organization to get the access on profits…

Q: How much is the non- controlling interest in net assets on December 31, 2016?

A: Galaxy corporation acquired 80% of the outstanding shares of united company on June 1, 2016 for…

Q: As of December 31, 2018, Sadaf Oman Company reported assets of RO 1,700,000. share capital of RO…

A: As per accounting equation, assets equals to sum of liabilities and shareholders equity.

Q: Agee Corporation acquired a 30% interest in Trent Company on January 1, 2018 for $490,000. At that…

A: Shareholder's equity are also called as Stockholder's equity and it is the remaining amount the…

Q: Miller Corporation acquired 30% of the outstanding common stock of Crowell Corporation for $170,000…

A: Journal entry shows the recording of a transaction in the accounting system for an organization.

Q: Nick Ltd acquired 100% of the issued capital of Wing Ltd on 1 July 2011 for $270000. The statements…

A: Usually, consolidation of companies takes place to make the existing companies stronger.

Q: B Company had the following transactions: 2018 Aug-01 Purchased 1,000 shares of Star Company for…

A: Step 1 Non current investment is the investment which are not held for sale but kept to long term…

Q: During 2021 Carla Vista Company purchased 10700 shares of Kingbird Inc. for $37 per share. During…

A: Purchased 10700 shares @$37 per share Sold 2850 shares @$42 per share Market price at 31 December…

Q: Omega Company acquired 20,000 shares of Zion Company on January 1, 2019 at P150 per share. Zion…

A: Since you have asked a question with multiple sub parts, we will answer the first 3 sub parts of the…

Q: On January 1, 2020, MNO Company acquired 250,000 ordinary shares of PQR Company at P45 per share. At…

A: On January 1, 2020, MNO Company acquired 250,000 ordinary shares of PQR Company at P45 per share.At…

Q: B.On January 1, 2021, LASER LTD. acquired 70% of outstanding ordinary shares of JUSTICE INC. at a…

A: In the given question, we are provided with the data of Laser Ltd. With the given data we are…

Q: During 2021 Blossom Company purchased 8700 shares of Nash Inc. for $17 per share. During the year…

A: Net gain / loss = Gain/loss on shares sold + Unrealized gain/loss on shares held

Q: Prepare the journal entries that would be booked in Parent Inc. from the acquisition the…

A: Consolidation: A process under which one company acquires or gets merged with another business…

Q: Entity G acquired a 40% interest in Pokus Corp. for P1,700,000 on January 1,2021. The shareholders'…

A: Equity Method: The equity method of bookkeeping is the most common way of treating interests in…

Q: On January 01, 2018, P Company acquired 80% of the outstanding stock of S Company for P3,400,000. On…

A: According to IFRS 3, Acquisition-related costs incurred by the acquiring company to effect the…

Q: Station Land Manufacturing acquired a 30% interest in the outstanding stock of Performer Fiberglass…

A: Step 1 Investment in control when one entity acquires more  the 50% voting right or controlling…

Q: On January 1, 2021, XXX Company acquired 200,000 shares at $ 100 per share of ZZZ Inc., which…

A: when a company acquired 20% to 50% share of company it has significant influence over the company…

Q: 22-On January, 2019, ABC Company acquired 30% percent of the voting shares of XYZ Company for OMR…

A:

Q: January 1, 2021 Co. acquired 80% interest in XYZ, Inc. by issuing 5,000 shares with fair value of…

A: PLEASE LIKE THE ANSWER YOUR RESPONSE MATTERS  Acquisition of assets and liabilities at fair values :…

Q: On 1/1/2019 P Company acquired 70% of S company for 400000 JD. On 31/12/2019 S company reported net…

A: Investments are the allocation of funds in different alternate sources so that those funds can…

Q: On January 1, 2021, ABC Co. acquired 80% interest in XYz, Inc. by issuing 5,000 shares with fair…

A: An acquisition is the process of acquiring more than 50% of shares of one company by the other…

Q: P Company acquired 70% of the ordinary shares of S Company at a time when S Company’s book values…

A: Consolidated cost of sales = Cost of sales of S + Cost of sales of P - Cost of sales by P to S

Q: Mercedes Co. acquired all of the common stock of Tesla Co. on January 1, 2018. As of that date,…

A: Solution A journal is a company's official book in which all business transaction are recorded in…

Q: P COMPANY acquired 2,000 voting shares of S COMPANY at P100 per share. Balance sheet of both…

A: Working note: Computation of fair value of the identifiable net assets of S company: Computation…

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.