Book Values $ 60,000 Falr Values Current assets $ 60,000 Building.. Land... Trademark Goodwill . Liabilities.. Common stock Retained earnings. 90,000 10,000 50,000 20,000 30,000 -0- 15,000 (40,000) (100,000) (35,000) (40,000)

Q: On January 1, 2021, ABC Company acquired all of the assets and assumed all of the liabilities of…

A: P1,280,000

Q: Pratt Company acquired all of Spider, Inc.’s outstanding shares on December 31, 2018, for $495,000…

A: Goodwill Calculation Amount $ Sales consideration (A)   495000 Book value ($350000…

Q: On January 1, 2015, Pomegranate Company acquired 80% of the voting stock of Starfruit Company for…

A: Non-controlling interest relates to a situation of possession in which a shareholder holds less than…

Q: On January 1, 2021, ABC Company acquired all of the assets and assumed all of the liabilities of…

A: SOLUTION GOODWILL IS AN INTANGIBLE ASSETS THAT ACCOUNTS FOR EXCESS PURCHASE PRICE OF ANOTHER…

Q: On January 2, 2019, U Co. purchased 75% of the outstanding shares of N Co. resulting to a goodwill…

A: In the context of the given question, we are required to compute the non-controlling interest's net…

Q: On January 1, 2020, Shell Corporation acquired the net assets of Petron Inc. The acquirer…

A: 1. Value of contingent consideration shall be the additional pay of P 1500000 which would be paid if…

Q: On January 2, 2019, U Co. purchased 75% of the outstanding shares of N Co. resulting to a goodwill…

A: Consolidation statement- Consolidated financial statements include the parent company's financial…

Q: Duko Corporation is acquiring the net assets, exclusive of cash, of Weber Company as of January 1,…

A: 1) Gain on acquisition : Therefore, gain on acquisition is $210,000. WORKINGS ARE: WORKINGS:

Q: In a pre-2009 business combination, Acme Company acquired all of Brem Company’s assets and…

A: Given information is: In a pre-2009 business combination, Acme Company acquired all of Brem…

Q: On January 2, 2019, U Co. purchased 75% of the outstanding shares of N Co. resulting to a goodwill…

A: Equity shareholder's net income is the net income of the parent adjusted for the intercompany…

Q: Allerton Company acquires all of Deluxe Company’s assets and liabilities for cash on January 1,…

A: FV of assets=Current assets+Building+Land+Trademark=$53,500+$47,750+$41,250+$39,300=$181,800

Q: will enter into liquidation and DIAPHANOUS agreed to reimburse TRANSPARENT for liquidation costs…

A: Computation of Purchase Consideration = 4,000,000 + 200,000 = 4,200,000

Q: On January 1, 2025, Lili Company acquired the identifiable net assets of Jen Inc. On this date, the…

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

Q: On January 1, 20x1, DIAPHANOUS Co. acquired all of the identifiable assets and assumed all of the…

A: The consideration transferred on the business combination is computed as follows:   Amount Cash…

Q: Grand Champion Inc. purchased America’s Sweethearts Corporation on January 1, 2019. At the time,…

A: Goodwill refers to an asset which intangible in nature and in simple terms can be regarded as the…

Q: Born Company acquires an 80% interest in Roland Company for $660,000 cash on January 1, 2017. The…

A: Business combination:   Business combination refers to the combining of one or more business…

Q: ,000 in cash. Allison intends to maintain Mathias as a wholly owned subsidiary. Both companies have…

A: Consolidation When a company acquires 50% or more shares of other company and due to this…

Q: On May 1, 2021, Jazzie Co. agreed to sell the assets of its Mister Division to Shawna Inc. for $80…

A: SOLUTION- LOSS FROM DISCONTINUED OPERATIONS IS A LINE ITEM IN INCOME STATEMENT OF A COMPANY BELOW…

Q: Allerton Company acquires all of Deluxe Company’s assets and liabilities for cash on January 1,…

A: The question says to record the Acquisition of Deluxe company . There are two situations :- Cash…

Q: on for the business combination, ABC Co. incurred transaction costs amounting to ₱400,000 for legal,…

A: GOODWILL IS AN INTANGIBLE ASSETS THAT ACCOUNTS FOR EXCESS PURCHASE PRICE OF ANOTHER COMPANY.

Q: On January 1, 2022, the Acts Co. acquired 100% of the Titus Co. when the fair value of Titus net…

A: Acquisition Goodwill:  Generally speaking, goodwill is an intangible asset that is related with the…

Q: On January 2, 2019, U Co. purchased 75% of the outstanding shares of N Co. resulting to a goodwill…

A: In the context of the given question, we are required to compute the total gross profit realized…

Q: On September 1, 20Y8, Vernon Corporation acquired Barlow Enterprises for a cash payment of…

A: Purchase Consideration   2,300,000 Less: Net Assets of Barlow Enterprises   1,500,000 Goodwill…

Q: Prepare Allerton’s entry to record its acquisition of Deluxe in its accounting records assuming the…

A: Goodwill = Fair value of consideration transferred - Fair value of net identifiable assets Gain on…

Q: Accounting On October 1, 2019, Paul Inc. acquired 80% of Sam Co. by paying $500,000 cash. At that…

A:

Q: P Company wishes to acquire S Co. for cash in an asset acquisition, and appraisals reveal that the…

A: Goodwill on acquisition is arising on paying the amount over the net identifiable assets of the…

Q: On May 1 Foxtrot Co. agreed to sell the assets of its Footwear Division to Albanese Inc. for $80…

A: Operations that will not be part of future business operations are known as discontinued operations.…

Q: On May 1, Foxtrot Co. agreed to sell the assets of its Footwear Division to Albanese Inc. for $80…

A: Sale amount for assets= $80 million Book value of assets= $48 million Operating income in form of…

Q: On January 1, 2021 Major acquired 60% of Minor for a cash payment of $600,000. At date of…

A: Formula: Goodwill = Purchase price - Fair value of Assets

Q: On July 1, 2022 the ABC Company acquired the net assets of XYZ Company for P8,000,000. The recorded…

A: Goodwill means the reputation of the company due to any factor like location , product , price ,…

Q: the acquisition, the two companies have the following account balances. Clay’s equipment (with a…

A: Consolidated Statements: Consolidated statements are reports that can be utilized when the parent…

Q: ABC and XYZ Inc had the following balance sheets on December 31, 2021: (see image below) On January…

A: solution given Purchase price 40000 Fair value of current assets of XYZ 26000 Fair…

Q: Arizona Corp. acquired the business Data Systems for $320,000 cash and assumed all liabilities at…

A: a. Calculate the goodwill for Arizona Corporation.

Q: Allerton Company acquires all of Deluxe Company’s assets and liabilities for cash on January 1,…

A: Solution:- A)Preparation of Allerton’s entry to record its acquisition of Deluxe in its accounting…

Q: Putin Company acquired the assets and assumed the liabilities of Joni Company on January 1, 2018,…

A: Journal entries are recording of the transaction in the accounting journal in a chronological order.…

Q: On January 2, 2019, U Co. purchased 75% of the outstanding shares of N Co. resulting to a goodwill…

A: The following formulas are used to calculate the requirements of the question:- 1. Income of…

Q: On May 1, 2021, Jazzie Co. agreed to sell the assets of its Mister Division to Shawna Inc. for $80…

A: Particulars Amount in Millions a) Pre-tax loss from discontinued operations (10) b) Loss…

Q: Book Value Cash and Receivables P30,000 Inventory Plant Assets (net) Current Liabilities Market…

A: In preparation of consolidated financial statements, parents corporations eliminate/discard the…

Q: On March 1, 2020, Dorsey Corporation purchased Johnson Company. The book and fair value of Johnson's…

A:

Q: Allerton Company acquires all of Deluxe Company’s assets and liabilities for cash on January 1,…

A: SOLUTION-   FORMULA- GOODWILL = FAIR VALUE OF CONSIDERATION TRANSFERRED - FAIR VALUE OF NET…

Q: On October 1, 2017, the Puppy Eyes Company acquired the net assets of The Cat Love Company when the…

A: It is pertinent to note that while determining goodwill or gain on purchase price on the date of…

Q: On January 2, 2019, U Co. purchased 75% of the outstanding shares of N Co. resulting to a goodwill…

A:

Q: On March 31, 2020, United Corporation acquired for $750,000 cash all the outstanding common stock of…

A: The United Corporation paid $750,000 as purchase consideration and acquired the net assets of the…

Q: he year 2010, U and N reported net income of P350,000 and P200,000 each respectiv

A: The explanation, data interpretation, and workings In the context of the given question, we are…

Q: Adams, Inc., acquires Clay Corporation on January 1, 2020, in exchange for $713,300 cash.…

A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: luded merchandise purchased from N Company amounting to P39,000 which was sold to them by

A: Equity shareholder's net income is the net income of the parent adjusted for the intercompany…

Q: On May 28, 2018, Pesky Corporation acquired all of the outstanding common stock of Harman, Inc.…

A: Goodwill: Goodwill is an intangible asset. It is defined as the excess of cost of an acquired…

Q: On August 27, 2015, Celgene Corporation acquired all of the outstanding stock of Receptos, Inc., in…

A: Acquisition method comes into play when company acquires the other company and the acquirer company…

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.