On January 1, 2010 Hand acquires 100% of Finger in a statutory merger. At acquisition date the following were the book values and fair values of fixed assets of these two companies:                   Book Value.          Fair Value Hand          900,000                800,000 Finger         200,000                300,000  a.  What is consolidated fixed assets under the acquisition method b. What is consolidated fixed assets under the purchase method c.What is consolidated fixed assets under the pooling of interests method

Q: If PROMDI Co., a new company would acquire the net assets of CARDO Co and SYANO Co. PROMDI Co will…

A: PROMDI CO. acquired the net assets of CARDO CO and SYANO CO PROMDI CO issues  CARDO CO = 30000…

Q: overvalued Building. As a consideration, OPQ Co. issued its own shares of stock with a market value…

A: Business combination: When a company takes a business of another company, such taking over is known…

Q: When Jolt Co. acquired 75% of the common stock of Yelts Corp., Yelts owned land with a book value of…

A: The consolidated balance sheet is a financial statement that indicates the overall position of…

Q: RR Records Inc. acquired all of DD Studios’ voting shares on January 1, 20x1, for P280,000. RR’s…

A: All assets, liabilities, equity, income, expenses, and cash flows of the parent business and its…

Q: Alfonso Inc. acquired 100 percent of the voting shares of BelAire Company on January 1, 2020. In…

A: Goodwill = consideration  paid - fair value of net assets

Q: Francisco Inc. acquired 100 percent of the voting shares of Beltran Company on January 1, 2017. In…

A:

Q: As a result of the merger, what is the goodwill? * The following are the condensed balance sheet of…

A: Particulars   To GM To SR Total Cash paid P 185,000 P 72,000 P 257,000 Add: Market value of…

Q: Protrade Corporation acquired 70 percent of the outstanding voting stock of Seacraft Company on…

A: Consolidated financial statements is prepared when the company acquires 50% or more the voting…

Q: If PROMDI Co., a new company would acquire the net assets of CARDO Co and SYANO Co. PROMDI Co will…

A: Goodwill is an intangible asset that is related to the takeover of one company by another. In fact,…

Q: On 01 January 2013, Gordon Plc acquired 75% of Brown Ltd for $300,000 when Brown`s share capital and…

A: The subsidiary is fully consolidated but associates are only shown to the extent of the investments…

Q: On January 1, 2021, Casey Corporation exchanged $3,218,000 cash for 100 percent of the outstanding…

A: In Simple words, a consolidated balance sheet is a collection of financial information from all of a…

Q: Protrade Corporation acquired 80 percent of the outstanding voting stock of Seacraft Company on…

A: Under consolidation, the balance of parent and subsidiary company are combined and any intra entity…

Q: Alfonso Inc. acquired 100 percent of the voting shares of BelAire Company on January 1, 2020. In…

A: Solution:- 1)Preparation of journal entry to record the assets acquired and the liabilities assumed…

Q: On January 1, 20X1, Par Inc acquires 85.77% of Sub Corp for $211,625 in cash. Immediately before the…

A: 1. Fair value method 2. net assets method

Q: Allison Corporation acquired all of the outstanding voting stock of Mathias, Inc., on January 1,…

A: The question is based on the concept of Financial Accounting.

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: House Corporation has been operating profitably since its creation in 1960. At the beginning of…

A: This problem requires knowledge of a father-son-grandson business combination.   All relevant data…

Q: Boulder, Inc., obtained 90 percent of Rock Corporation on January 1, 2016. Annual amortization of…

A: Requirement a:

Q: If PROMDI Co., a new company would acquire the net assets of CARDO Co and SYANO Co. PROMDI Co will…

A: PROMDI CO. acquired net assets of CARDO CO. and SYANO CO. Purchase consideration of CARDO CO. =…

Q: ABC Corporation acquired 80 percent of XYZ Corporation on August 1 for P500,000. On that date, XYZ…

A: Identifiable net asset and share of NCI:     Amount (P) Cash            60,000   Inventory…

Q: Alfonso Inc. acquired 100 percent of the voting shares of BelAire Company on January 1, 2020. In…

A: Goodwill is the amount of consideration paid over and above the acquisition cost of the business.…

Q: ABC Corporation acquired 70 percent of XYZ Corporation on August 1 for P420,000. On that date, XYZ…

A: Amount (P) Fair value of Plant            700,000 Book value of plant          (620,000)…

Q: Puncho Company is acquiring the net assets of Semos Company in exchange for common stock valued at…

A:

Q: Protrade Corporation acquired 80 percent of the outstanding voting stock of Seacraft Company on…

A: The financial statements of a group of entities that are presented as if they were a single economic…

Q: On January 1, 2018, Morey, Inc., exchanged $167,900 for 25 percent of Amsterdam Corporation. Morey…

A: As posted multiple sub parts we are answering only first three sub parts kindly repost the…

Q: Protrade Corporation acquired 80 percent of the outstanding voting stock of Seacraft Company on…

A: COGS stands for Cost of Goods Sold which are located in Trading A/c.In simple words it is the price…

Q: P Company purchased 80% of the outstanding common stock of S Company on January 2, 2011, for…

A: Consolidation is the process combining the parent’s financial statements with their subsidiary.

Q: interest was valued at $44,000. In each acquisition, the subsidiary's excess acquisition-date fair…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

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 January 1, 2021, Casey Corporation exchanged $3,210,000 cash for 100 percent of the outstanding…

A: Answer and calculations are given below

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: Boulder, Inc., obtained 90 percent of Rock Corporation on January 1, 2016. Annual amortization of…

A:

Q: Assume that Company A acquires 70 per cent of Company B for a cash price of $14 million when the…

A: Company A acquired 70% of Company B Cash price paid = $14 million The share capital of Company B= $8…

Q: ABC Company acquires 80% of DEF's outstanding stock on January 1, 2021 by paying P300,000 cash and…

A: Consolidated assets include the total assets which shows the aggregate of Acquirer’s asset and fair…

Q: Alfonso Inc. acquired 100 percent of the voting shares of BelAire Company on January 1, 2020. In…

A: 1. Date Account Titles and Explanation Debit Credit 1 Jan Cash 92,000     Receivables 208,250…

Q: Alfonso Inc. acquired 100 percent of the voting shares of BelAire Company on January 1, 2020. In…

A: The process of recording business transactions in the books of accounts for the first time is…

Q: Jasper Company acquired 80% of Fey Company at the beginning of the current year. Jasper paid…

A:

Q: P Company purchases 80% of the outstanding shares of S Company for P9,000,000. The carrying value of…

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: arent Company purchases 80% of the outstanding shares of Subsidiary Company for P9,000,000. The…

A: Step 1 Excess of purchase consideration paid over the fair value of the net assets , is denotes to…

Q: Alfonso Inc. acquired 100 percent of the voting shares of BelAire Company on January 1, 2020. In…

A: Goodwill impairment loss=Carrying value of goodwill-Impaired fair value of goodwill

Q: If PROMDI Co., a new company would acquire the net assets of CARDO Co and SYANO Co. PROMDI Co will…

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

Q: Compute the balance of Buildings and Equipment, net to be reported in the consolidated balance sheet…

A: While preparing consolidated balance sheet, all the assets and liabilities of both companies would…

Q: Compute the balance of Inventory to be reported in the consolidated balance sheet immediately after…

A: RR Records Inc. acquired all of DD Studios’ voting shares on January 1, 20x1 thus RR Records Inc. is…

Q: House Corporation has been operating profitably since its creation in 1960. At the beginning of…

A: Solution: This problem requires knowledge of a father-son-grandson business combination.All relevant…

Q: ABC Corporation acquired 70 percent of XYZ Corporation on August 1 for P420,000. On that date, XYZ…

A: Purchase acquisition accounting is a method that is used for recording the purchase of a company on…

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.