Prepare Allerton’s entry to record its acquisition of Deluxe in its accounting records assuming the following cash exchange amounts: $132,000 and $86,000. (I

Q: On May 28, 2021, Pesky Corporation acquired all of the outstanding common stock of Harman, Inc., for…

A: Solution:- 1)Determination of the amount of goodwill that resulted from the Harman acquisition as…

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

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A: Following is the consolidated net income

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A:

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A: For calculating good will, fair value of asset should be used. Book value of asset should be…

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

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: Watkins, Inc. acquires all of the outstanding stock of Glen Corporation on January 1, 2020. At that…

A: Subsidiary's building in consolidation: The subsidiary's building in consolidation on December 31,…

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A: Goodwill refers to the amount that is paid by the acquirer company in excess of assets' fair value.…

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A: Goodwill =  Purchase Consideration + Fair Value of Non Controlling Interest - Fair Value of Net…

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

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…

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

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: P Company acquired the net assets of S Company of fair value of $2,700,000 on January 1, 2011,…

A: Acquisition is an act of buying/purchasing/acquiring something. Here in the question, Acquisition of…

Q: Use the following to answer questions 8 through 10: On May 1, 2021, Jazzie Co. agreed to sell the…

A: SOLUTION-   WORKING NOTE- GAIN ON ASSET  SALE =  ($80 MILLION - $ 48 MILLION)…

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A: An intangible asset seems to be one that does not have a physical form. Intangible assets include…

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A: Book value                                     690,000 Excess of fair over book value.  435,000…

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

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A: What is meant by acquisition? When one company purchases other company's shares and assets in order…

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…

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A: Given, Purchase consideration of £800,000 Assets fair value is £800,000 Liabilities amounts to…

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A: Answer: Part 1: Part 2: The fair value of the Reporting unit = 720,000. Carrying amount of Borlow =…

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A: Here all outstanding shares were acquired by Watkins Inc On acquisition the assets and liabilities…

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A:

Q: On January 1, 2018, Panorama Company acquired 80% of Scann Corporation for $6,400,000.At the time of…

A: 1.Investment in S at December 31,2018 = $6,400,000 * 80% + $300,000 * 80% = $5,120,000 + $240,000 =…

Q: 1) Calculate Investment in Scann shown on Panorama's ledger at December 31, 2018 and 2019. 2)…

A:

Q: On January 1, 2018, Panorama Company acquired 80% of Scann Corporation for $6,400,000.At the time of…

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

Q: On January 2, 2019, Peace Co. acquired 80% of the outstanding common stock of Shade Co. for…

A: Working note: Computation of additional depreciation or savings in depreciation:

Q: On January 2, 2019, Peace Co. acquired 80% of the outstanding common stock of Shade Co. for…

A: A consolidated financial statement is the part of the financial statement where the accounts of the…

Q: On January 1, 2021 Parent Corp. acquires 80% of Sub Inc. for $1,712,000 in cash consideration.  The…

A: The question is based on the concept of Consolidated Financial statements

Q: On January 1, 2019, S acquires 70% of S for $490,000 cash.  The remaining 30% of S’s shares…

A: Solution- S no Particulars amount  DR amount  Cr A common stock (…

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: Born Corporation agrees to acquire the net assets ofWren Corporation on January 1, 2015.Wren has the…

A: 1. Journal entry when the Purchase Price is $540,000:

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A: It is the excess of purchase price of a business over the fair market value of the business's assets…

Q: Mighty Company purchased a 60 percent interest in Lowly Company on January 1, 2017, for $558,900 in…

A: Consolidation: It is the process of combining financial items like assets and liabilities of more…

Q: How much is the consolidated profit?

A: The question is related to Consolidated Financial Statement. The parent company (Harry co.) has…

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

A: 1. Fair value of net assets = Current assets + Building + Land + Trademark - Liabilities = $60,000 +…

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

A: Assets are the tangible or intangible items owned by the firm or individual. It is calculated by…

Q: On January 1, 2021, Casey Corporation exchanged $3,300,000 cash for 100 percent of the outstanding…

A: A financial statement that displays the financial standing of a parent firm and its subsidiary…

Q: NCI in the consolidated FS for the year 2019.

A: We have to calculate NCI on acquisition date & for that we have to add NCI share in the net…