What amount should Fisher report as its Investment in Steel on its December 31, 2015, balance sheet? What amount should Fisher report as Equity in Earnings of Steel on its 2015 income statement?

Q: On January 1, 2012, P Corporation purchased 80% of S Company's outstanding stock for P620,000. At…

A: The question is multiple choice question Required  Choose the Correct Option.

Q: During the year 2018 Nestle sold 3,000 shares of LJ, Inc. for P119,700 and 500 shares of Dwarfy…

A: Carrying amount of 3000 shares of LJ Inc = P 180,000 Sale Consideration of 3000 shares of LJ Inc = P…

Q: Pell Company purchased 90% of the stock of Silk Company on January 1, 2007, for $1,860,000, an…

A: Date Particulars Debit Credit 31/12/2011 Investment in Silk Co.  1,860,000            To Cash…

Q: On January 2, 2017, Normal Inc. acquired 15% interest in Laco Co. by paying P1,500,000 for 7,500…

A: Investment Income For Recognize of investment income which has to be the fair value at the end of…

Q: On January 1, 2017, Stream Company acquired 30 percent of the outstanding voting shares of Q-Video,…

A: Given information is: On January 1, 2017, Stream Company acquired 30 percent of the outstanding…

Q: In early December of 2016, Kettle Corp purchased $50,000 of Icalc Company common stock, which…

A: Prepare appropriate entry(s) at December 31, 2016, 2017, and 2018, and for each year indicate how…

Q: On July 1, 2015, Cleopatra Corporation acquired 25% of the shares of Marcus, Inc. for P1,000,000.…

A: The investment in shares gets increased by profits and decreased by dividend received.

Q: On January 1, 2014, Pert Company purchased 85% of the outstanding common stock of Sales Company for…

A: The partial equity method is used by the investing company to account for their investment when…

Q: At the beginning of 2021, Gala company purchased equity securities to held for trading for…

A: It is pertinent to note that equity securities held for trading are measured at fair value through…

Q: On January 1, 2015, FOREVERALONE Corporation reported total assets of P 470,000, liabilities of P…

A: The amount of total assets in FOREVERALONE will remain same @ 470,000. Because the investment in…

Q: On January 1, 2016, Cameron Inc. bought 20% of the outstanding common stock of Lake Construction…

A: 1.Journal entries:

Q: Pitino acquired 90 percent of Brey’s outstanding shares on January 1, 2016, in exchange for $342,000…

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

Q: On September 1, 2015, Parcel Corporation purchased 80% of the outstanding common stock of Sack…

A: Particulars  Amount DR. Amount CR. Cash 170000   Accounts Receivables  133000   Notes…

Q: On July 1, 2015, Cleopatra Corporation acquired 25% of the shares of Marcus, Inc. for P1,000,000.…

A: Amount of profit in 2018 P1,60,000   Share of Profit (P160000 * 25%) P40,000         Account…

Q: On January 1, 2017, Stream Company acquired 30 percent of the outstanding voting shares of Q-Video,…

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

Q: Haynes, Inc., obtained 100 percent of Turner Company’s common stock on January 1, 2017, by issuing…

A: Retained earning is the amount kept by the company for the future growth purpose.

Q: On January 1, 2017, Pruit Company purchased 85% of the outstanding common stock of Salty Company for…

A: Here provide the details of the Acqusition and would come for the elimination entries related to…

Q: On July 1, 2016 TICKLE Company purchased 80% of the outstanding shares of DOODLE Company at a cost…

A: The consolidated net income is calculated below,

Q: On January 1, 2015, P Corporation purchased 80% of S Company’s outstanding shares for ₱620,000. At…

A: Consolidated financial statement:  Consolidated financial statement is the financial statement…

Q: On January 2, 2016, Sanborn Tobacco, Inc., bought 5% of Jackson Industry’s capital stock for $90…

A: 1.investment be classified under trading securities in the sanborn balance sheet.2.

Q: On January 1, 2013, the Sara Company entered into a transaction for acquisition of assets and…

A: SOLUTION-   WORKING NOTE- SARA'S APIC ON ACQUISITION DATE $1080. APIC ADJUSTMENTS RELATED TO ANA…

Q: On January 2, 2016, Well Co. purchased 10% of Rea Inc.’s outstanding common shares for $400,000.…

A: Calculate the net income earned by company W from Company R.

Q: On January 1, 2013, the Sara Company entered into a transaction for acquisition of assets and…

A: An acquisition occurs when one firm buys the majority or all of the stock of another firm in order…

Q: On June 30, 2017, Wisconsin, Inc., issued $300,000 in debt and 15,000 new shares of its $10 par…

A:

Q: On January 4, 2016, Runyan Bakery paid $324 million for 10 million shares of Lavery Labeling Company…

A: 1.Prepare all appropriate journal entries related to the investment during 2016, assuming Runyan…

Q: P Corporation paid $140,000 for a 70% interest in S Inc. on January 1, 2014, when S had Capital…

A: Here, the investment in S ltd is to be given.

Q: At December 31, . Westport Manufacturing Co. owned the following investments in the capi- tal stock…

A: DISCLAIMER  SINCE YOU HAVE POSTED A QUESTION WITH MANY SUB PART . WE WILL SOLVE 3 SUB PART FOR YOU.…

Q: %24 me n January 1, 2021, Fisher Corporation paid $2,877,000 for 35 percent of the outstanding…

A: Req-a   Purchase cost of investment $28,77,000 Add: Equity in Earnings ($808000 * 35%) $2,82,800…

Q: PHN Foods granted 18 million of its no par common shares to executives, subject to forfeiture if…

A: Given the following information: PHN Foods granted 18 million of its no par common shares to…

Q: Gates Corp. has 150,000 shares of common stock outstanding. In 2017, the company reports income from…

A:

Q: Since its incorporation in 2010, Park Inc. has qualifed as a CCPC. During the period since…

A: 1. Sale proceeds from sale of property   $275000 Less : book value on the date of sale…

Q: On January 1, 2013, the Sara Company entered into a transaction for acquisition of assets and…

A:

Q: On January 2, 2016, Miller Properties paid $19 million for 1 million shares of Marlon Company’s 6…

A: 1.The following points need to be considered before deciding to recognize the investments under…

Q: 1 February 2011 PETA acquired 35% of the equity shares of AVO, its only associate, for $20,000,000…

A: Solution. Investment is an asset or item acquired with the goel of generating income or…

Q: Paulee Corporation paid $24,800 for an 80% interest in Sergio Corporation on January 1, 2013, at…

A: Consolidation is a process of acquiring majority of shares (generally more than 50%) of one entity…

Q: BuyCo, Inc. holds 25 percent of the outstanding shares of Marqueen Company and appropriately applies…

A: Investment: It refers to the process of using the currently held excess cash to earn profitable…

Q: Haynes, Inc., obtained 100 percent of Turner Company’s common stock on January 1, 2017, by issuing…

A: a.

Q: On January 1, 2012, P Corporation purchased 80% of S Company's outstanding stock for P620,000. At…

A: The question is multiple choice question  Required  Choose the Correct Option

Q: On January 4, 2018, Watts Co. purchased 40,000 shares (40%) of the common stock of Adams Corp.,…

A: The calculation of investment value per share has been made as follows:

Q: On June 30, 2017, Wisconsin, Inc., issued $300,000 in debt and 15,000 new shares of its $10 par…

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

Q: On July 1, 2014, Issue Company purchased 80% of the outstanding shares of Intrigue Company at a cost…

A: The unrealized gain on upstream and downstream sales should be eliminated to present a correct…

Q: On January 1, 2016, Ronald Company purchased 40% of the outstanding ordinary shares of New Company,…

A: Stake percentage of company R in company N = 40%  Net income reported by N = ₱5,000,000 Dividend…

Q: On January 1, 2013, the Sara Company entered into a transaction for acquisition of assets and…

A: Combined additional paid-in capital = Sara's additional paid-in capital on acquisition date  +…

Q: As part of its executive compensation plan, Vertovec Inc. granted 54,000 of its no par common shares…

A: The basic Earnings per share is computed by dividing the income available to equity stockholders  by…

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.