ADVANCED ACCOUNTING
13th Edition
ISBN: 9781264046263
Author: Hoyle
Publisher: MCG
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Textbook Question
Chapter 3, Problem 11P
What is Phoenix’s consolidated
a. $250,000
b. $290,000
c. $330,000
d. $360,000
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Students have asked these similar questions
How much is the total shareholders’ equity at December 31, 2021?
a. ₱ 14,435,500
b. ₱ 14,453,500
c. ₱ 14,500,000
d. ₱ 14,250,000
On January 1, 2019, Pali Company acquired 75% of Silicon Company's voting stock for $44,300 in cash. The noncontrolling interest had an
estimated fair value of $12,700. Silicon's assets and liabilities at the date of acquisition were reported at amounts approximating fair value,
but it had previously unreported indefinite life identifiable intangibles valued at $21,000. Silicon's total shareholders' equity at January 1,
2019 was as follows:
Capital stock
Retained earnings
Accumulated other comprehensive income
Total
It is now December 31, 2020 (two years later). Identifiable intangibles impairment for 2019 was $1,000 and there was no goodwill
impairment. There is no identifiable intangibles impairment for 2020, but goodwill impairment for 2020 is $200. Pali uses the complete
equity method to account for its investment. December 31, 2020 trial balances for Pali and Silicon follow.
Current assets
Property, net
Intangibles
Investment in Silicon
Goodwill
Liabilities
Capital stock
RE,…
indicated by a minus sign. Round the final ansWers to
CONSOLIDATED STATEMENTS OF EARNINGS
For the years ended April 28, 2019, April 29, 2018, and April 30, 2017
(in millions ofU.S. dollars, except per-share amounts)
2019
2018
2017
2019
2018
2017
Revenues
$ 27,310.0
22,798.4
$ 31,000.0 $
30,590.0
Cost of sales
26,232.2
26, 182.0
%
Gross profit
4,767.8
4,408.0
4,511.6
%
Operating, selling, administrative, and general expenses
3,633.2
3,462.8
3,416.5
%
Restructuring costs
15.3
62.9
14.1
%
%
(2.6)
(18.9)
(9.1)
%
%
(Gain) loss on disposal of property and equipment and other assets
Depreciation, amortization, and impairment of property and equipment,
intangible assets and other assets
Total operating expenses
334.8
318.1
281.3
%
3,980.7
3,824.9
3,721.0
%
787.1
583.1
790.6
Operating income
Share of earnings of joint ventures and associated companies accounted
for using the equity method
Net financial expenses
68.2
110.1
13.2
%
101.2
111.2
109.2
%
754.1
582.0
694.6
%
Earnings before income…
Chapter 3 Solutions
ADVANCED ACCOUNTING
Ch. 3 - Prob. 1QCh. 3 - Prob. 2QCh. 3 - Prob. 3QCh. 3 - Prob. 4QCh. 3 - When a parent company applies the initial value...Ch. 3 - Several years ago, Jenkins Company acquired a...Ch. 3 - Benns adopts the equity method for its 100 percent...Ch. 3 - Prob. 8QCh. 3 - Prob. 9QCh. 3 - Prob. 10Q
Ch. 3 - Prob. 1PCh. 3 - Prob. 2PCh. 3 - Prob. 3PCh. 3 - Prob. 4PCh. 3 - Paar Corporation bought 100 percent of Kimmel,...Ch. 3 - Prob. 6PCh. 3 - Prob. 7PCh. 3 - If no legal, regulatory, contractual, competitive,...Ch. 3 - Prob. 9PCh. 3 - Prob. 10PCh. 3 - What is Phoenixs consolidated retained earnings...Ch. 3 - On its December 31, 2018, consolidated balance...Ch. 3 - Prob. 13PCh. 3 - Herbert, Inc., acquired all of Rambis Companys...Ch. 3 - Prob. 15PCh. 3 - Prob. 16PCh. 3 - Prob. 17PCh. 3 - Prob. 18PCh. 3 - Prob. 19PCh. 3 - Prob. 20PCh. 3 - Prob. 21PCh. 3 - Prob. 22PCh. 3 - Following are selected account balances from...Ch. 3 - Prob. 24PCh. 3 - Prob. 25PCh. 3 - Prob. 26PCh. 3 - Prob. 27PCh. 3 - Prob. 28PCh. 3 - Prob. 29PCh. 3 - Prob. 30PCh. 3 - On January 1, 2017, Pinnacle Corporation exchanged...Ch. 3 - Following are selected accounts for Mergaronite...Ch. 3 - Prob. 33PCh. 3 - Prob. 34PCh. 3 - Prob. 35PCh. 3 - Prob. 36PCh. 3 - Prob. 37PCh. 3 - Prob. 38PCh. 3 - Prob. 39APCh. 3 - Prob. 40APCh. 3 - Prob. 1DYSCh. 3 - FASB ASC AND IASB RESEARCH CASE A vice president...Ch. 3 - Prob. 4DYSCh. 3 - Prob. 5DYS
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