ADVANCED FINANCIAL ACCOUNTING IA
12th Edition
ISBN: 9781260545081
Author: Christensen
Publisher: MCG
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Chapter 3, Problem 3.5E
On January 1, 20X3, Parade Corporation reported total assets of $470,000, liabilities of $270,000,and
Required
Immediately alter Parade purchased the Summer shares,
a. What amount of total assets did Parade report in its individual balance sheet?
b. What amount of total assets was reported in the consolidated balance sheet?
C. What amount of total liabilities was reported in the consolidated balance sheet?
d. What amount of stockholders’ equity was reported in the consolidated balance sheet?
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On January 1, 20X3, Parent Corporation reported total assets of $470,000, liabilities
$270,000, and stockholder's equity of $200,000. At that date, Sub. Corporation reported
total assets of $190,000, liabilities of $135,000, and stockholder's equity of $55,000.
Following lengthy negotiations, Parent paid Sub's existing shareholders $44,000 in cash for
80 percent of the voting common shares of Sub and acquired control.
> What amount of stockholder's equity was reported in the consolidated balance sheet?
On January 1, 20X3, Parade Corporation reported total assets of $470,000, liabilities of $260,000, and stockholders' equity of
$210,000. At that date, Summer Corporation reported total assets of $185,000, llabilities of $131,000, and stockholders' equity of
$54,000. Following lengthy negotiations, Parade paid Summer's existing shareholders $43,200 in cash for 80 percent of the voting
common shares of Summer,
Required:
Immediately after Parade purchased the Summer shares,
a. What amount of total assets did Parade report in its individual balance sheet?
b. What amount of total assets was reported in the consolidated balance sheet?
c. What amount of total liabilities was reported in the consolidated balance sheet?
d. What amount of stockholders' equity was reported in the consolidated balance sheet?
a. Amount of total assets
b. Amount of total assets
c. Amount of total liabilities
d. Amount of stockholders' equity
On January 1, 20X3, Parent Corporation reported total assets of $470,000, liabilities
$270,000, and stockholder's equity of $200,000. At that date, Sub. Corporation reported
total assets of $190,000, liabilities of $135,000, and stockholder's equity of $55,000.
Following lengthy negotiations, Parent paid Sub's existing shareholders $44,000 in cash for
80 percent of the voting common shares of Sub and acquired control.
What amount of total assets did Parent report in its individual balance sheet?
> What amount of total assets was reported in the consolidated balance sheet?
What amount of total liabilities was reported in the consolidated balance sheet?
What amount of stockholder's equity was reported in the consolidated balance sheet?
Chapter 3 Solutions
ADVANCED FINANCIAL ACCOUNTING IA
Ch. 3 - What is the basic idea underlying the preparation...Ch. 3 - How might consolidated statements help an investor...Ch. 3 - Prob. 3.3QCh. 3 - Prob. 3.4QCh. 3 - Prob. 3.5QCh. 3 - Prob. 3.6QCh. 3 - Prob. 3.7QCh. 3 - Prob. 3.8QCh. 3 - Prob. 3.9QCh. 3 - Prob. 3.10Q
Ch. 3 - Prob. 3.11QCh. 3 - Prob. 3.12QCh. 3 - What is meant by indirect control? Give an...Ch. 3 - Prob. 3.14QCh. 3 - Prob. 3.15QCh. 3 - Prob. 3.16QCh. 3 - Prob. 3.17QCh. 3 - Prob. 3.18QCh. 3 - Prob. 3.1CCh. 3 - Prob. 3.2CCh. 3 - Prob. 3.1.1ECh. 3 - Prob. 3.1.2ECh. 3 - Prob. 3.1.3ECh. 3 - Prob. 3.1.4ECh. 3 - Multiple-Choice Question on Variable Interest...Ch. 3 - Multiple-Choice Question on Variable Interest...Ch. 3 - Prob. 3.2.3ECh. 3 - Prob. 3.2.4ECh. 3 - Prob. 3.3.1ECh. 3 - Prob. 3.3.2ECh. 3 - Prob. 3.3.3ECh. 3 - Prob. 3.4.1ECh. 3 - Prob. 3.4.2ECh. 3 - Prob. 3.4.3ECh. 3 - Prob. 3.4.4ECh. 3 - Balance Sheet Consolidation On January 1, 20X3,...Ch. 3 - Prob. 3.6ECh. 3 - Prob. 3.7ECh. 3 - Prob. 3.8ECh. 3 - Prob. 3.9ECh. 3 - Reporting for a Variable Interest Entity Gamble...Ch. 3 - Prob. 3.11ECh. 3 - Prob. 3.12ECh. 3 - Prob. 3.13ECh. 3 - Prob. 3.14ECh. 3 - Prob. 3.15ECh. 3 - Prob. 3.16ECh. 3 - Prob. 3.17ECh. 3 - Prob. 3.18ECh. 3 - Prob. 3.19.1PCh. 3 - Prob. 3.19.2PCh. 3 - Prob. 3.20PCh. 3 - Prob. 3.21PCh. 3 - Prob. 3.22PCh. 3 - Prob. 3.23PCh. 3 - Prob. 3.24PCh. 3 - Prob. 3.25PCh. 3 - Prob. 3.26PCh. 3 - Prob. 3.27PCh. 3 - Prob. 3.28PCh. 3 - Prob. 3.29PCh. 3 - Consolidated Worksheet at End of the First Year of...Ch. 3 - Prob. 3.31P
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Stockholders Equity: How to Calculate?; Author: Accounting University;https://www.youtube.com/watch?v=2jZk1T5GIlw;License: Standard Youtube License