ADVANCED FINANCIAL ACCOUNTING IA
12th Edition
ISBN: 9781260545081
Author: Christensen
Publisher: MCG
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Chapter 5, Problem 5.4E
a.
To determine
Introduction: Consolidate
The amount of inventory to be mentioned in the consolidated balance sheet.
b.
To determine
Introduction: Consolidate balance sheet reflects the financial position of the parent and its subsidiary company on a particular date. Usually, businesses that operate as a group prepare a consolidated balance sheet to show the combined results of the group
The amount of land to be mentioned in the consolidated balance sheet.
c.
To determine
Introduction: Consolidate balance sheet reflects the financial position of the parent and its subsidiary company on a particular date. Usually, businesses that operate as a group prepare a consolidated balance sheet to show the combined results of the group
The amount of building and equipment (net) to be mentioned in the consolidated balance sheet.
d.
To determine
Introduction: Consolidate balance sheet reflects the financial position of the parent and its subsidiary company on a particular date. Usually, businesses that operate as a group prepare a consolidated balance sheet to show the combined results of the group
The amount of
e.
To determine
Introduction: Consolidate balance sheet reflects the financial position of the parent and its subsidiary company on a particular date. Usually, businesses that operate as a group prepare a consolidated balance sheet to show the combined results of the group
The amount of investment to be mentioned in the consolidated balance sheet.
f.
To determine
Introduction: Consolidate balance sheet reflects the financial position of the parent and its subsidiary company on a particular date. Usually, businesses that operate as a group prepare consolidated balance sheet to show the combined results of the group
The amount of non-controlling interest to be mentioned in the consolidated balance sheet.
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Professor Corporation acquired 70 percent of Scholar Corporation's common stock on December 31, 20X4, for $102,200. The fair
value of the noncontrolling interest at that date was determined to be $43,800. Data from the balance sheets of the two companies
included the following amounts as of the date of acquisition:
Item
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Accounts Receivable
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Land
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Less: Accumulated Depreciation
Investment in Scholar Corporation
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Professor Scholar
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$50,300
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Land
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Less: Accumulated depreciation
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Total Assets
Liabilities & Equity
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ABC Corporation acquired 70 percent of XYZ Corporation on August 1 for P420,000. On that date, XYZ Corporation had the following book values and market values. What is the amount of purchase differential recognized on the acquisition date consolidated balance sheet with respect to plant assets.
*In good accounting form, please. Thank you!
Professor Corporation acquired 70 percent of Scholar Corporation's common stock on December 31, 20X4, fr $102,200. The fair
value of the noncontrolling interest at that date was determined to be $43,800. Data from the balance sheets of the two companies
Included the following amounts as of the date of acquisition:
Item
Cash
Accounts Receivable
Inventory
Land
Buildings & Equipment
Less: Accumulated Depreciation.
Investment in Scholar Corporation
Total Assets
Accounts Payable
Mortgage Payable
Common Stock
Retained Earnings
Total Liabilities & Stockholders' Equity
Professor
Corporation
$
50,300
90,000
Scholar
Corporation
$21,000
44,000
130,000
75,000
60,000
30,000
410,000
250,000
(150,000)
(80,000)
102,200
$ 692,500
$340,000
$
152,500
$ 35,000
250,000
180,000
80,000
40,000
210,000
85,000
$
692,500
$340,000
At the date of the business combination, the book values of Scholar's assets and liabilities approximated fair value except for
Inventory, which had a fair value of $81,000, and…
Chapter 5 Solutions
ADVANCED FINANCIAL ACCOUNTING IA
Ch. 5 - Where is the balance assigned to the...Ch. 5 - Why must a noncontrolling interest be reported in...Ch. 5 - Prob. 5.3QCh. 5 - Prob. 5.4QCh. 5 - Prob. 5.5QCh. 5 - Prob. 5.6QCh. 5 - Prob. 5.7QCh. 5 - Prob. 5.8QCh. 5 - Prob. 5.9QCh. 5 - Prob. 5.10Q
Ch. 5 - Under what Circumstances would a parent company...Ch. 5 - Prob. 5.12QCh. 5 - Prob. 5.13QCh. 5 - Prob. 5.14AQCh. 5 - Prob. 5.15AQCh. 5 - Consolidation Worksheet Preparation The newest...Ch. 5 - Prob. 5.2CCh. 5 - Prob. 5.3CCh. 5 - Prob. 5.4CCh. 5 - Prob. 5.5CCh. 5 - Prob. 5.1.1ECh. 5 - Prob. 5.1.2ECh. 5 - Prob. 5.1.3ECh. 5 - Prob. 5.1.4ECh. 5 - Prob. 5.2.1ECh. 5 - Prob. 5.2.2ECh. 5 - Prob. 5.2.3ECh. 5 - Prob. 5.2.4ECh. 5 - Prob. 5.2.5ECh. 5 - Prob. 5.3ECh. 5 - Prob. 5.4ECh. 5 - Balance Sheet Worksheet Problem Company owns 90...Ch. 5 - Prob. 5.6ECh. 5 - Prob. 5.7ECh. 5 - Prob. 5.8.1ECh. 5 - Prob. 5.8.2ECh. 5 - Prob. 5.8.3ECh. 5 - Prob. 5.8.4ECh. 5 - Prob. 5.8.5ECh. 5 - Prob. 5.8.6ECh. 5 - Prob. 5.8.7ECh. 5 - Prob. 5.9ECh. 5 - Prob. 5.10ECh. 5 - Prob. 5.11ECh. 5 - Prob. 5.12ECh. 5 - Prob. 5.13ECh. 5 - Prob. 5.14ECh. 5 - Prob. 5.15ECh. 5 - Prob. 5.16ECh. 5 - Prob. 5.17AECh. 5 - Prob. 5.18AECh. 5 - Prob. 5.19PCh. 5 - Prob. 5.20PCh. 5 - Prob. 5.21.1PCh. 5 - Multiple-Choice Questions on Applying the Equity...Ch. 5 - Prob. 5.21.3PCh. 5 - Prob. 5.21.4PCh. 5 - Prob. 5.22PCh. 5 - Computation of Account Balances Pencil Company...Ch. 5 - Prob. 5.24PCh. 5 - Equity Entries with Differential On January 1,...Ch. 5 - Equity Entries with Differential Plug Corporation...Ch. 5 - Prob. 5.27PCh. 5 - Prob. 5.28PCh. 5 - Prob. 5.29P
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