When valley co acquired 80% of the common stock Coleman Co. Coleman owned land with a book value of 75000 and a fair value of 125000 What amount of excess land allocation attributed to the controlling interest at the acquisition date? 0 12500 40000 50000 60000
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- 1. S acquired 100 percent of F for P275,000. At the date of acquisition, F had the following book and market values: (see image below) What is the amount of the "Investment in F" account on S's financial records at the acquisition date? * Book Value Market Value P30,000 Cash and Receivables P30,000 100,000 210,000 Inventory Plant Assets (net) Current Liabilities 120,000 300,000 (45,000) (115,000) (45,000) (115,000) (10,000) (170,000) Long-term Debf Common Stock Retained Earnings1. S acquired 100 percent of F for P275,000. At the date of acquisition, F had the following book and market values: (see image below) What is the amount of the “Investment in F” account on S’s financial records at the acquisition date?1. S acquired 100 percent of F for P275,000. At the date of acquisition, F had the following book and market values: (see image below) What is the amount of the “Investment in F” account on S’s financial records at the acquisition date? 2. What amount of pre-acquisition earnings is eliminated in the acquisition date worksheet elimination?
- Company X acquired 100% of the voting shares of Company Y for $137,500 on 1/1/2022. The fair value of the net assets of Company Y at the date of acquisition was $150,000. This is an example of a(n): Select one: O O FELIC a. revaluation adjustment b. bargain purchase c. extraordinary loss d. positive differential id1. Malachi Company purchased 80% of the voting ordinary shares of Lamentations Company for P900,000. There are no liabilities recorded in the books of the acquire. Non-controlling interest is measured at proportionate share of Lamentation's identifiable net assets. The following book and fair values are available for Lamentations as of the date of acquisition: Book Value Fair Value Current assets P100,000 P200.000 Land and building 200,000 200.000 Machinery 300.000 600.000 Goodwill 100,000 ? The working paper elimination entries prepared immediately after the combination will include:X co, purchased 100% of Y Common stock at 1/1/2020 for $ 300,000 ,on the same date the y co stock was $ 100,000 and retained earning $120,000 , at acquisition date the net assets of y co. book value was equal to fair value except ( inventory FV more than BV of $26,000) and (land its FV more than BV10,000 ) (Building its FV more than BV by $ 14,000 ) but ( equipment its FV less than B V by $10,000) if Y CO. reported $160,000 net income for 31/12/2020 and paid $ 60,000 dividends. Other information 1- the y inventory completely sold during 2020 2- the building useful life was 7 years , but equipment 5 years 3- there is no impairment for goodwill during 2020 if inventory balance on date of acquisition in parent co 50,000 & in subsidiary co 60,000 what is amount of inventory in consolidated balance sheet in 1/1/2020 Select one: a. 84,000 b. 130,000 C. 110,000 d. 136,000 ere to search 近
- X co, purchased 100% of Y Common stock at 1/1/2020 for $ 300,000 ,on the same date the y co stock was $ 100,000 and retained earning $120,000 , at acquisition date the net assets of y co. book value was equal to fair value except ( inventory FV more than BV of $26,000) and (land its FV more than BV10,000 ) (Building its FV more than BV by $ 14,000 ) but ( equipment its FV less than B V by $10,000) if Y CO. reported $160,000 net income for 31/12/2020 and paid $ 60,000 dividends . Other information 1- the y inventory completely sold during 2020 2- the building useful life was 7 years , but equipment 5 years 3- there is no impairment for goodwill during 2020 if equipment balance in 31/12/2020 in parent co 50,000 & in subsidiary co 60,000 what is amount of equipment in consolidated balance sheet in 31/12/2020 Select one: a. 120,000 b. 100,000 c. 110,000 d. 102,000X co, purchased 100% of Y Common stock at 1/1/2020 for $ 300,000 ,on the same date the y co stock was $ 100,000 and retained earning $120,000 , at acquisition date the net assets of y co. book value was equal to fair value except ( inventory FV more than BV of $26,000) and (land its FV more than BV10,000 ) (Building its FV more than BV by $ 14,000 ) but ( equipment its FV less than B V by $10,000) if Y CO. reported $160,000 net income for 31/12/2020 and paid $ 60,000 dividends . Other information 1- the y inventory completely sold during 2020 2- the building useful life was 7 years , but equipment 5 years 3- there is no impairment for goodwill during 2020 if Building balance in 31/12/2020 in parent co 50,000 & in subsidiary co 60,000 what is amount of Building in consolidated balance sheet in 31/12/2020 Select one: a. 122,000 b. 96,000 c. 110,000 d. 98,000X co, purchased 100% of Y Common stock at 1/1/2020 for $ 300,000 ,on the same date the y co stock was $ 100,000 and retained earning $120,000 , at acquisition date the net assets of y co. book value was equal to fair value except ( inventory FV more than BV of $26,000) and (land its FV more than BV10,000 ) (Building its FV more than BV by $ 14,000 ) but ( equipment its FV less than B V by $10,000) if Y CO. reported $160,000 net income for 31/12/2020 and paid $ 60,000 dividends . Other information 1- the y inventory 50% sold during 2020 2- the building useful life was 7 years , but equipment 5 years 3- there is no impairment for goodwill during 2020 what is amount of investment in consolidated balance sheet on 31/12/2020 Select one: a. 387,000 b. 413,000 c. 300,000 d. 0
- X co, purchased 100% of Y Common stock at 1/1/2020 for $ 300,000 ,on the same date the y co stock was $ 100,000 and retained earning $120,000 , at acquisition date the net assets of y co. book value was equal to fair value except ( inventory FV more than BV of $26,000) and (land its FV more than BV10,000 ) (Building its FV more than BV by $ 14,000 ) but ( equipment its FV less than B V by $10,000) if Y CO. reported $160,000 net income for 31/12/2020 and paid $ 60,000 dividends . Other information 1- the y inventory completely sold during 2020 2- the building useful life was 7 years , but equipment 5 years 3- there is no impairment for goodwill during 2020 what is amount of income from subsidiary reported in parents co income statement on 31/12/2020 Select one: a. 134,000 b. 147,000 c. 186,000 d. 173,000When Jolt Co. acquired 75% of the common stock of Yelts Corp., Yelts owned land with a book value of $70,000 and a fair value of $100,000. What amount should have been reported for the land in a consolidated balance sheet at the acquisition date? A. $ 52,500. B. $ 70,000. C. $ 75,000. D. $ 92,500. E. $100,000.1. Assume the following data apply shortly after Python Co. acquires Snakes Co.: P Co. (000s) 450 S Co. (000s) Assets 200 Liabilities 250 125 CS 75 35 APIC/OCC 75 30 RE 50 10 P asset s have a fair value = 435k; S' identifiable assets have a P acquires 80% of S's outstanding voting S' assets include pre-acquisition fair value = 300k. stock for $160k cash. Goodwill of 20k, and P's assets (and S' liabilities) reflect a Loan P has made to S for 10k. The DOA consolidated Balance Sheet should show (hint:: your B/S should balance: a+b-c=d+e+f+g) : a, identifiable assets b. Goodwill (algebraic) liabilities C. d. Common Stock e. APIC/OCC f. RE g. Noncontrolling interest h. Differential