Business
Business, 23.07.2019 06:20, chimbali9736

On january 1, 20x9, pallet company acquires 80 percent ownership in slat corporation for $200,000. the fair value of the noncontrolling interest at that time is determined to be $50,000. slat reports net assets with a book value of $250,000 and fair value of $250,000. pallet company reports net assets with a book value of $600,000 and a fair value of $650,000 at that time, excluding its investment in slat. what will be the amount of consolidated net assets that would be reported immediately after the combination?

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Business, 25.06.2019 05:00, kingaman
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Business, 18.07.2019 01:40, 6011028
On january 1, 20x8, potter corporation acquired 90 percent of shoemaker company's voting stock, at underlying book value. the fair value of the noncontrolling interest was equal to 10 percent of the book value of shoemaker at that date. potter uses the fully adjusted equity method in accounting for its ownership of shoemaker. on december 31, 20x9, the trial balances of the two companies are as follows:
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Business, 16.10.2019 02:00, kalawson2019
Purchase corporation purchased 60 percent of steal company ownership on january 1, 20x7, for $280,500. steal reported the following net income and dividend payments: year net income dividends paid 20x7 $ 53,000 $ 33,000 20x8 63,000 43,000 20x9 38,000 18,000 on january 1, 20x7, steal had $253,000 of $8 par value common stock outstanding and retained earnings of $153,000, and the fair value of the noncontrolling interest was $187,000. steal held land with a book value of $31,500 and a market value of $39,000 and equipment with a book value of $320,000 and a market value of $360,000 at the date of combination. the remainder of the differential at acquisition was attributable to an increase in the value of patents, which had a remaining useful life of 10 years. all depreciable assets held by steal at the date of acquisition had a remaining economic life of eight years.required: a. compute the increase in the fair value of patents held by steal.b. prepare the consolidation entries needed at january 1, 20x7, to prepare a consolidated balance sheet.c. compute the balance reported by purchase as its investment in steal at december 31, 20x8.d. prepare the journal entries recorded by purchase with regard to its investment in steal during 20x9.e. prepare the consolidation entries needed at december 31, 20x9, to prepare a three-part consolidation worksheet.
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Business, 16.10.2019 02:30, Kling1982
On january 1, 20x1, picture company acquired 70 percent ownership of seven corporation at underlying book value. the fair value of the noncontrolling interest at the date of acquisition was equal to 30 percent of the book value of seven corporation. on april 25, 20x1, seven purchased inventory from picture for $45,000. seven sold the entire inventory to an unaffiliated company for $58,000 on october 12, 20x1. picture had produced the inventory sold to seven for $38,000. the companies had no other transactions during 20x1. based on the information given above, what amount of sales will be reported in the 20x1 consolidated income statement?
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