Book Value P60,000 Market Value P60,000 Cash 130,000 580,000 200,000 40,000 (250,000) (10,000) (450,000) (300,000) What is the amount of non-controlling interest on the acquisition date Inventory Plant Assets (net) Cost of Goods Sold 210,000 630,000 Depreciation Expense Liabilities (250,000) Common Stock Retained Earnings Sales consolidated balance sheet?

Book Value P60,000 Market Value P60,000 Cash 130,000 580,000 200,000 40,000 (250,000) (10,000) (450,000) (300,000) What is the amount of non-controlling interest on the acquisition date Inventory Plant Assets (net) Cost of Goods Sold 210,000 630,000 Depreciation Expense Liabilities (250,000) Common Stock Retained Earnings Sales consolidated balance sheet?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

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 non-controlling interest on the acquisition date consolidated balance sheet? In good accounting form, please. Thank you! <33
On Jan 1, 20X1, Ouyang Inc paid $1,000,000 to acquire 70% of Huang Inc when Huang's BV was $500,000. And the 30% of non-controlling interest(NCI)'s fair value was $300,000. At the acquisition date, Huang's equipment was understated by $50,000 with a 5 vear remaining life; Patents was underreported by 60,000 with a 6 year remaining life; trademarks was overvalued by $10,000 with a remaining life of 5 years. Three years later, Huang Inc reports the following information. Ouyang Inc Huang Inc Current assets Equipment Trademarks $300,000 $320,000 250,000 150,000 210,000 140,000 200,000 280,000 100,000 320,000 Patents 150,000 Liabilities Revenues Expenses 340,000 450,000 180,000 What is the consolidated balance of trademarks today?
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 non-controlling interest on the acquisition date consolidated balance sheet? * Book Value P40,000 170,000 Market Value P40,000 230,000 700,000 Cash Inventory Plant Assets (net) Cost of Goods Sold 620,000 220,000| 60,000 Depreciation Expense Liabilities (300,000) (10,000) (450,000) (350,000) (300,000) Common Stock Retained Earnings Sales Your answer
Phone Corporation acquired 70 percent of Smart Corporation’s common stock on December 31, 20X4, for $98,000. At that date, the fair value of the noncontrolling interest was $42,000. Data from the balance sheets of the two companies included the following amounts as of the date of acquisition: Item Phone Corporation Smart Corporation Cash $ 52,300 $ 39,000 Accounts Receivable 99,000 59,000 Inventory 136,000 92,000 Land 66,000 49,000 Buildings & Equipment 417,000 268,000 Less: Accumulated Depreciation (151,000) (73,000) Investment in Smart Corporation 98,000 Total Assets $ 717,300 $ 434,000 Accounts Payable $ 141,500 $ 27,000 Mortgage Payable 300,800 288,000 Common Stock 72,000 40,000 Retained Earnings 203,000 79,000 Total Liabilities & Stockholders’ Equity $ 717,300 $ 434,000 At the date of the business combination, the book values of Smart’s assets and liabilities approximated fair value except for inventory, which had a fair value of…
Palm Corporation and Staple Company have announced terms of an exchange agreement under which Palm will issue 8,500 shares of its $15 par value common stock to acquire all of Staple Company’s assets. Palm shares currently are trading at $59, and Staple $10 par value shares are trading at $23 each. Historical cost and fair value balance sheet data on January 1, 20X2, are as follows: Palm Corporation Staple Company Balance Sheet Item Book Value Fair Value Book Value Fair Value Assets Cash & Receivables $ 151,000 $ 151,000 $ 46,000 $ 46,000 Land 110,000 190,000 57,000 83,000 Buildings & Equipment (net) 313,000 411,000 176,000 230,000 Total Assets $ 574,000 $ 752,000 $ 279,000 $ 359,000 Equities Common Stock $ 200,000 $ 81,000 Additional Paid-In Capital 18,000 9,900 Retained Earnings…
8.On August 20X1, ABC Company bought 10,000 shares of Z Corp at P120,000. Commission and taxes related to the acquisition were P5,000. On Dec 31, 20X1 Z Corp's share had a fair value of P14 per share. Half of the shares were sold at P15 per share. Transaction costs related to the sale were P3,500. ABC Company's investment model is to hold collect and sell.How much is the unrealized gain (loss) at FV change on Dec 31, 20X1? 20,000 15,000 10,000 0
7. 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 non-controlling interest on the acquisition date consolidated balance sheet?
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 non-controlling interest on the acquisition date consolidated balance sheet?
Calendar Company purchases 80 percent of Daily Planner. At the date of acquisition, Daily Planner has revenue of P250,000 and expenses of P170,000. What amount of pre-acquisition earnings will be created on the consolidated income statement at the acquisition date?
On December 31, 20X1, Par Inc reported total assets of $860,203, while Sub Corp reported total assets of $171,991. The fair values of Sub's assets and liabilities on the same date were $214421 and $49,313 respectively. On the morning of January 1, 20x2, Par agreed to acquire 100% of Sub for a total value of 86.25% of Sub for a total value of $286,678 by paying cash. On the consolidated balance sheet immediately after the acquisition, what should be the total assets reported by the combined entity under the fair-value-enterprise (FVE) method? a. $955,218 b. $979,099 Oc. $1,002,979 Od. $1,026.860 O e. $931,338 On January 1, 20X1, Par inc acquires 79.05% of Sub Corp for $153,469 in cash. Immediately before the acquisition, the book value of Sub's identifiable net assets was $104,016 with a fair value of $116,806, while the book value of Par's net assets was $204.623. What will be the amount of total shareholders' equity on the consolidated balance sheet immediately after the acquisition…