pany acquires T00j0 othe stockof 30lar Cor on on jan 2019.1or 0000cash. As of that date Soiar had the folowing account batances Book Value Edir value Cash $630.000 $630,000 Accounts receivable 775.000 775,000 Inventory 350.000 400,000 Building-net (10 year life) Equipment-net (5 year life) 1,000.000 900,000 300,000 400.000 Land 600.000 900,000 Accounts Payable 125.000 125,000 Bonds Payable (Face amount $1,000,000. due 12/31/2023) Common stock Additional paid-in capital Retained earnings 2.000.000 2,050,000 500,000 250.000 780.000 in 2019 and 2020, Solar had net income of $250,000 and $240,000, respectively. In addition, Solar paid dividends of $16,000 in both years, Inventory is assumed to be sold in 2019. Assume straight line amortization/ depreciation for assets and bonds payable. What amount of Solars single legal entity stockholders' equity will be included in the consolidated balance sheet at date of acquisition? Select one A $2.064.000 B. $3.350,000 O C S1,530,000 D.S0

A-5

Orange LTD has the following investments at December 31, 2020; Fair value Historical cost Sept 30, 2019 $15,000 Fair value Sept 30, 2020 $25,000 Fair value Dec 31, 2020 $30,000 Shares of DEF Bonds of Brooke purchased at par value) Shares of CooksTown Shares of Tulip $25,000 10,000 12,000 18,000 12,000 18,000 16,500 11,000 16,000 19,500 12,500 16,000 20,500 Orange, whose year-end is Sept. 30, purchased the share of Tulip on January 1, 2019, If Orange irrevocably elected to classify its investment in Tulip at fair value through OCL what amount will be reported in other comprehensive income at September 30, 2020? $1,500 gain O $2,500 gain. et O $19,500 O $3,000 gain.

Req A, Req B to D, Req E & F, Req G

Financial information at 30 June 2020 of Great Ltd and its subsidiary company, Wall Ltd, is shown below. At 1 July 2017, the date Great Ltd acquired its 80% shareholding in Wall Ltd, all the identifiable assets and liabilities of Wall Ltd were at fair value except for the following assets:     Carrying amount   Fair value Plant (cost $75,000)   $49,000   $55,000 Land   29,000   37,000 The plant has an expected life of 10 years, with benefits being received evenly over that period. Differences between carrying amounts and fair values are adjusted on consolidation. The land on hand at 1 July 2017 was sold on 1 February 2018 for $40,000. Any valuation reserve in relation to the land is transferred on consolidation to retained earnings. Great Ltd uses the full goodwill method. The fair value of the non-controlling interest at 1 July 2017 was $31,500.     Great Ltd   Wall Ltd Sales revenue   $ 316,000     $ 220,000…

The following is an extract from the trial balance of Tempo Ltd on 30 June 2022:£Land and buildings 114 000Equipment 210 000Investment (80 000 shares of £1 each in Rhythm Ltd at cost price) 650 000Inventory (30/6/2008 - £382 000) 418 000Trade receivables (30/6/2021 – £180 000) 206 000Cash and cash equivalents 92 000Share capital:Ordinary share capital including premium 450 000Preference share capital 200 000Retained earnings:Balance – beginning of year 160 000Retained profit for the year 40 00012% Long term loan 420 000Trade payables (30/6/2021 – £190 000) 210 000Tax payable 110 000Dividends payable 100 000Additional information:1. Issued share capital:- 400 000 ordinary shares of £1 each- 40 000 10% preference shares of £5 each.2. Gross profit for the year amounted to £1 344 000 and represents 40% of turnover for the year.3. All sales and all purchases are on credit.4. Income from investment for the year amounted to £24 000.5. The dividends payable represents the total amount of…

e of cents Price Company purchased 90% of the outstanding common stock of Score Company on January 1, 2016, for $450,000. At that time, Score Company had stockholders' equity consisting of common stock, $200,000; other com $160,000; and retained earnings, $90,000. On December 31, 2020, trial balances for Price Company and Score Company were as follows: Price $ 109,000 $ Cash Accounts Receivable Note Receivable Inventory Investment in Score Company Plant and Equipment Land Score 78,000 94,000 -0- 166,000 75,000 309,000 158,000 450,000 -0- 940,000 420,000 160,000 70,000 70,000 50,000 822,000 242,000 250,500 124,000 Dividends Declared Cost of Goods Sold Operating Expenses Total Debits Accounts Payable Notes Payable Common Stock $3,351,500 $1,236,000 $ 132,000 $ 46,000 300,000 120,000 500,000 200,000 260,000 160,000 Other Contributed Capital Retained Earnings, 1/1 Sales Dividend and Interest Income Total Credits 687,000 1,420,000 52,500 $3.351,500 $1,236,000 210,000 500,000 -0- Price…

Huey Company acquires 100% of the stock of Solar Corporation on January 1, 2019, for $2,400,000 cash. As of that date Solar had the following account balances: Book Value Fair value Cash $630,000 $630,000 Accounts receivable 775,000 775,000 Inventory 350,000 400,000 Building-net (10 year life) 1,000,000 900,000 Equipment-net (5 year life) 300,000 400,000 Land 600,000 900,000 Accounts Payable 125,000 125,000 Bonds Payable (Face amount $1,000,000, due 12/31/2023) 2,000,000 2,050,000 Common stock 500,000 Additional paid-in capital 250,000 Retained earnings 780,000 In 2019 and 2020, Solar had net income of $250,000 and $240,000, respectively. In addition, Solar paid dividends of $16,000 in both years. Inventory is assumed to be sold in 2019. Assume straight line amortization/ depreciation for assets and bonds payable. What amount of Solar's Bonds Payable would appear on the consolidated balance sheet at December 31, 2019? Select one: A. $2,050,000 B.$2,040,000 C. $2,000,000 D. $2,010,000

3.  A company had 20,000 shares outstanding on January 1. They issued 6,940 shares on May 31. And on August 31, 3,383 shares were purchased as treasury stock. Calculate the weighted average number of shares outstanding for the year to the nearest whole number.