Accounting problem 3 acquisition entry and consolidation

Assignment Help Financial Accounting

Reference no: EM13631425

3. Acquisition Entry and Consolidation Working Paper On January 31, 2014, Phoenix, Inc. acquired all of the outstanding common stock of Spark Corporation for $400 million cash plus 25 million shares of Phoenix'' $10 par value common stock having a market value of $90 per share. Registration fees were $5 million and merger-related consultant and legal fees were $8 million, paid in cash. Immediately prior to the acquisition, the trial balances of the two companies were A review of the fair values of Spark''s assets indicates that current assets are overvalued by $10 million, plant and equipment is undervalued by $200 million, and previously unreported brand names and trademarks have a fair value of $300 million. Required a. Prepare the entry Phoenix makes to record the acquisition of Spark. b. Prepare a working paper to consolidate the balance sheets of Phoenix and Spark at January 31, 2014.

Reference no: EM13631425

Questions Cloud

Light of wavelength 700 nm is incident on the face of a : light of wavelength 700 nm is incident on the face of a fused quartz prism n 1.458 at 700 nm at an incidence angle of

The index of refraction for red light in water is 1331 and : the index of refraction for red light in water is 1.331 and that for blue light is 1.340. a ray of white light enters

A globular cluster at its farthest point from the galactic : a globular cluster at its farthest point from the galactic center is at a distance of 104 pc.what is its period of

Accounting problem 3 acquisition entry and consolidation : 3. acquisition entry and consolidation working paper on january 31 2014 phoenix inc. acquired all of the outstanding

Case study as described in the module 7 power point : as described in the module 7 power point presentation criminologist gwynn nettler outlined all terrorism shares six

Business intelligence this is an assignment for business : this is an assignment for business intelligence. ltbrgtpersonal loan acceptance. the file universalbank.xls contains

Fiber optics derive the characteristic equation of the : derive the characteristic equation of the graded-index optical fiber.starting from maxells

Determine the rate of heat loss from the absorber plate by : some at plate solar collectors change their tilt angle throughout the day in order to intercept the maximum amount of

User Account

All Pages