Consolidated financial statements for the year

Assignment Help Accounting Basics

Reference no: EM13147373

Red Co. acquired 100% of Green, Inc. on October 1, 2009. On January 1, Green had inventory with a book value of $42,000 and a fair value of $52,000. This inventory had not yet been sold at December 31, 2009. Green had a building with a book value of $200,000 and a fair value of $300,000. Green had equipment with a book value of $350,000 and a fair value of $280,000. The building had a 10-year remaining useful life and the equipment had a 5-year remaining useful life. How much amortization expense will be on the consolidated financial statements for the year ended December 31, 2009 related to the acquisition of Green?

a. $43,000

b. $33,000

c. $5,000

d. $15,000

e. $0

Reference no: EM13147373

Questions Cloud

Smaller signal is observed at a mass higher : In a typical mass spectrum, a smaller signal is observed at a mass 1 amu higher than the molecular ion peak. Why? A) Due to small impurities in the sample

How would you describe radioactive decay? : How would you describe radioactive decay? Give a real-world application of this concept. Name two types of radiation emitted by radioisotopes and identify a difference between these two types of radiation

What is the amount of the impairment : The expected, undiscounted, net cash flows from the use of the asset and the eventual disposition are determined to be $760,000, and it has a current market value of $710,000. What is the amount of the impairment, if any, that should be recorded b..

Find probability that teenage boy has high cholesterol level : Standard deviation = 30 (Source: U.S. National Center for Health Statistics). Levels above 200 warrant attention. Find the probability that a teenage boy has a cholesterol level greater than 200.

Consolidated financial statements for the year : How much amortization expense will be on the consolidated financial statements for the year ended December 31, 2009 related to the acquisition of Green?

The orbital semimajor axis of this extrasolar planet : A hot jupiter nicknamed osiris has been found around a star, HD 209458, which has the same mass as the sun. it orbits the star only 3.524 days. what is the orbital semimajor axis of this extrasolar planet?

How many moles of helium are in such a cylinder : A large cylinder of He gas,such as that used to inflate balloons,has a volume of 25.0 L at 22 Celsius and 5.6 atm. how many moles of He are in such a cylinder ?

A specific gravity test : A 0.34 lb sample of soil was obtained from a split barrel sampler and its volume was found to be 0.002307 ft3. The sample was then oven dried to a constant mass of 0.27 lb. A specific gravity test determined that the soil has a specific gravity of so..

Balance of the treasury stock : The stock options had been granted for $12 per share. The cost method is used. What is the balance of the treasury stock on Grant's balance sheet at December 31, 2011?

User Account

All Pages