Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Equity method of accounting for Investments On January 2, 2011, Coca-Cola Company acquired 45% of the stocks of Coca-Cola FEMSA for $30 million in cash. Coca-Cola Company accounts for its investment using the equity method. At the time of acquisition, Coca-Cola FEMSA' balance sheet was as follows (in millions): Assets : Current Assets 20 Property & equipment, net 415 Patents & Trademarks 150 Total Assets 585 Liabilities & Equity Curent Liability 42 Longterm debt 518 Capital Stock 12 Retained Earnings 13 Total Liability & Equity 585 Valuation of Coca-Cola FEMSA' assets and liabilities revealed that its reported patents and trademarks (10-year life) had a fair value of $160 million and it had unrecognized brand names (15-year life) worth $9 million. Coca-Cola FEMSA's December 31, 2014, retained earnings balance is $25 million. For 2014, it reported net income of $2.5 million and paid $650,000 in dividends. Required: 1. Prepare the 2014 entries to report the above information on Coca-Cola' books? Show all your calculations. 2. Calculate the Investment in Coca-Cola FEMSA balance, reported on Coca-Cola' December 31, 2014 Show all your calculations
On January 1, 2010, Priscilla signed a FIVE year lease to rent office space from Marjorie. The lease commenced immediately on January 1, 2010. During 2010, Priscilla paid Marjorie $24,000 for the first year's rent, $2,000 for the last month's rent..
Prepare the journal entry to record each of the following independent transaction. (Use the number of the transaction in lieu of a date for identification purposes.)
Write a short MEMO in IRAC format - Issues, rules, analysis and conclusion. Wheeler purchased two parcels of real property for $10,000 each in Year 1 and held the property for investment.
Rolla Company was founded in 2010. It acquired $30,000 cash by issuing stock to investors and an additional $20,000 cash by borrowing from creditors. During 2010 it received $15,000 cash revenues and paid $22,000 in cash expenses.
Race decided to use the equity method to account for this investment. What was the noncontrolling interest's share of consolidated net income?
Prepare a sales budget with columns for each region and for the company in total for the month of June.
A certain airplane has two independent alternators to provide electrical power.The probability that a given alternator will fail on a 1-hour flight is .02. What is the probability that (a) both will fail? (b) Neither will fail? (c) One or the othe..
What is the major source of the change in net assets that occurred in 2007 from the change that occurred in 2008? In your opinion, is this trend likely to continue? Why/why not?
Barnes and Miller manufacturing is trying to determine the equivalent units for coversion costs with 3000 units of ending work in process at 80% completion and 14000 physical units. there are no beginning units in the department.conversion costs o..
Compare the total tax burden for Carol and the corporation with and without the S election. Consider both income and employment taxes. Carol is single and does not itemize her deductions.
Prepare a bond discount amortization schedule which shows the amortization of discount for the first two interest payment dates. (Round to the nearest dollar.)
When a fast food chain store, say Wendy's, chooses to acquire the largest cattle ranch in Nebraska, this is said to be a clear example of vertical integration.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd