In january 1 2009 vacker co acquired 70 of carper inc by

Assignment Help Accounting Basics

Reference no: EM13575945

In January 1, 2009, Vacker Co. acquired 70% of Carper Inc. by paying $650,000. This included a $20,000 control premium. Carper reported common stock on that date of $420,000 with retained earnings of $252,000. A building was undervalued in the company's financial records by $28,000. This building had a ten-year remaining life. Copyrights of $80,000 were to be recognized and amortized over 20 years. Carper earned income and paid cash dividends as follows: Net Income Dividends Paid 2009 105,000 54,600 2010 134,400 61,600 2011 154,000 84,000 On December 31, 2011, Vacker owed $30,800 to Carper. There have been no changes in Carper's common stock account since the acquisition. If the equity method had been applied by Vacker for this acquisition, what are the consolidation entries needed as of December 31, 2011?

Reference no: EM13575945

Questions Cloud

Consider the following two designs for a 28-3 fractional : question consider the following two designs for a 28-3 fractional factorial design.design inbsp design

Compute the current ratio for year 1 year 2 and year 3 for : compute the current ratio for year 1 year 2 and year 3 for company a.1 preparing a common-size income statementcompany

According to the textbook frauds can be classified by : according to the textbook frauds can be classified by victim by perpetrator and by scheme. but the textbook only

Analyze the data as a paired data experiment using a t-test : question two different methods were used to determine the yield of a chemical. the experiment was run using eight

In january 1 2009 vacker co acquired 70 of carper inc by : in january 1 2009 vacker co. acquired 70 of carper inc. by paying 650000. this included a 20000 control premium. carper

If profit margin 10 fraud loss 436million then why the : if profit margin 10 fraud loss 436million then why the revenue to restore the effect on net income is 4.36 billion

Citations are required you must provide citations whenever : you are a cpa with an office in nearlakes city and clients consisting primarily of professionals entrepreneurs and

Grocery corporation received 300328 for 250000 11 bonds : grocery corporation received 300328 for 250000 11 bonds issued on january 1 2009 at a market interest rate of 8. the

Two different methods were used to determine the yield of a : q1. two different methods were used to determine the yield of a chemical. the experiment was run using eight different

User Account

All Pages