Outstanding common stock for cash

Assignment Help Financial Accounting

Reference no: EM13921826

On January 3, 20X9, Jane Company acquired 75 percent of Miller Company's outstanding common stock for cash. The fair value of the non-controlling interest was equal to a proportionate share of the book value of Miller Company's net assets at the date of acquisition. Selected balance sheet data at December 31, 20X9, are as follows: Jane Miller Total Assets $504,000 $216,000 Liabilities $144,000 $72,000 Common Stock 120,000 60,000 Retained Earnings 240,000 84,000 $504,000 $216,000

a)$90,000

b)$54,000

c)$36,000

d)$0

Reference no: EM13921826

Questions Cloud

Devise a plan for accommodating conflicting responses : "Gathering System Requirements" Please respond to the following: Devise a plan for accommodating conflicting responses for the same procedure from two (2) different people you interviewed

Calculate the slope and the intercept of the supply curve : Calculate the slope and the intercept of the supply curve before the storm. Draw both supply curves on a new graph with P on the y-axis and Q on the x- axis. Add the demand curve (calculated in part a) to the graph.

Prepare the journal entries to record the bond transactions : Prepare the journal entries to record the bond transactions for 2013 and 2014.

Demographic information and moderator variables : Measuring crime involves tracking statistics such as demographic information and moderator variables related to the crimes. Moderator variables are any third variable in a correlation that affects the relationship between the first two variables.

Outstanding common stock for cash : On January 3, 20X9, Jane Company acquired 75 percent of Miller Company's outstanding common stock for cash. The fair value of the non-controlling interest was equal to a proportionate share of the book value of Miller Company's net assets at the date..

Exploring ancient mysteries : The cover page and the reference page are not included in the required assignment page length. For our purposes, you may omit any abstract page.

Potential legal and ethical issues : Recognize situations that present potential legal and ethical issues and develop solutions for those issues. Discuss the opportunities provided by technology for businesses.

Controllable variance : If productive capacity of 100% was 10,000 hours and the factory overhead cost budgeted at the level of 6,000 standard hours was $309,000, determine the variable factory overhead Controllable Variance, fixed factory overhead volume variance, and total..

What would happen to the equilibrium price and quantity : What would happen to the equilibrium price and quantity if income and the price of oil were both to increase at the same time? Give a brief economic explanation for why this would occur.

User Account

All Pages