Reference no: EM13546696
Par Corporation acquired a 70 percent interest in Sol Corporation's outstanding voting common stock on January 1, 2011, for $490,000 cash. The stockholders' equity of Sol on this date consisted of $500,000 capital stock and $100,000 retained earnings. The difference between the fair value of Sol and the underlying equity acquired in Sol was assigned $5,000 to Sol's undervalued inventory, $14,000 to undervalued buildings, $21,000 to undervalued equipment, and $60,000 to goodwill.
The undervalued inventory items were sold during 2011, and the undervalued buildings and equipment had remaining useful lives of seven years and three years, respectively. Depreciation is straight line.
At December 31, 2011, Sol's accounts payable include $10,000 owed to Par. This $10,000 account payable is due on January 15, 2012. Par sold equipment with a book value of $15,000 for $25,000 on June 1, 2011.
This is not an intercompany sale transaction. Separate financial statements for Par and Sol for 2011 are summarized as follows (in thousands):
REQUIRED:
Prepare consolidation workpapers for Par Corporation and Sol for the year ended December 31, 2011. Use an unamortized excessaccount.
|
List the inputs necessary to determine the stress in the
: Assuming you had the necessary inputs to get a numerical value for both c and d, how might your numerical answers for both c and d vary if the polymer tensile member is located in MI versus TX? Why?
|
|
How the equation for splitting tensile strength of a concret
: Need to know how the equation for splitting tensile strength of a concrete cylinder f(ct) = 2P/pi*D*L is derived using mechanics of materials or linear elasticity approach.
|
|
What is the optimal number of orders per year
: What is the average inventory if the EOQ is used, what is the optimal number of orders per year
|
|
Find the centroid for the cone
: A single-scoop ice cream cone is a composite body made from a single scoop of ice cream placed into a cone. (Part B 1 figure) Assume that the scoop of ice cream is a sphere with radius r = 1.67
|
|
Prepare consolidation workpapers for par corporation
: Prepare consolidation workpapers for Par Corporation and Sol for the year ended December 31, 2011. Use an unamortized excessaccount.
|
|
What are the inputs needed to determine stress a polymer
: What are the inputs needed to determine stress a polymer with a fixed end on one side, and the other with a tension force of 50,000 lbs a year after the load is applied?
|
|
Compute the maximum horizontal shear stress at the neutral
: A solid rectangular simply supported timber beam 6 in wide, 20 in deep, and 10 ft long carries a concentrated load of 16,000 lb at midspan. Use nominal dimensions.
|
|
Estimate the settlement of the footing four years after
: A proposed square footing 2 meters by 2 meters carrying a total load of 800 kN is to be constructed on a sand deposit. The depth of the footing will be 1 meter below the ground surface
|
|
Prepare the t-accounts and journal entries
: Prepare the T-accounts for raw materials inventory, work in process inventory, finished goods inventory, manufacturing overhead, and cost of goods sold. Don't forget to enter the beginning balances in the inventory accounts.
|