Reference no: EM131260488
Matthews Co. acquired all of the common stock of Jackson Co. on January 1, 2012. As of that date, Jackson had the following trial balance:
During 2012, Jackson reported net income of $96,000 while paying dividends of $12,000. During 2013, Jackson reported net income of $132,000 while paying dividends of $36,000.
Assume that Matthews Co. acquired the common stock of Jackson Co. for $588,000 in cash. As of January 1, 2012, Jackson's land had a fair value of $102,000, its buildings were valued at $188,000, and its equipment was appraised at $216,000. Any excess of consideration transferred over fair value of assets and liabilities acquired is due to an unamortized patent to be amortized over 10 years.
Matthews decided to use the equity method for this investment.
Required:
(A) Prepare consolidation worksheet entries for December 31, 2012.
(B) Prepare consolidation worksheet entries for December 31, 2013.
|
Explain emergency response disaster from hurricane katrina
: Explain the emergency response disaster from Hurricane Katrina and describe how these changes in emergency management affected the planning and response toward Hurricane Sandy.
|
|
Operating systems for mainframe computers
: What are the main differences between operating systems for mainframe computers and personal computers? Describe in detail the difference between the client-server and peer-to-peer models of distributed systems.
|
|
Find the maximum allowable value of p
: The compound bar carries the axial forces P and 2P. Find the maximum allowable value of P if the working stresses are 40 ksi for steel and 20 ksi for aluminum, and the total elongation of the bar is not to exceed 0.2 in.
|
|
Why was the exposure assessment conducted
: Why was the exposure assessment conducted? What type of sampling (personal or area) was conducted, and why? What are the chemicals that were sampled, and what are their hazards?
|
|
Prepare consolidation worksheet entries
: Matthews Co. acquired all of the common stock of Jackson Co. on January 1, 2012. As of that date, Jackson had the following trial balance: During 2012, Jackson reported net income of $96,000 while paying dividends of $12,000. During 2013, Jackson rep..
|
|
Explain the primary manner in which the source
: The textbook describes cognitive dissonance as the difference between our beliefs and our actions. Provide three (3) examples of cognitive dissonance that you have experienced. Describe at least two (2) potential behaviors or consequences that can..
|
|
Find the expected daily breakdown cost
: Each breakdown of a graphic plotter table at Airbus Industries costs $50. Find the expected daily breakdown cost, given the following data:-
|
|
Determine the approximate elongation of the bar
: Determine the approximate elongation of the bar caused by the 20-kN axial load.
|
|
Planning process for networks and network security
: Many times in the IT world redundancy is avoided. However, some state that redundancy is part of the recommended planning process for networks and network security.
|