Prepared at the date of the acquisition combination

Assignment Help Financial Accounting

Reference no: EM13913046

Fine Co. issued its common stock in exchange for the common stock of Dandy Corp. in an acquisition. At the date of the combination, Fine had land with a book value of $520,000 and a fair value of $595,000. Dandy had land with a book value of $230,000 and a fair value of $290,000. What was the consolidated balance for Land in a consolidated balance sheet prepared at the date of the acquisition combination?

Reference no: EM13913046

Questions Cloud

Statement of stockholders equity for power drive corporation : Power Drive Corporation designs and produces a line of golf equipment and golf apparel. Power Drive has 100,000 shares of common stock outstanding as of the beginning of 2015. Power Drive has the following transactions affecting stockholders' equity ..

Compute the margin of safety in dollars and ratio : Glacial Company estimates that variable costs will be 60% of sales, and fixed costs will total $1,142,160. The selling price of the product is $6. Compute the break-even point in (a) units and (b) dollars. Compute the margin of safety in (c) dollars ..

Uses exclusively for personal purposes : Susan owns a car that she uses exclusively for personal purposes. its original coast was $26,000, and the fair market value is $12,000. She exchanges the car and $18,000 cash for a new car. Determine when Susan's holding period for for new car begins..

Cash account is provided by the statement of cash flows : What information about the cash account is provided by the Statement of Cash Flows that cannot be obtained from the Balance Sheet or from the Income Statement? What is the difference between a trading security and an available-for-sale security? Why ..

Prepared at the date of the acquisition combination : Fine Co. issued its common stock in exchange for the common stock of Dandy Corp. in an acquisition. At the date of the combination, Fine had land with a book value of $520,000 and a fair value of $595,000. Dandy had land with a book value of $230,000..

About the portfolio of securities : Norton Co. purchased the following portfolio of securities during 2014 and reported the following balances at December 31, 2014. No sales occurred during 2014. What amount should Norton Co. report on its income statement related to these securities?

Present unique challenges with inventory : Grocery stores present unique challenges with inventory. In addition to a high volume of transactions, there are also temperature and shelf-life considerations for certain items. Discuss how you would approach an inventory audit of a grocery store an..

Prepare the journal entry to record the transaction : On December 31, 2012, Ed Abbey Co. performed environmental consulting services for Hayduke Co. Hayduke was short of cash, and Abbey Co. agreed to accept a $291,500 zero-interest-bearing note due December 31, 2014, as payment in full. Prepare the jour..

User Account

All Pages