What amount should be reported as total stockholders equity

Assignment Help Accounting Basics
Reference no: EM132065360

Question - Mr. Wilson own 100% of the common stock of ABC Corp. and 80% of the common stock of DEF Corp. ABC previously paid $6,000 for the remaining 20% interest in DEF. The condensed December 31, year 1 balance sheets of ABC and DEF are as follows:

ABC DEF

Assets $500,000 $50,000

Liabilities $200,000 $20,000

Common stock $140,000 $10,000

Retained earnings $160,000 $20,000

$500,000 $50,000

In a combined balance sheet of the two corporations at December 31, year 1, what amount should be reported as total stockholders' equity?

a. $430,000

b. $426,000

c. $403,000

d. $400,000

Reference no: EM132065360

Questions Cloud

What is the principal role of a union : Within your post, support your responses with information from at least one peer-reviewed/scholarly source (not older than 3-5 years) from CSU-Global.
What amount should be reported as total retained earnings : In ABC's December 31, year 1 consolidated balance sheet, what amount should be reported as total retained earnings
Then compute the present value of each series. : Draw diagrams of the following cash flow series. Then compute the present value of each series. The interest rate is 6% per year.
Key differences between internal and external consultants : Discuss the key differences between internal and external consultants. Discuss which role you think would be more challenging and why.
What amount should be reported as total stockholders equity : In a combined balance sheet of the two corporations at December 31, year 1, what amount should be reported as total stockholders' equity
Wish to raise some money for your favorite local charity : Suppose you wish to raise some money for your favorite local charity. how much would you have to fund this perpetuity to guarantee the charity a payment of $50,
What amount should abc report as consolidated cost : Several years ago, ABC bought DEF Company. What amount should ABC report as consolidated cost of goods sold
What is total amount reported on consolidated balance sheet : Assume that there were no allocations established at the date of acquisition. What is the total amount reported on the consolidated balance sheet
What would be the dividend liability : What would be the dividend liability at the end of 2013 on the statement of financial position

Reviews

Write a Review

Accounting Basics Questions & Answers

  Compute the cost of goods sold and the ending inventory cost

Compute the cost of goods sold and the ending inventory cost for the month of June using the weighted-average cost method

  What is the amount of accumulated depreciation

What is the amount of accumulated depreciation at December

  Discuss the unearned revenue account balance

just adjusting net income for the change in the unearned revenue account balance

  I the chart of accounts is represented with a table in

the chart of accounts is many times described in financial accounting as the central element of a general ledger

  Prepare journal entries for the transactions above

Presented below are selected transactions of Molina Company. Prepare journal entries for the transactions above

  Bobs bobcats can make two models of bobcats - the bill and

bobs bobcats can make two models of bobcats - the bill and the buck. each bill sells for 7500 has 5000 in variable

  Calculate the additions to the work-in-process

Calculate the companys predetermined overhead application rate - Calculate the additions to the work-in-process inventory account for the direct material used, direct labor, and manufacturing overhead.

  List all the foreign key constraints among the relations

Consider the relations Students, Faculty, Courses, Rooms, Enrolled, Teaches, and Meets_In defined. List all the foreign key constraints among these relations.

  Calculate inventory amounts at the end of each year

On January 1, 2016, Avondale Lumber adopted the dollar-value LIFO inventory method. Calculate inventory amounts at the end of each year

  What is your annualized after tax rate of return

Suppose you invest $100,000 in a C corporation for 10 years. You expect the corporation to earn 8% pa before any corporate taxes and any investor level taxes.

  Description of the adjustment

A description of the adjustment and why it is necessary. Provide an example of the transaction; include the debit and credit, with dates and amounts.

  Journalize the following transactions in the accounts of

journalize the following transactions in the accounts of cecena medical co. a medical equipment company that uses the

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd