What amount should be shown for balance sheet

Assignment Help Accounting Basics
Reference no: EM131826959

Question - Hanson Co. acquired all of the common stock of Roberts Inc. on January 1, 2010, transferring consideration in an amount slightly more than the fair value of Roberts' net assets. At that time, Roberts had buildings with a twenty-year useful life, a book value of $600,000, and a fair value of $696,000. On December 31, 2011, Roberts had buildings with a book value of $570,000 and a fair value of $648,000. On that date, Hanson had buildings with a book value of $1,878,000 and a fair value of $2,160,000.

Required: What amount should be shown for buildings on the consolidated balance sheet dated December 31, 2011?

Reference no: EM131826959

Questions Cloud

List the step in the detailed security risk analysis process : List the steps in the detailed security risk analysis process. Define asset, control, threat, risk, and vulnerability.
Strategic overview of the project : Provide a project plan including relevant output/reports and data capture using Microsoft Project, or other project tools
Who provide key information when determining each key assets : Who provides the key information when determining each of the key assets, their likelihood of compromise, and the consequence should any be compromised.
What is the simple equation for determining risk : Define consequence and likelihood. What is the simple equation for determining risk? Why is this equation not commonly used in practice?
What amount should be shown for balance sheet : Required: What amount should be shown for buildings on the consolidated balance sheet dated December 31, 2011
Explore reasonable values for the items in the risk register : Explore reasonable values for the items in the risk register for this asset and threat, and provide justifications for your choices.
Describe reasonable values for the items in risk register : Describe reasonable values for the items in the risk register for this asset and threat, and provide justifications for your choices.
Calculate the long-term debt total capitalization : Using the data provided in the accompanying financial statement, calculate the Long-term debt Total Capitalization and EBIT/Interest Expense
Suggest reasonable values for the items in the risk register : Suggest reasonable values for the items in the risk register for this asset and threat, and provide justifications for your choices.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Prepare an accrual basis income statement for the year

Prepare an accrual basis income statement for the year

  The michigan corporation owns 20 of the wolverine

the michigan corporation owns 20 of the wolverine corporation. the wolverine stock was acquired eight years ago to

  The building and equipment are estimated to cost 2000000

thurman munster the owner of adams family rvs is considering the addition of a service center his lot. the building and

  Compute depreciation expense on the machine for the year

Compute depreciation expense on the machine for the year ending December 31, 2010, and the year ending December 31, 2011, using the following methods

  Determine the allocated factory overhead cost

Determine the Allocated Factory Overhead cost for the month of August using the following information. The allocation base is direct labor cost.

  Discuss what is the maximum income tax rate

What is the maximum income tax rate that applies to the employee salary, the employment tax rate

  Predict the molecular geometry around all central atoms

Predict the molecular geometry around all central atoms

  Discuss what gain would be recognized from sale

what gain would be recognized from this sale. Include both the amount and the nature of the gain

  Perform the hypothesis test and state your conclusions

Late payment of medical claims can add to the cost of health care. Perform the hypothesis test and state your conclusions and evidence

  Market price of the common stock averaged

On December 31, 2012, Dow Steel Corporation had 600,000 shares of common stock and 300,000 shares of 8%, noncumulative, nonconvertible preferred stock issued and outstanding.

  Out of eden inc is planning to invest in new manufacturing

out of eden inc. is planning to invest in new manufacturing equipment to make a new garden tool. the new garden tool is

  What balances does a consolidated balance sheet report

Assume that the U.S. dollar is the subsidiary's functional currency. What balances does a consolidated balance sheet report as of December 31, 2011?

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