User Account

All Pages

What are consolidated total assets immediately

Assignment Help Financial Accounting
Reference no: EM132487264

Handel Company                                           Tallton Company

Balance Sheet                                                 Balance Sheet

January 1, 2X18                                         January 1, 2X18

Cash $ 70                                                Cash $340

Net Fixed Assets 270                           Net Fixed Assets 195

Total Assets $340                                Total Assets $535

Accounts Payable $ 50                          Accounts Payable $ 105

Long-term Bonds Pay. 130                     Long-term Bonds Pay. 185

Stockholders' Equity 160                        Stockholders' Equity 245

Total Liab. & Equity $340                         Total Liab. & Equity $535

Point 1: On January 1, 2X18, Tallton Company acquired 100% of the outstanding common stock of Handel Company for $240 in cash. Assume the book value of Handel's assets is understated by $15 and liabilities are understated by $12.

Question 1: What are consolidated total assets immediately after the acquisition?

Reference no: EM132487264

Questions Cloud

How is work gendered and sexed : How is work gendered and sexed? Provide an example. What are the differences in pay in gendered and sexed work? How might we remedy this disparity?
What is the quick ratio for quebec electronics : What is the quick ratio for Quebec Electronics in 2019? Has the quick ratio improved or not improved since 2018? Quebec Electronics has the following data
Lessen the effects of gender stratification : What can be done to lessen the effects of gender stratification in the workplace and on income inequality? How does gender stratification harm both men
Analysis of future wireless technologies : Utilise standards-based technologies used in various networks and Test and compare the performance of various wireless networks
What are consolidated total assets immediately : What are consolidated total assets immediately after the acquisition? On January 1, 2X18, Tallton Company acquired 100% of the outstanding common stock
Discuss the topic the future of blockchain : This week's reading discussed the current state of blockchain technology and suggested what the technology may look like in the near future.
Does media have an influence on women : Does media have an influence on women? How they look? Is there a relationship between media portrayals of gender and ourselves?
What was the lexar net income : Lexar began 2017 with $628,000 in liabilities and ended the year with $287,000 in liabilities. Assuming Lexar paid $124,000 in dividends, Lexar 2017 net income
Describe the recommendation citing the source : Research methods to Secure Windows Applications Policy and write a high-level procedure guide. Write 300 to 500 words in APA format.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Cost of units transferred out from the department

In February, one of the processing departments at Manger Corporation had beginning work in process inventory of $25,000 and ending work in process inventory of $34,000. During the month, $290,000 of costs were added to production and the cost of unit..

  How much was the company''s long-term debt at year end

How much was the company's long-term debt at year end? Compute the company's debt to equity ratio at year end. How does it compare to the industry? What does this tell you about the company?

  Discuss how differences between pooling and purchase account

Discuss how differences between pooling and purchase accounting for acquisitions affect future reported earnings if the Pierson/Drew business combination.

  Companys statement of cash flows for the fiscal year

The accountant for Crusoe Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available: Retained earnings balance at the beginning of the year $ 129,000 Cash dividends declared for ..

  Two basic requirements for the accrual of loss contingency

The two basic requirements for the accrual of a loss contingency are supported by several basic concepts of accounting. Three of these concepts are: periodicity (time periods), measurement, and objectivity. Discuss how the two basic requirements for ..

  Define increase assets and increase and increase liabilities

Purchasing a building for $100,000 by paying cash of$ 20,000 and obtaining a mortgage for $ 80,000 would

  Compute the net interest expense to be reported

Compute the net interest expense to be reported for this note and related swap transaction as of December 31, 2018. Compute net interest expense to be reported

  Prepare journal entries to record income and deffered tax

On January 1, 2014, Valley Company entered into a 3-year construction contract that had an estimated gross revenue of P3,000,000. The entity used the percentage of completion method in recognizing income on its books.

  Recognize as long-term capital gain income

Lucy owns 150 shares of Apex Corp., a publicly traded company, which Lucy purchased on January 1, Year 1, for $15,000. On January 1, Year 3, Apex declared a 2- for-1 stock split when the fair market value (FMV) of the stock was $140 per share. What a..

  What is procedural due and substantive due process

In the Australian accounting sphere the concept of due process is applied within the institutional arrangements for regulating financial reporting and falls particularly within the promulgation of accounting standards.

  How many shares of common stock are outstanding

How many shares of common stock are outstanding and assuming that all shares were sold at the same price, what was the original selling price per share?

  Expense recognition

Expense Recognition: Applying U.S GAAP indicate the amount of expenses the firm recognizes during the months of june, july and august in each of the following hypothetical transactions. Pays $180,000 on July 1 for the one year’s rent on a warehouse b..

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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