What are the consolidation worksheet entries for the end

Assignment Help Accounting Basics

Reference no: EM132480793

Accounts Payable $50,

Accounts Receivable $40,

Additional Paid in Capital $50,

Building (4 year remaining life, net) $120,

Cash $60, Common Stock $250,

Equipment (5 year remaining life, net) $200,

Inventory $90, Land $80,

Long-term liabilities (mature end of Year 4) $150,

Retained earnings (Beg Year 1) $100, and

Supplies $10

During year 1, Company B reported net income of $80 and paid dividends of $10. During Year 2, reported net income of $110, and paid dividends of $30.

Question 1: Company A again acquired all common stock of Company B for $500 cash. Fair value of Equipment $220, long-term Liabilities $120 at the date of acquisition. Company A uses the initial value method, what are the consolidation worksheet entries for the end of the first year, and the end of the second year

Reference no: EM132480793

Questions Cloud

Which model of minority-group integration : Which model of minority-group integration they think is the most predominant in the United States?

What are the consolidation worksheet entries for year : Company A acquires all the common stock, Company A uses the partial equity method, what are the consolidation worksheet entries for year 1 and year 2?

Effects of the sixties scoop on indigenous families : What have been the short and long term effects of the Sixties Scoop on Indigenous families? Do you think government reaction to this issue has been appropriate?

Is this strategy agreeable or disagreeable : Married couples who are having difficulties may stay together for the "sake of the children." Is this strategy agreeable or disagreeable?

What are the consolidation worksheet entries for the end : Company A uses the initial value method, what are the consolidation worksheet entries for the end of the first year, and the end of the second year

What do you mean by gentrification : What do you mean by gentrification? and who are mostly affected by gentrification and who gets benefit? explain with examples

Sign of a society good health : Do you agree with Coser that the presence conflict is actually a sign of a society's good health? Why or why not?

What are the total assets at the end : What are the total assets at the end of 2018? (Note: ignore any implications of interest on the loan.) Precision Builders Construction Company started in 2018.

How will the transaction impact apple balance sheet : When a customer brings in his/her iPhone 6s for a battery replacement under the battery replacement program, how will this transaction impact Apple's balance

User Account

All Pages