Solution-What are the necessary consolidation entries for a

What are the necessary consolidation entries for a january

Reference no: EM132727256

On January 2, 2020, Kuehler Corporation's stockholder's equity accounts were as follows:

Common Stock, $1 par $100,000

Additional Paid in Capital $350,000

Retained Earnings $225,000

Kuehler's assets and liabilities had book values equal to fair values except for inventory, land and building which were undervalued by $50,000, $75,000, and $40,000, respectively. On January 2, 2020 Davis Corp. purchased all of Kuehler's common stock for $900,000 cash. There was no contingent consideration in the agreement to combine.

Problem a) What is the goodwill amount (show your calculation)

Problem b) What are the necessary consolidation entries for a January 2, 2020 balance sheet.

Reference no: EM132727256

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What are the necessary consolidation entries for a january

Reference no: EM132727256

Reference no: EM132727256

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