What consolidate balance for equipment account as of dec

Assignment Help Financial Accounting
Reference no: EM132519097

Plummer Corporation buys 80% of Matador Inc. on January 1, 2018, at a price in excess of the subsidiary's fair market value. On that date, Plummer's equipment (10 year life) has a book value of $300,000 but a fair market value of $400,000. Matador has equipment (10 year life) with a book value of $200,000 but a fair market value of $300,000. Plummer uses the partial equity method to record its investment in Matador. On December 31, 2020, Plummer has equipment with a book value of $210,000 but a fair market value of $330,000. Matador has equipment with a book value of $140,000 buy a fair market value of $270,000.

Question1 : What is the consolidated balance for the equipment account as of December 31, 2020?

Reference no: EM132519097

Questions Cloud

What the net profit margin of the firm is : If a firm has an operating income of $225,000, revenues of $900,000, and interest expense, other expenses, the net profit margin of the firm is
How stringent or similar should ethical principles be : How stringent or similar should ethical principles be to the standards placed on the conduction of clinical and/or educational research?
SXL-4041 International Criminal Law Assignment : SXL-4041 International Criminal Law Assignment Help and Solution, Bangor University - Assessment Writing Service - crimes against humanity under criminal law
Calculate the elasticity of substitution in case : Calculate the elasticity of substitution in this case and elaborate on your answer.
What consolidate balance for equipment account as of dec : Matador has equipment with a book value of $140,000 buy a fair market value. What is the consolidated balance for the equipment account as of December 31, 2020?
What barriers or challenges would you anticipate : Telenursing and telemedicine will only be successful if patients engage in the program. You have been asked by your manager to pilot a program aimed.
What is the profit maximizing output : If this firm is operating in an efficient market with the market price of $50m, what is the profit maximizing output?
Current blue ocean supply chain : What is the current Blue Ocean supply chain and how does it impact the company? How can we establish a returns process to improve customer satisfaction?
Describe the human factors faced in the role : Conduct an interview with someone in an informatics role in a clinical setting. Then, in a Microsoft Word document of 5-6 pages formatted in APA style.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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