What is the amount of the gain or loss on the sale

Assignment Help Accounting Basics
Reference no: EM133067440

Question - Par Inc purchased 74.53% of Sub Corp's total outstanding voting shares for $399,703 on January 1, Year 3. The carrying value of Sub's identifiable net assets was $342,598 on that date. All of Sub's assets and liabilities had their fair values and carrying values the same, except for a Patent whose fair value was $57,090 higher on the date of acquisition. On the next day, Par sold 11.97% of its Sub shares on the open market for $65,955. What is the amount of the gain or loss on the sale of the shares on the next day?

a. $19,016

b. $19,469

c. $18,563

d. $18,111

e. $17,658

Reference no: EM133067440

Questions Cloud

Draw a decision tree for this problem : If yield is medium, the farmer will make $20,000 and there is a 50% possibility of this occurring. Draw a decision tree for this problem
Benefit consumers of shipping services : A country imposes an import fee on the crude oil it imports. Imagine that all the crude oil imports to the country are made by ships owned by its nationals. The
MANAGING DYNAMIC-Core business process activities : An enterprise resource planning (ERP) system is a set of business applications that are integrated to provide support for core business process activities.
What is human resource planning : What is human resource planning and how it is linked to organisation achievement within an organisation?
What is the amount of the gain or loss on the sale : Par sold 11.97% of its Sub shares on the open market for $65,955. What is the amount of the gain or loss on the sale of the shares on the next day
What is the meaning of a colonial legacy : What is the meaning of a "colonial legacy"? Discuss any disadvantages and possible advantages
Short-run supply curve of the firm : The individual firm's short run total cost function is given by: STC = 340 + 4Q + 3Q 2. The sunk costs amount to $148. The market demand for X is given by: D(P)
What is the total amount of after-tax unrealized profit : The tax rate for both companies is 28.83%. What is the total amount of after-tax unrealized profit remaining at the end of Year 3
Find largest trading partners in 2040 : Consider the following: In 2020, China's GDP is $14.5 trillion, India's is $3.2 trillion and US GDP is $21 trillion. The distance between China and the US is 40

Reviews

Write a Review

Accounting Basics Questions & Answers

  Calculate the probabilities for an teenagers

Assuming that one must complete elementary school before completing middle school, calculate the following probabilities for an teenagers

  How much is the estimated inventory loss from the flood

Damaged merchandise originally marked to sell at P30,000 had an estimated realizable value of P8,000. How much is the estimated inventory loss from the flood

  By what amount will Ws shareholder equity be increased

The options are exercised on April 2, 2023, when the market price is $21 per share. By what amount will W's shareholder's equity be increased

  Record the impairment of the loan by paris bank

On December 31, 2014, Firth Company borrowed $62,092 from Paris Bank, signing a 5-year, $100,000 zero-interest-rate note.

  Compute the profit that you would earn

Compute the profit that you would earn using triangular arbitrage. Enter "0", if you incur a loss. Do not round intermediate calculations

  Prepare consolidation Entry B at December

On January 1, 2018, Saint purchased $100,000 of Day Corporation's 9% bonds for $103,993, Prepare consolidation Entry B at December

  Explain some examples of input validation

Explain some examples of input validation checks that you have noticed when filling out forms on websites you have visited.

  How to record the donations meant to fund ongoing costs

The major discussion was how to record the donations meant to fund ongoing maintenance costs.

  Company a wants to expand it is considering a purchase of

company a wants to expand. it is considering a purchase of company b for 3 million dollars. company b has a 700000 tax

  Greene company uses a plantwide overhead rate with

greene company uses a plantwide overhead rate with direct-labor hours as the allocation base. use the following

  How much cash was provided by operating activities

Prepaid expenses and accounts payable decreased by $2000 and $36000, respectively. How much cash was provided by operating activities

  What is the adjustment for the expired rent

Company paid $26,000 rent in advance for the six month period ( November2019 through April 2020). On December 31, 2019 the adjustment for the expired rent

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