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8-2 Project One W X Question 1 of 1-3 x COVER | Advanced X D21 Module Three Shox Codification X ACC 405 Module x Acc 405 module 3 X apa citation forma y.com/was/ui/v2/assessment-player/index.html?launchid=a98079fe-6762-4645-8bf3-48d8fac46f6f#/question/0 Nach Question 1 of 1 View Policies 11 E! Current Attempt in Progress On January 1, 2024. Metlock Company purchased 7.400 shares of Bonita Company's common stock for $132,000. Immediately after the stock acquisition, the statements of financial position of Metlock and Bonita appeared as follows: Assets Metlock Bonita Cash $42.000 $17.400 Accounts receivable 52.380 32.550 Inventory 38.080 25.190 Investment in Bonita Company 132.000 Plant assets 154.140 105.930 Accumulated depreciation plant assets (47.800) (18.700) $370,800 $162.370 Total Liabilities and Owners' Equity Current liabilities $19,220 $24.570 37.450 Mortgage notes payable Common stock, $10 par value 125.730 92.500 143,170 16.060 Other contributed capital 45.230 29.240 Retained earnings $370,800 $162,370 Total (a) Calculate the percentage of Bonita acquired by Metlock Company. Percentage of Bonita acquired Save for Later % ViewSonic Attempts: 0 of 1 used Submit Answer

8-2 Project One W X Question 1 of 1-3 x COVER | Advanced X D21 Module Three Shox Codification X ACC 405 Module x Acc 405 module 3 X apa citation forma y.com/was/ui/v2/assessment-player/index.html?launchid=a98079fe-6762-4645-8bf3-48d8fac46f6f#/question/0 Nach Question 1 of 1 View Policies 11 E! Current Attempt in Progress On January 1, 2024. Metlock Company purchased 7.400 shares of Bonita Company's common stock for $132,000. Immediately after the stock acquisition, the statements of financial position of Metlock and Bonita appeared as follows: Assets Metlock Bonita Cash $42.000 $17.400 Accounts receivable 52.380 32.550 Inventory 38.080 25.190 Investment in Bonita Company 132.000 Plant assets 154.140 105.930 Accumulated depreciation plant assets (47.800) (18.700) $370,800 $162.370 Total Liabilities and Owners' Equity Current liabilities $19,220 $24.570 37.450 Mortgage notes payable Common stock, $10 par value 125.730 92.500 143,170 16.060 Other contributed capital 45.230 29.240 Retained earnings $370,800 $162,370 Total (a) Calculate the percentage of Bonita acquired by Metlock Company. Percentage of Bonita acquired Save for Later % ViewSonic Attempts: 0 of 1 used Submit Answer

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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8-2 Project One W X Question 1 of 1-3 x COVER | Advanced X D21 Module Three Shox Codification X ACC 405 Module x Acc 405 module 3 X apa citation forma y.com/was/ui/v2/assessment-player/index.html?launchid=a98079fe-6762-4645-8bf3-48d8fac46f6f#/question/0 Nach Question 1 of 1 View Policies 11 E! Current Attempt in Progress On January 1, 2024. Metlock Company purchased 7.400 shares of Bonita Company's common stock for $132,000. Immediately after the stock acquisition, the statements of financial position of Metlock and Bonita appeared as follows: Assets Metlock Bonita Cash $42.000 $17.400 Accounts receivable 52.380 32.550 Inventory 38.080 25.190 Investment in Bonita Company 132.000 Plant assets 154.140 105.930 Accumulated depreciation plant assets (47.800) (18.700) $370,800 $162.370 Total Liabilities and Owners' Equity Current liabilities $19,220 $24.570 37.450 Mortgage notes payable Common stock, $10 par value 125.730 92.500 143,170 16.060 Other contributed capital 45.230 29.240 Retained earnings $370,800 $162,370 Total (a) Calculate the percentage of Bonita acquired by Metlock Company. Percentage of Bonita acquired Save for Later % ViewSonic Attempts: 0 of 1 used Submit Answer
Transcribed Image Text:8-2 Project One W X Question 1 of 1-3 x COVER | Advanced X D21 Module Three Shox Codification X ACC 405 Module x Acc 405 module 3 X apa citation forma y.com/was/ui/v2/assessment-player/index.html?launchid=a98079fe-6762-4645-8bf3-48d8fac46f6f#/question/0 Nach Question 1 of 1 View Policies 11 E! Current Attempt in Progress On January 1, 2024. Metlock Company purchased 7.400 shares of Bonita Company's common stock for $132,000. Immediately after the stock acquisition, the statements of financial position of Metlock and Bonita appeared as follows: Assets Metlock Bonita Cash $42.000 $17.400 Accounts receivable 52.380 32.550 Inventory 38.080 25.190 Investment in Bonita Company 132.000 Plant assets 154.140 105.930 Accumulated depreciation plant assets (47.800) (18.700) $370,800 $162.370 Total Liabilities and Owners' Equity Current liabilities $19,220 $24.570 37.450 Mortgage notes payable Common stock, $10 par value 125.730 92.500 143,170 16.060 Other contributed capital 45.230 29.240 Retained earnings $370,800 $162,370 Total (a) Calculate the percentage of Bonita acquired by Metlock Company. Percentage of Bonita acquired Save for Later % ViewSonic Attempts: 0 of 1 used Submit Answer
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