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The condensed financial statements for Aylmer Inc and London Co for the year ended December 31, Year 5, are as follows: London Aylmer London Fair Value Revenues $ 910,153 $ 305,668 Expenses Net Income 664,512 210,001 $ 245,641 $ 95,667 Retained Earnings, 1/1/Y5 $ 801,257 $ 221,061 Net Income 245,641 95,667 Dividends paid 96,540 Retained Earnings, 12/31/Y5 $ 950,358 $ 316,728 Cash $ 39,825 $ 104,569 Receivables and Inventory 400,147 169,854 Patented Technology (net) 907,801 301,522 285,000 Equipment (net) 771,051 621,441 704,500 Total Assets $ 2,118,824 $1,197,386 Liabilities $ 623,466 $ 407,658 Common Shares 545,000 473,000 Retained Earnings 950,358 316,728 Total Liabilities & Equity $ 2,118,824 $1,197,386 On December 31, Year 5, after the above figures were prepared, Aylmer issued $375,000 in debt and 13,000 new shares to the owners of London for 75% of the outstanding shares of that company. Aylmer shares had a fair value of $36.50 per share. Aylmer paid $26,590 to a broker for arranging the transaction. In addition, Aylmer paid $41,668 in stock issuance costs. Required: 1. Using the fair value enterprise method, what are the consolidated balances for the year ended December 31, Year 5, for the following accounts? Cash Retained earnings, 1/1/Year 5 Equipment (d) Patented technology (e) Goodwill (f) Liabilities (g) Common shares (h) (a) (b) Non-controlling interests 2. Using the identifiable net assets method, what are the consolidated balances for the year ended December 31, Year 5, for the following accounts? Goodwill Non-controlling interests.

The condensed financial statements for Aylmer Inc and London Co for the year ended December 31, Year 5, are as follows: London Aylmer London Fair Value Revenues $ 910,153 $ 305,668 Expenses Net Income 664,512 210,001 $ 245,641 $ 95,667 Retained Earnings, 1/1/Y5 $ 801,257 $ 221,061 Net Income 245,641 95,667 Dividends paid 96,540 Retained Earnings, 12/31/Y5 $ 950,358 $ 316,728 Cash $ 39,825 $ 104,569 Receivables and Inventory 400,147 169,854 Patented Technology (net) 907,801 301,522 285,000 Equipment (net) 771,051 621,441 704,500 Total Assets $ 2,118,824 $1,197,386 Liabilities $ 623,466 $ 407,658 Common Shares 545,000 473,000 Retained Earnings 950,358 316,728 Total Liabilities & Equity $ 2,118,824 $1,197,386 On December 31, Year 5, after the above figures were prepared, Aylmer issued $375,000 in debt and 13,000 new shares to the owners of London for 75% of the outstanding shares of that company. Aylmer shares had a fair value of $36.50 per share. Aylmer paid $26,590 to a broker for arranging the transaction. In addition, Aylmer paid $41,668 in stock issuance costs. Required: 1. Using the fair value enterprise method, what are the consolidated balances for the year ended December 31, Year 5, for the following accounts? Cash Retained earnings, 1/1/Year 5 Equipment (d) Patented technology (e) Goodwill (f) Liabilities (g) Common shares (h) (a) (b) Non-controlling interests 2. Using the identifiable net assets method, what are the consolidated balances for the year ended December 31, Year 5, for the following accounts? Goodwill Non-controlling interests.

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 4PB
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can you show all calculations in excel or google sheets please, like an actual solution not just guidance.

The condensed financial statements for Aylmer Inc and London Co for the year ended December 31, Year 5, are as follows: London Aylmer London Fair Value Revenues $ 910,153 $ 305,668 Expenses Net Income 664,512 210,001 $ 245,641 $ 95,667 Retained Earnings, 1/1/Y5 $ 801,257 $ 221,061 Net Income 245,641 95,667 Dividends paid 96,540 Retained Earnings, 12/31/Y5 $ 950,358 $ 316,728 Cash $ 39,825 $ 104,569 Receivables and Inventory 400,147 169,854 Patented Technology (net) 907,801 301,522 285,000 Equipment (net) 771,051 621,441 704,500 Total Assets $ 2,118,824 $1,197,386 Liabilities $ 623,466 $ 407,658 Common Shares 545,000 473,000 Retained Earnings 950,358 316,728 Total Liabilities & Equity $ 2,118,824 $1,197,386 On December 31, Year 5, after the above figures were prepared, Aylmer issued $375,000 in debt and 13,000 new shares to the owners of London for 75% of the outstanding shares of that company. Aylmer shares had a fair value of $36.50 per share. Aylmer paid $26,590 to a broker for arranging the transaction. In addition, Aylmer paid $41,668 in stock issuance costs.
Transcribed Image Text:The condensed financial statements for Aylmer Inc and London Co for the year ended December 31, Year 5, are as follows: London Aylmer London Fair Value Revenues $ 910,153 $ 305,668 Expenses Net Income 664,512 210,001 $ 245,641 $ 95,667 Retained Earnings, 1/1/Y5 $ 801,257 $ 221,061 Net Income 245,641 95,667 Dividends paid 96,540 Retained Earnings, 12/31/Y5 $ 950,358 $ 316,728 Cash $ 39,825 $ 104,569 Receivables and Inventory 400,147 169,854 Patented Technology (net) 907,801 301,522 285,000 Equipment (net) 771,051 621,441 704,500 Total Assets $ 2,118,824 $1,197,386 Liabilities $ 623,466 $ 407,658 Common Shares 545,000 473,000 Retained Earnings 950,358 316,728 Total Liabilities & Equity $ 2,118,824 $1,197,386 On December 31, Year 5, after the above figures were prepared, Aylmer issued $375,000 in debt and 13,000 new shares to the owners of London for 75% of the outstanding shares of that company. Aylmer shares had a fair value of $36.50 per share. Aylmer paid $26,590 to a broker for arranging the transaction. In addition, Aylmer paid $41,668 in stock issuance costs.
Required: 1. Using the fair value enterprise method, what are the consolidated balances for the year ended December 31, Year 5, for the following accounts? Cash Retained earnings, 1/1/Year 5 Equipment (d) Patented technology (e) Goodwill (f) Liabilities (g) Common shares (h) (a) (b) Non-controlling interests 2. Using the identifiable net assets method, what are the consolidated balances for the year ended December 31, Year 5, for the following accounts? Goodwill Non-controlling interests.
Transcribed Image Text:Required: 1. Using the fair value enterprise method, what are the consolidated balances for the year ended December 31, Year 5, for the following accounts? Cash Retained earnings, 1/1/Year 5 Equipment (d) Patented technology (e) Goodwill (f) Liabilities (g) Common shares (h) (a) (b) Non-controlling interests 2. Using the identifiable net assets method, what are the consolidated balances for the year ended December 31, Year 5, for the following accounts? Goodwill Non-controlling interests.
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