Accounting Information Systems; Quickbooks 2015: A Complete Course (without Software); Access Card For Intuit Quickbooks 2015 (13th Edition)
13th Edition
ISBN: 9780134404080
Author: Marshall B. Romney, Paul J. Steinbart
Publisher: PEARSON
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Chapter 11, Problem 7P
To determine
Prepare an input control matrix and place checks in the cells that represent input control one might find for the specified fields.
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General Accounting question
Wilson Corporation acquires Greatbatch Company for $80 million cash in a merger. The balance sheets of both companies at the date of acquisition are as follows:
Balance Sheet
(in millions)
Wilson Greatbatch
Current assets $96 $8
Property and equipment 800 144
Intangibles 32 4.8
Total assets $928 $156.8
Current liabilities $40 $3.2
Long-term debt 640 104
Capital stock 80 19.2
Retained earnings 192 24
Accumulated other comprehensive income (loss) (24) 6.4
Total liabilities and equity $928 $156.8
Greatbatch's property and equipment is overvalued by $48 million, its reported intangibles are undervalued by $32 million, and it has unreported intangibles, in the form of customer databases and marketing agreements, valued at $11.2 million.
Required
Prepare Wilson's balance sheet immediately following the merger.
Use a negative sign with your answer for AOCI if the balance is a loss.
Not use ai solution given correct answer
Chapter 11 Solutions
Accounting Information Systems; Quickbooks 2015: A Complete Course (without Software); Access Card For Intuit Quickbooks 2015 (13th Edition)
Ch. 11 - Prob. 1CQCh. 11 - Prob. 2CQCh. 11 - Prob. 3CQCh. 11 - Prob. 4CQCh. 11 - Prob. 5CQCh. 11 - Prob. 6CQCh. 11 - Prob. 7CQCh. 11 - Prob. 8CQCh. 11 - Prob. 9CQCh. 11 - Prob. 10CQ
Ch. 11 - Prob. 1DQCh. 11 - Prob. 2DQCh. 11 - Prob. 3DQCh. 11 - The assistant finance director for the city of...Ch. 11 - Prob. 5DQCh. 11 - Prob. 6DQCh. 11 - Prob. 7DQCh. 11 - Prob. 1PCh. 11 - Prob. 2PCh. 11 - Prob. 3PCh. 11 - Prob. 4PCh. 11 - Prob. 5PCh. 11 - Prob. 6PCh. 11 - Prob. 7PCh. 11 - Prob. 8PCh. 11 - Prob. 9PCh. 11 - Prob. 10PCh. 11 - Prob. 11PCh. 11 - Prob. 12PCh. 11 - Prob. 1C
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