Interm.acct.:reporting.(ll)-w/access
3rd Edition
ISBN: 9780357251775
Author: Unknown
Publisher: CENGAGE L
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Chapter 16, Problem 12GI
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Consolidation after Several Years
On January 1, 2016, Adams Corporation acquired all of the stock of Baker Company. The fair value of Adams’ shares used in the exchange was $37,500,000. At the time of acquisition, the book value of Baker’s shareholders’ equity was $5,000,000, and the book value of Baker’s building (25-year life) exceeded its fair value by $1,000,000. From the date of acquisition to December 31, 2021, Baker had cumulative net income of $1,300,000. For 2022, Baker reported net income of $300,000. Adams uses the complete equity method to account for its investment in Baker. There is no goodwill impairment loss for the period 2016 through 2021, but there is impairment loss of $100,000 in 2022. Baker declared no dividends during the period 2016–2022.
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Prepare the working paper eliminating entries necessary to consolidate the financial statements of Adams and Baker at December 31, 2022.
Enter numerical answers using all zeros (do not abbreviate in thousands or in…
Give me the answer in a clear organized table please. Thank you!
Chapter 16 Solutions
Interm.acct.:reporting.(ll)-w/access
Ch. 16 - What are the four important dates in regard to a...Ch. 16 - How does the ex-dividend date differ from the date...Ch. 16 - Prob. 3GICh. 16 - Prob. 4GICh. 16 - Prob. 5GICh. 16 - Prob. 6GICh. 16 - How does the accounting for a liquidating dividend...Ch. 16 - Prob. 8GICh. 16 - Prob. 9GICh. 16 - Prob. 10GI
Ch. 16 - What items might a corporation include in the...Ch. 16 - Prob. 12GICh. 16 - Prob. 13GICh. 16 - Prob. 14GICh. 16 - Prob. 15GICh. 16 - On what date are stock dividends and splits...Ch. 16 - Prob. 17GICh. 16 - What two earnings per share figures generally are...Ch. 16 - Prob. 19GICh. 16 - Prob. 20GICh. 16 - Prob. 21GICh. 16 - A company with potentially dilutive share options...Ch. 16 - Prob. 23GICh. 16 - Cash dividends on the 10 par value common stock of...Ch. 16 - A prior period adjustment should be reflected, net...Ch. 16 - Prince Corporations accounts provided the...Ch. 16 - Effective May 1, the shareholders of Baltimore...Ch. 16 - Kent Corporation was organized on January 1, 2014....Ch. 16 - For purposes of computing the weighted average...Ch. 16 - In determining basic earnings per share, dividends...Ch. 16 - Hyde Corporations capital structure at December...Ch. 16 - Iredell Company has 2,500,000 shares of common...Ch. 16 - Prob. 10MCCh. 16 - Prob. 1RECh. 16 - Prob. 2RECh. 16 - Prob. 3RECh. 16 - Use the same facts as in RE 16-3, but instead...Ch. 16 - Given the following current year information,...Ch. 16 - In Year 2, Adams Corporation discovered that it...Ch. 16 - Howard Corporal ion had 10,000 shares of common...Ch. 16 - Given the following year-end information for...Ch. 16 - Aiken Corporation has compensatory share options...Ch. 16 - Marlboro Corporation has 9% convertible preferred...Ch. 16 - Sarasota Corporation has 9% convertible bonds...Ch. 16 - Given the following year-end information, compute...Ch. 16 - Various Dividends Carlyon Company listed the...Ch. 16 - Dividends Andrews Company has 80,000 available to...Ch. 16 - Prob. 3ECh. 16 - Prob. 4ECh. 16 - Stock Dividend Comparison Although Oriole Company...Ch. 16 - Prior Period Adjustments Scobie Company began 2019...Ch. 16 - Prob. 7ECh. 16 - Prob. 8ECh. 16 - Prob. 9ECh. 16 - Shareholders Equity Herrera Manufacturing...Ch. 16 - Prob. 11ECh. 16 - Weighted Average Shares At the beginning of 2019,...Ch. 16 - Weighted Average Shares At the beginning of the...Ch. 16 - Earnings per Share The 2018 balance sheet for...Ch. 16 - Prob. 15ECh. 16 - Jumbo Corporation reported the following...Ch. 16 - Lucas Company reports net income of 5,125 for the...Ch. 16 - Monona Company reported net income of 29,975 for...Ch. 16 - Lyon Company shows the following condensed income...Ch. 16 - Extreme Company reported the following information...Ch. 16 - Mills Company had five convertible securities...Ch. 16 - Prob. 22ECh. 16 - Prob. 23ECh. 16 - Prob. 24ECh. 16 - Prob. 25ECh. 16 - Tama Companys capital structure consists of common...Ch. 16 - Percy Company has 15,000 shares of common stock...Ch. 16 - Prob. 28ECh. 16 - Keener Company has had 1,000 shares of 7%, 100 par...Ch. 16 - Otter Tail, Inc., began operations in January 2015...Ch. 16 - On January 1, 2019, Kittson Company had a retained...Ch. 16 - Prob. 4PCh. 16 - Alert Companys shareholders equity prior to any of...Ch. 16 - Prob. 6PCh. 16 - Oakwood Inc. is a public enterprise whose shares...Ch. 16 - Prob. 8PCh. 16 - Prob. 9PCh. 16 - Prob. 10PCh. 16 - Raun Company had the following equity items as of...Ch. 16 - Prob. 12PCh. 16 - Prob. 13PCh. 16 - Gray Company lists the following shareholders...Ch. 16 - Included in the December 31, 2018, Jacobi Company...Ch. 16 - Prob. 16PCh. 16 - Graham Railways Inc. is evaluating its operations...Ch. 16 - Prob. 18PCh. 16 - Anoka Company reported the following selected...Ch. 16 - Winona Company began 2019 with 10,000 shares of 10...Ch. 16 - Waseca Company had 5 convertible securities...Ch. 16 - Roseau Company is preparing its annual earnings...Ch. 16 - Prob. 23PCh. 16 - Frost Company has accumulated the following...Ch. 16 - The controller of Red Lake Corporation has...Ch. 16 - Prob. 26PCh. 16 - Problems may be encountered in accounting for...Ch. 16 - Stock splits and stock dividends may be used by a...Ch. 16 - Earnings per share (EPS) is the most featured...Ch. 16 - The earnings per share data required of a company...Ch. 16 - Prob. 5CCh. 16 - Public enterprises are required to present...Ch. 16 - Prob. 7CCh. 16 - Ryan Company has as a goal that its earnings per...
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