LooseLeaf Intermediate Accounting w/ Annual Report; Connect Access Card
8th Edition
ISBN: 9781259542848
Author: J. David Spiceland
Publisher: McGraw-Hill Education
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Chapter 18, Problem 18.9E
To determine
Common stock: These are the ordinary shares that a corporation issues to the investors in order to raise funds. In return, the investors receive a share of profit from the profits earned by the corporation in the form of dividend.
Par value: It refers to the value of a stock that is stated by the corporation’s charter. It is also known as face value of a stock.
To prepare: The
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A parent company owns a 70% interest in a subsidiary whose stock has a valuation basis of $27 per share. On the last day of the year, the subsidiary issues new shares for $27 per share, and the parent buys its 70% interest in the new shares. Which of the following statements is true?
Multiple Choice
Since the sale was made at the end of the year, the parent’s investment account is not affected.
Since the shares were sold for the same per share amount as the adjusted subsidiary value per share, and the parent bought 70% of the shares, the parent’s investment account is not affected except for the total acquisition amount for the new shares.
Since the shares were sold for the same per share amount as the adjusted subsidiary value per share, the parent’s investment account must be decreased.
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Chapter 18 Solutions
LooseLeaf Intermediate Accounting w/ Annual Report; Connect Access Card
Ch. 18 - Identify and briefly describe the two primary...Ch. 18 - Prob. 18.2QCh. 18 - Prob. 18.3QCh. 18 - Prob. 18.4QCh. 18 - Prob. 18.5QCh. 18 - Prob. 18.6QCh. 18 - Prob. 18.7QCh. 18 - What is meant by a shareholders preemptive right?Ch. 18 - Terminology varies in the way companies...Ch. 18 - Most preferred shares are cumulative. Explain what...
Ch. 18 - The par value of shares historically indicated the...Ch. 18 - Prob. 18.12QCh. 18 - How do we report components of comprehensive...Ch. 18 - The balance sheet reports the balances of...Ch. 18 - At times, companies issue their shares for...Ch. 18 - Prob. 18.16QCh. 18 - The costs of legal, promotional, and accounting...Ch. 18 - When a corporation acquires its own shares, those...Ch. 18 - Discuss the conceptual basis for accounting for a...Ch. 18 - The prescribed accounting treatment for stock...Ch. 18 - Brandon Components declares a 2-for-1 stock split....Ch. 18 - What is a reverse stock split? What would be the...Ch. 18 - Suppose you own 80 shares of Facebook common stock...Ch. 18 - Prob. 18.24QCh. 18 - Comprehensive income LO181 Schaeffer Corporation...Ch. 18 - Stock issued LO184 Penne Pharmaceuticals sold 8...Ch. 18 - Prob. 18.3BECh. 18 - Prob. 18.4BECh. 18 - Prob. 18.5BECh. 18 - Prob. 18.6BECh. 18 - Retirement of shares LO185 Agee Storage issued 35...Ch. 18 - Treasury stock LO185 The Jennings Group...Ch. 18 - Prob. 18.9BECh. 18 - Prob. 18.10BECh. 18 - Prob. 18.11BECh. 18 - Property dividend LO187 Adams Moving and Storage,...Ch. 18 - Stock dividend LO188 On June 13, the board of...Ch. 18 - Prob. 18.14BECh. 18 - Stock split LO188 Refer to the situation...Ch. 18 - Prob. 18.16BECh. 18 - E 18–1
Comprehensive income
• LO18–2
An alternate...Ch. 18 - Prob. 18.2ECh. 18 - Prob. 18.3ECh. 18 - Stock issued for cash; Wright Medical Group LO184...Ch. 18 - Issuance of shares; noncash consideration LO184...Ch. 18 - Prob. 18.6ECh. 18 - Share issue costs; issuance LO184 ICOT Industries...Ch. 18 - Prob. 18.8ECh. 18 - Prob. 18.9ECh. 18 - Prob. 18.10ECh. 18 - Prob. 18.11ECh. 18 - Prob. 18.12ECh. 18 - Prob. 18.13ECh. 18 - Prob. 18.14ECh. 18 - Prob. 18.15ECh. 18 - Prob. 18.16ECh. 18 - Prob. 18.17ECh. 18 - Prob. 18.18ECh. 18 - Prob. 18.19ECh. 18 - Prob. 18.20ECh. 18 - Prob. 18.21ECh. 18 - Prob. 18.22ECh. 18 - Prob. 18.23ECh. 18 - Prob. 18.24ECh. 18 - Prob. 18.25ECh. 18 - Prob. 1CPACh. 18 - Prob. 2CPACh. 18 - Prob. 3CPACh. 18 - Prob. 4CPACh. 18 - Prob. 5CPACh. 18 - Prob. 6CPACh. 18 - Prob. 7CPACh. 18 - Prob. 8CPACh. 18 - Prob. 1CMACh. 18 - Prob. 2CMACh. 18 - Prob. 3CMACh. 18 - Various stock transactions; correction of journal...Ch. 18 - Prob. 18.2PCh. 18 - Prob. 18.3PCh. 18 - Prob. 18.4PCh. 18 - Prob. 18.5PCh. 18 - Prob. 18.6PCh. 18 - Prob. 18.7PCh. 18 - Prob. 18.8PCh. 18 - Prob. 18.9PCh. 18 - Prob. 18.10PCh. 18 - Stock dividends received on investments;...Ch. 18 - Prob. 18.12PCh. 18 - Prob. 18.13PCh. 18 - Prob. 18.1BYPCh. 18 - Prob. 18.2BYPCh. 18 - Prob. 18.4BYPCh. 18 - Judgment Case 185 Treasury stock; stock split;...Ch. 18 - Prob. 18.6BYPCh. 18 - Prob. 18.7BYPCh. 18 - Prob. 18.8BYP
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