Provide entry to record the acquisition of the shares of Company W.

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Answer 1

Question

Chapter 3, Problem 34P

a.

To determine

Provide entry to record the acquisition of the shares of Company W.

b.

To determine

Provide entries at the end of 2017 and 2018 to adjust its contingent performance obligation for changes in fair value and the December 31, 2018, payment.

c.

To determine

Provide consolidation worksheet entries as of December 31, 2018, assuming that B has applied the equity method.

d.

To determine

Provide consolidation worksheet entries as of December 31, 2018, assuming that B has applied the initial value method.

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If 150 million shares of common stock are issued with a par value of $3 and additional paid-in capital is $900 million, the total par value of the issued shares is:

Answer 2

Question

Chapter 3, Problem 34P

a.

To determine

Provide entry to record the acquisition of the shares of Company W.

b.

To determine

Provide entries at the end of 2017 and 2018 to adjust its contingent performance obligation for changes in fair value and the December 31, 2018, payment.

c.

To determine

Provide consolidation worksheet entries as of December 31, 2018, assuming that B has applied the equity method.

d.

To determine

Provide consolidation worksheet entries as of December 31, 2018, assuming that B has applied the initial value method.

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Answer 3

Question

Chapter 3, Problem 34P

a.

To determine

Provide entry to record the acquisition of the shares of Company W.

b.

To determine

Provide entries at the end of 2017 and 2018 to adjust its contingent performance obligation for changes in fair value and the December 31, 2018, payment.

c.

To determine

Provide consolidation worksheet entries as of December 31, 2018, assuming that B has applied the equity method.

d.

To determine

Provide consolidation worksheet entries as of December 31, 2018, assuming that B has applied the initial value method.

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Answer 4

Question

Chapter 3, Problem 34P

a.

To determine

Provide entry to record the acquisition of the shares of Company W.

b.

To determine

Provide entries at the end of 2017 and 2018 to adjust its contingent performance obligation for changes in fair value and the December 31, 2018, payment.

c.

To determine

Provide consolidation worksheet entries as of December 31, 2018, assuming that B has applied the equity method.

d.

To determine

Provide consolidation worksheet entries as of December 31, 2018, assuming that B has applied the initial value method.

Expert Solution & Answer

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Answer 5

Chapter 3, Problem 34P

a.

To determine

Provide entry to record the acquisition of the shares of Company W.

b.

To determine

Provide entries at the end of 2017 and 2018 to adjust its contingent performance obligation for changes in fair value and the December 31, 2018, payment.

c.

To determine

Provide consolidation worksheet entries as of December 31, 2018, assuming that B has applied the equity method.

d.

To determine

Provide consolidation worksheet entries as of December 31, 2018, assuming that B has applied the initial value method.

Answer 6

Chapter 3, Problem 34P

a.

To determine

Provide entry to record the acquisition of the shares of Company W.

Answer 7

Chapter 3, Problem 34P

a.

To determine

Provide entry to record the acquisition of the shares of Company W.

Answer 8

b.

To determine

Provide entries at the end of 2017 and 2018 to adjust its contingent performance obligation for changes in fair value and the December 31, 2018, payment.

Answer 9

b.

To determine

Provide entries at the end of 2017 and 2018 to adjust its contingent performance obligation for changes in fair value and the December 31, 2018, payment.

Answer 10

c.

To determine

Provide consolidation worksheet entries as of December 31, 2018, assuming that B has applied the equity method.

Answer 11

c.

To determine

Provide consolidation worksheet entries as of December 31, 2018, assuming that B has applied the equity method.

Answer 12

d.

To determine

Provide consolidation worksheet entries as of December 31, 2018, assuming that B has applied the initial value method.

Answer 13

d.

To determine

Provide consolidation worksheet entries as of December 31, 2018, assuming that B has applied the initial value method.

Answer 14

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Answer 15

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Answer 16

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Answer 17

Ch. 3 - Prob. 1Q Ch. 3 - Prob. 2Q Ch. 3 - Prob. 3Q Ch. 3 - Prob. 4Q Ch. 3 - Prob. 5Q Ch. 3 - Prob. 6Q Ch. 3 - 7. Benns adopts the equity method for its 100...Ch. 3 - Prob. 8Q Ch. 3 - Prob. 9Q Ch. 3 - 10. Reimers Company acquires Rollins Corporation...

Provide entry to record the acquisition of the shares of Company W.

Provide entry to record the acquisition of the shares of Company W.

Provide entries at the end of 2017 and 2018 to adjust its contingent performance obligation for changes in fair value and the December 31, 2018, payment.

Provide consolidation worksheet entries as of December 31, 2018, assuming that B has applied the equity method.

Provide consolidation worksheet entries as of December 31, 2018, assuming that B has applied the initial value method.

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Chapter 3 Solutions