Soft Bound Version for Advanced Accounting 13th Edition
13th Edition
ISBN: 9781260110579
Author: Hoyle
Publisher: McGraw Hill Education
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Chapter 6, Problem 17P
On January 1, Coldwater Company has a net book value of $2,174,000 as follows:
| 2,000 |
$ 200,000 |
| 34,500 shares of common stock; par value $40 per share | 1,380,000 |
| 594,000 | |
| Total | $2,174,000 |
Westmont Company acquires all outstanding preferred shares for $214,000 and 60 percent of the common stock for $1,253,280. The acquisition-date fair value of the noncontrolling interest in Coldwater’s common stock was $835,520. Westmont believed that one of Coldwater’s buildings, with a 12-year remaining life, was undervalued by $63,600 on the company’s financial records.
What amount of consolidated
- a. $61,600
- b. $65,200
- c. $60,400
- d. $59,200
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On January 1, Coldwater Company has a net book value of $1,780,000 as follows:
2,500 shares of preferred stock; par value $100 per share; cumulative, nonparticipating, nonvoting; call value $108 per share
$
250,000
24,500 shares of common stock; par value $40 per share
980,000
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$
1,780,000
Westmont Company acquires all outstanding preferred shares for $268,800 and 60 percent of the common stock for $972,240. The acquisition-date fair value of the noncontrolling interest in Coldwater’s common stock was $648,160. Westmont believed that one of Coldwater’s buildings, with a 12-year remaining life, was undervalued by $52,200 on the company’s financial records.
What amount of consolidated goodwill would be recognized from this acquisition?
On January 1, 2018, Bast Co. had a net book value of $2,100,000 as follows:
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$
140,000
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1,120,000
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Fisher Co. acquired all of the outstanding preferred shares for $148,000 and 60% of the common stock for $1,281,000. Fisher believed that one of Bast's buildings, with a twelve-year life, was undervalued on the company's financial records by $70,000.
Required:What is the amount of goodwill to be recognized from this purchase?
On January 1, 2020, Leilanie Company reported the following shareholders' equity:
Share capital
1,500,000
Share premium
3,000,000
Retained earnings 5,000,000
The entity had 400,000 authorised shares of P5 par value, of which 300,000 shares were issued and outstanding.
On March 1, the entity acquired 50,000 shares for P10 per share to be held as treasury.
On July 1, the entity declared a property dividend of inventory payable on July 31. The inventory had a P1,200,000 carrying amount anda fair value of P1,500,000 on July 1
The net income for 2020 was P3,000,000.
How much is the appropriated retained earnings?
Select the correct response
O500,000
O 400.000
O 250,000
O 450,000
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Chapter 6 Solutions
Soft Bound Version for Advanced Accounting 13th Edition
Ch. 6 - Prob. 1QCh. 6 - Prob. 2QCh. 6 - When is a firm required to consolidate the...Ch. 6 - Prob. 4QCh. 6 - Prob. 5QCh. 6 - Prob. 6QCh. 6 - Prob. 7QCh. 6 - Prob. 8QCh. 6 - Prob. 9QCh. 6 - Prob. 10Q
Ch. 6 - Prob. 11QCh. 6 - How do noncontrolling interest balances affect the...Ch. 6 - Prob. 13QCh. 6 - Prob. 14QCh. 6 - Prob. 15QCh. 6 - Prob. 16QCh. 6 - Prob. 17QCh. 6 - Prob. 1PCh. 6 - Prob. 2PCh. 6 - Prob. 3PCh. 6 - Prob. 4PCh. 6 - Prob. 5PCh. 6 - Prob. 6PCh. 6 - Problems 7 and 8 are based on the following...Ch. 6 - Prob. 8PCh. 6 - Bens man Corporation is computing EPS. One of its...Ch. 6 - Prob. 10PCh. 6 - Prob. 11PCh. 6 - Prob. 12PCh. 6 - Prob. 13PCh. 6 - Prob. 14PCh. 6 - Prob. 15PCh. 6 - Prob. 16PCh. 6 - On January 1, Coldwater Company has a net book...Ch. 6 - Prob. 18PCh. 6 - Prob. 19PCh. 6 - Prob. 20PCh. 6 - On January 1, 2018, Stamford issues 10,000...Ch. 6 - On January 1, 2018, Stamford reacquires 8,000 of...Ch. 6 - Prob. 23PCh. 6 - Prob. 24PCh. 6 - On December 31, 2017. PanTech Company invests...Ch. 6 - Prob. 26PCh. 6 - Prob. 27PCh. 6 - Prob. 28PCh. 6 - Prob. 29PCh. 6 - Prob. 30PCh. 6 - Prob. 31PCh. 6 - Prob. 32PCh. 6 - Prob. 33PCh. 6 - Prob. 34PCh. 6 - Prob. 35PCh. 6 - Alford Company and its 80 percentowned subsidiary,...Ch. 6 - Prob. 37PCh. 6 - Prob. 38PCh. 6 - Prob. 39PCh. 6 - Prob. 40PCh. 6 - Prob. 41PCh. 6 - Prob. 42PCh. 6 - Prob. 43PCh. 6 - Prob. 44PCh. 6 - Fred, Inc., and Herman Corporation formed a...Ch. 6 - Prob. 46PCh. 6 - Prob. 47PCh. 6 - Prob. 48PCh. 6 - Prob. 49PCh. 6 - Prob. 50PCh. 6 - Prob. 1DYSCh. 6 - Prob. 2DYSCh. 6 - The FASB ASC Subtopic Variable Interest Entities...
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