Business, 05.07.2020 14:01 wallsdeandre6927
On January 1, 20X9, Pirate Corporation acquired 80 percent of Sea-Gull Company's common stock for $160,000 cash. The fair value of the noncontrolling interest at that date was determined to be $40,000. Data from the balance sheets of the two companies included the following amounts as of the date of acquisition: Gulliver Corp. Sea-Gull Corp. Cash $60,000 $20,000Accounts Receivable 80,000 30,000Inventory 90,000 40,000Land 100,000 40,000Buildings and Equipment 200,000 150,000Less: Accumulated Depreciation (80,000) (50,000)Investment in Sea-Gull Corp. 160,000 Total Assets $610,000 $230,000Accounts Payable $110,000 $30,000Bonds Payable 95,000 40,000Common Stock 200,000 40,000Retained Earnings 205,000 120,000Total Liabilities and Equity $610,000 $230,000At the date of the business combination, the book values of Sea-Gull's net assets and liabilities approximated fair value except for inventory, which had a fair value of $45,000, and land, which had a fair value of $60,000.a. Based on the preceding information, what amount of total inventory will be reported in the consolidated balance sheet prepared immediately after the business combination?A. $130,000B. $135,000C. $90,000D. $45,000b. Based on the preceding information, what amount of goodwill will be reported in the consolidated balance sheet prepared immediately after the business combination?A. $0B. $40,000C. $20,000D. $15,000c. Based on the preceding information, what amount of total assets will be reported in the consolidated balance sheet prepared immediately after the business combination?A. $720,000B. $840,000C. $825,000D. $865,000d. Based on the preceding information, what amount of total liabilities will be reported in the consolidated balance sheet prepared immediately after the business combination?A. $395,000B. $280,000C. $275,000D. $195,000e. Based on the preceding information, what amount will be reported as noncontrolling interest in the consolidated balance sheet prepared immediately after the business combination?A. $0B. $15,000C. $40,000D. $46,000f. Based on the preceding information, what amount of consolidated retained earnings will be reported immediately after the business combination?A. $205,000B. $120,000C. $325,000D. $310,000g. Based on the preceding information, what amount will be reported as total stockholders' equity in the consolidated balance sheet prepared immediately after the business combination?A. $445,000B. $205,000C. $565,000D. $550,000
Answers: 3
Other questions on the subject: Business
Business, 22.06.2019 05:10, Kaitneedshelps
1. descriptive statistics quickly describe large amounts of data can predict future stock returns with surprising accuracy statisticians understand non-numeric information, like colors refer mainly to patterns that can be found in data 2. a 15% return on a stock means that 15% of the original purchase price of the stock returns to the seller at the end of the year 15% of the people who purchased the stock will see a return the stock is worth 15% more at the end of the year than at the beginning the stock has lost 15% of its value since it was originally sold 3. a stock purchased on january 1 cost $4.35 per share. the same stock, sold on december 31 of the same year, brought in $4.75 per share. what was the approximate return on this stock? 0.09% 109% 1.09% 9% 4. a stock sells for $6.99 on december 31, providing the seller with a 6% annual return. what was the price of the stock at the beginning of the year? $6.59 $1.16 $7.42 $5.84
Answers: 3
Business, 22.06.2019 10:30, gonzalesalexiaouv1bg
The advertisement demonstrates a popular way companies try to sell a product. what should consumers consider when it comes to the price of this product? it includes shipping and handling costs. it takes into account maintenance costs. it explains why this price is a good deal. it makes the full cost appears lower than it is.
Answers: 1
Business, 22.06.2019 19:30, darkremnant14
Problem page a medical equipment industry manufactures x-ray machines. the unit cost c (the cost in dollars to make each x-ray machine) depends on the number of machines made. if x machines are made, then the unit cost is given by the function =cx+−0.3x2126x31,935 . how many machines must be made to minimize the unit cost?
Answers: 3
Business, 22.06.2019 20:30, bbby2
1. what is the lowest balance during this period? 2. lily just received her bank statement below. a. what does the bank think her ending balance is? b. how much more does the bank think lily has? c. what transactions are missing? 3. what is the danger of not balancing your bank account? lily’s bank statement deposits: 2/25 $35 2/26 $20 3/1 $256.32 checks: 2/24 ck #301 $25 2/26 #302 $150 debit card: 2/24 american eagle $75.48 2/25 chick fa la $4.67 2/27 mcdonalds $3.56 2/28 chevron $34.76 withdrawal: 2/27 $40 beginning balance $423.34 deposits $311.32 total debits $333.47 ending balance $401.19
Answers: 1
You know the right answer?
On January 1, 20X9, Pirate Corporation acquired 80 percent of Sea-Gull Company's common stock for $1...
Questions in other subjects:
Biology, 08.03.2020 23:05
Health, 08.03.2020 23:06
Mathematics, 08.03.2020 23:06
Mathematics, 08.03.2020 23:07
Mathematics, 08.03.2020 23:07
