Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

On its acquisition-date consolidated balance sheet, what amount should trudata report as goodwill?

14/11/2020 Client: arwaabdullah Deadline: 24 Hours

Ex1

Required information

Use the following information to answer questions 15-18

[The following information applies to the questions displayed below.]

On July 1, TruData Company issues 10,000 shares of its common stock with a $5 par value and a $50 fair value in exchange for all of Webstat Company’s outstanding voting shares. Webstat’s precombination book and fair values are shown below along with book values for TruData’s accounts.

TruData

Webstat

Webstat

Book Values

Book Values

Fair Values

Revenues (1/1 to 7/1)

$

(288,200

)

$

(172,000

)

Expenses (1/1 to 7/1)

192,000

86,000

Retained earnings, 1/1

(134,000

)

(140,000

)

Cash and receivables

168,000

76,000

$

76,000

Inventory

186,000

148,000

170,000

Patented technology (net)

228,000

178,000

202,000

Land

382,000

198,000

238,000

Buildings and equipment (net)

102,000

90,000

90,000

Liabilities

(532,000

)

(370,000

)

(346,000

)

Common stock

(294,000

)

(62,000

)

Additional paid-in capital

(9,800

)

(32,000

)

rev: 05_10_2017_QC_CS-88998, 05_18_2017_QC_CS-89463

Problem 2-15 (LO 2-5, 2-9, 2-10)

On its acquisition-date consolidated balance sheet, what amount should TruData report as goodwill?

Multiple Choice

Top of Form

·

$0.

·

$344,000.

·

$70,000.

·

$180,000.

Bottom of Form

Ex2

Required information

Use the following information to answer questions 15-18

[The following information applies to the questions displayed below.]

On July 1, TruData Company issues 10,000 shares of its common stock with a $5 par value and a $50 fair value in exchange for all of Webstat Company’s outstanding voting shares. Webstat’s precombination book and fair values are shown below along with book values for TruData’s accounts.

TruData

Webstat

Webstat

Book Values

Book Values

Fair Values

Revenues (1/1 to 7/1)

$

(288,200

)

$

(172,000

)

Expenses (1/1 to 7/1)

192,000

86,000

Retained earnings, 1/1

(134,000

)

(140,000

)

Cash and receivables

168,000

76,000

$

76,000

Inventory

186,000

148,000

170,000

Patented technology (net)

228,000

178,000

202,000

Land

382,000

198,000

238,000

Buildings and equipment (net)

102,000

90,000

90,000

Liabilities

(532,000

)

(370,000

)

(346,000

)

Common stock

(294,000

)

(62,000

)

Additional paid-in capital

(9,800

)

(32,000

)

rev: 05_10_2017_QC_CS-88998, 05_18_2017_QC_CS-89463

Problem 2-16 (LO 2-5)

On its acquisition-date consolidated balance sheet, what amount should TruData report as patented technology (net)?

Multiple Choice

Top of Form

·

$430,000.

·

$202,000.

·

$228,000.

·

· $418,000.

·

Bottom of Form

Ex3

Required information

Use the following information to answer questions 15-18

[The following information applies to the questions displayed below.]

On July 1, TruData Company issues 10,000 shares of its common stock with a $5 par value and a $50 fair value in exchange for all of Webstat Company’s outstanding voting shares. Webstat’s precombination book and fair values are shown below along with book values for TruData’s accounts.

TruData

Webstat

Webstat

Book Values

Book Values

Fair Values

Revenues (1/1 to 7/1)

$

(288,200

)

$

(172,000

)

Expenses (1/1 to 7/1)

192,000

86,000

Retained earnings, 1/1

(134,000

)

(140,000

)

Cash and receivables

168,000

76,000

$

76,000

Inventory

186,000

148,000

170,000

Patented technology (net)

228,000

178,000

202,000

Land

382,000

198,000

238,000

Buildings and equipment (net)

102,000

90,000

90,000

Liabilities

(532,000

)

(370,000

)

(346,000

)

Common stock

(294,000

)

(62,000

)

Additional paid-in capital

(9,800

)

(32,000

)

rev: 05_10_2017_QC_CS-88998, 05_18_2017_QC_CS-89463

Problem 2-17 (LO 2-5, 2-7)

On its acquisition-date consolidated balance sheet, what amount should TruData report as common stock?

Multiple Choice

Top of Form

·

$294,000.

·

$62,000.

·

$344,000.

·

$356,000.

Bottom of Form

Ex4

Required information

Use the following information to answer questions 15-18

[The following information applies to the questions displayed below.]

On July 1, TruData Company issues 10,000 shares of its common stock with a $5 par value and a $50 fair value in exchange for all of Webstat Company’s outstanding voting shares. Webstat’s precombination book and fair values are shown below along with book values for TruData’s accounts.

TruData

Webstat

Webstat

Book Values

Book Values

Fair Values

Revenues (1/1 to 7/1)

$

(288,200

)

$

(172,000

)

Expenses (1/1 to 7/1)

192,000

86,000

Retained earnings, 1/1

(134,000

)

(140,000

)

Cash and receivables

168,000

76,000

$

76,000

Inventory

186,000

148,000

170,000

Patented technology (net)

228,000

178,000

202,000

Land

382,000

198,000

238,000

Buildings and equipment (net)

102,000

90,000

90,000

Liabilities

(532,000

)

(370,000

)

(346,000

)

Common stock

(294,000

)

(62,000

)

Additional paid-in capital

(9,800

)

(32,000

)

rev: 05_10_2017_QC_CS-88998, 05_18_2017_QC_CS-89463

Problem 2-18 (LO 2-5, 2-7)

On its acquisition-date consolidated balance sheet, what amount should TruData report as retained earnings as of July 1?

Multiple Choice

Top of Form

·

$298,000.

·

$230,200.

·

$586,200.

·

$134,000.

Bottom of Form

Ex5

Problem 2-22 (LO 2-6a, 2-6b)
The following book and fair values were available for Westmont Company as of March 1.

Book Value

Fair Value

Inventory

$

609,250

$

572,250

Land

755,250

1,050,000

Buildings

1,800,000

2,152,500

Customer relationships

0

849,750

Accounts payable

(91,000

)

(91,000

)

Common stock

(2,000,000

)

Additional paid-in capital

(500,000

)

Retained earnings 1/1

(416,500

)

Revenues

(481,500

)

Expenses

324,500

Arturo Company pays $4,150,000 cash and issues 20,900 shares of its $2 par value common stock (fair value of $50 per share) for all of Westmont’s common stock in a merger, after which Westmont will cease to exist as a separate entity. Stock issue costs amount to $28,600 and Arturo pays $44,600 for legal fees to complete the transaction.

Prepare Arturo’s journal entry to record its acquisition of Westmont. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Ex6

Required information

Use the following information to answer questions 19-20

[The following information applies to the questions displayed below.]

The separate condensed balance sheets of Patrick Corporation and its wholly owned subsidiary, Sean Corporation, are as follows:

BALANCE SHEETS

December 31, 2017

Patrick

Sean

Cash

$

74,000

$

52,000

Accounts receivable (net)

130,000

40,000

Inventories

86,000

72,000

Plant and equipment (net)

622,000

278,000

Investment in Sean

468,000

-

Total assets

$

1,380,000

$

442,000

Accounts payable

156,000

84,000

Long-term debt

116,000

20,000

Common stock ($10 par)

308,000

44,000

Additional paid-in capital

10,000

Retained earnings

800,000

284,000

Total liabilities and shareholders' equity

$

1,380,000

$

442,000

Additional Information:

· On December 31, 2017, Patrick acquired 100 percent of Sean’s voting stock in exchange for $468,000.

· At the acquisition date, the fair values of Sean’s assets and liabilities equaled their carrying amounts, respectively, except that the fair value of certain items in Sean’s inventory were $22,000 more than their carrying amounts.

Problem 2-19 (LO 2-4, 2-5)

In the December 31, 2017, consolidated balance sheet of Patrick and its subsidiary, what amount of total assets should be reported?-88999

Top of Form

·

$1,380,000

·

$1,360,000

·

$1,952,000

·

$1,484,000

Ex7

Required information

Use the following information to answer questions 19-20

[The following information applies to the questions displayed below.]

The separate condensed balance sheets of Patrick Corporation and its wholly owned subsidiary, Sean Corporation, are as follows:

BALANCE SHEETS

December 31, 2017

Patrick

Sean

Cash

$

74,000

$

52,000

Accounts receivable (net)

130,000

40,000

Inventories

86,000

72,000

Plant and equipment (net)

622,000

278,000

Investment in Sean

468,000

-

Total assets

$

1,380,000

$

442,000

Accounts payable

156,000

84,000

Long-term debt

116,000

20,000

Common stock ($10 par)

308,000

44,000

Additional paid-in capital

10,000

Retained earnings

800,000

284,000

Total liabilities and shareholders' equity

$

1,380,000

$

442,000

Additional Information:

· On December 31, 2017, Patrick acquired 100 percent of Sean’s voting stock in exchange for $468,000.

· At the acquisition date, the fair values of Sean’s assets and liabilities equaled their carrying amounts, respectively, except that the fair value of certain items in Sean’s inventory were $22,000 more than their carrying amounts.

Problem 2-20 (LO 2-4, 2-5)

In the December 31, 2017, consolidated balance sheet of Patrick and its subsidiary, what amount of total stockholders’ equity should be reported?

Multiple Choice

Top of Form

·

$1,130,000

·

$1,108,000

·

$1,086,000

·

$1,346,000

Bottom of Form

Bottom of Form

Ex8

Problem 2-11 (LO 2-5)

On June 1, Cline Co. paid $966,500 cash for all of the issued and outstanding common stock of Renn Corp. The carrying amounts for Renn’s assets and liabilities on June 1 follow:

Cash

$

151,000

Accounts receivable

205,500

Capitalized software costs

332,000

Goodwill

189,000

Liabilities

(135,000

)

Net assets

$

742,500

On June 1, Renn’s accounts receivable had a fair value of $145,000. Additionally, Renn’s in-process research and development was estimated to have a fair value of $252,000. All other items were stated at their fair values. On Cline’s June 1 consolidated balance sheet, how much is reported for goodwill?

Multiple Choice

Top of Form

·

$332,000.

·

$161,000.

·

$28,000.

·

$221,500

Bottom of Form

Ex9

Required information

Use the following information to answer questions 12-13

[The following information applies to the questions displayed below.]

On May 1, Donovan Company reported the following account balances:

Current assets

$

114,500

Buildings & equipment (net)

223,000

Total assets

$

337,500

Liabilities

$

64,500

Common stock

150,000

Retained earnings

123,000

Total liabilities and equities

$

337,500

On May 1, Beasley paid $451,800 in stock (fair value) for all of the assets and liabilities of Donovan, which will cease to exist as a separate entity. In connection with the merger, Beasley incurred $17,000 in accounts payable for legal and accounting fees.

Beasley also agreed to pay $82,900 to the former owners of Donovan contingent on meeting certain revenue goals during the following year. Beasley estimated the present value of its probability adjusted expected payment for the contingency at $21,100. In determining its offer, Beasley noted the following:

· Donovan holds a building with a fair value $38,600 more than its book value.

· Donovan has developed unpatented technology appraised at $27,700, although is it not recorded in its financial records.

· Donovan has a research and development activity in process with an appraised fair value of $49,200. The project has not yet reached technological feasibility.

· Book values for Donovan’s current assets and liabilities approximate fair values.

Problem 2-12 (LO 2-4, 2-5)

12. What should Beasley record as total liabilities incurred or assumed in connection with the Donovan merger?

Multiple Choice

Top of Form

·

$81,500.

·

$102,600.

·

$150,000.

·

$17,000.

Bottom of Form

Ex10

Required information

Use the following information to answer questions 12-13

[The following information applies to the questions displayed below.]

On May 1, Donovan Company reported the following account balances:

Current assets

$

114,500

Buildings & equipment (net)

223,000

Total assets

$

337,500

Liabilities

$

64,500

Common stock

150,000

Retained earnings

123,000

Total liabilities and equities

$

337,500

On May 1, Beasley paid $451,800 in stock (fair value) for all of the assets and liabilities of Donovan, which will cease to exist as a separate entity. In connection with the merger, Beasley incurred $17,000 in accounts payable for legal and accounting fees.

Beasley also agreed to pay $82,900 to the former owners of Donovan contingent on meeting certain revenue goals during the following year. Beasley estimated the present value of its probability adjusted expected payment for the contingency at $21,100. In determining its offer, Beasley noted the following:

· Donovan holds a building with a fair value $38,600 more than its book value.

· Donovan has developed unpatented technology appraised at $27,700, although is it not recorded in its financial records.

· Donovan has a research and development activity in process with an appraised fair value of $49,200. The project has not yet reached technological feasibility.

· Book values for Donovan’s current assets and liabilities approximate fair values.

Problem 2-13 (LO 2-5, 2-8)

13. How much should Beasley record as total assets acquired in the Donovan merger?

Multiple Choice

Top of Form

·

$472,900.

·

$537,400.

·

$451,800.

·

$517,600.

Bottom of Form

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

Finance Homework Help
Custom Coursework Service
Writer Writer Name Offer Chat
Finance Homework Help

ONLINE

Finance Homework Help

I have a Master’s degree and experience of more than 5 years in this industry, I have worked on several similar projects of Research writing, Academic writing & Business writing and can deliver A+ quality writing even to Short Deadlines. I have successfully completed more than 2100+ projects on different websites for respective clients. I can generally write 10-15 pages daily. I am interested to hear more about the project and about the subject matter of the writing. I will deliver Premium quality work without Plagiarism at less price and time. Get quality work by awarding this project to me, I look forward to getting started for you as soon as possible. Thanks!

$55 Chat With Writer
Custom Coursework Service

ONLINE

Custom Coursework Service

Hey, Hope you are doing great :) I have read your project description. I am a high qualified writer. I will surely assist you in writing paper in which i will be explaining and analyzing the formulation and implementation of the strategy of Nestle. I will cover all the points which you have mentioned in your project details. I have a clear idea of what you are looking for. The work will be done according to your expectations. I will provide you Turnitin report as well to check the similarity. I am familiar with APA, MLA, Harvard, Chicago and Turabian referencing styles. I have more than 5 years’ experience in technical and academic writing. Please message me to discuss further details. I will be glad to assist you out.

$55 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

April showers edith wharton analysis - Auditing - Bangladesh journal of medical science - Solar farm single line diagram - Individual therapy - Wk 3 - Apply: SSL Lab Using Qualys [due Day 7] - How to create structure in bex query designer - Childrens size 6 shoe conversion - Carnival cruise lines case study - Asian cultural traditions heinz pdf - What is 4u maths - Introduction to the microscope lab activity answers - Assignment cover sheet sample - Difference between nema ve1 and ve2 - Clarification in food processing - Types of theatre stages - Psy 110 university of phoenix - Historyextra com black death - Electron transport chain photosynthesis animation - Week 8 assignment - Plate tectonics and the origin of magma lab answers - Tim hortons franchise cost - Essentials of management essay week 1 - Discussion team - Bus pass redcar and cleveland - Warnerwoods company uses a perpetual inventory system - Griffith college assignment cover sheet - What is freemason handshake - Cardiology prefix and suffix - Medication teaching plan - Polynomial project rooms answer key - Codehs 6.4 7 double list - Module 2 Quiz - Swot analysis between walmart and target - Partial fraction of 1 s 1 2 - Organizational Policies and Practices to Support Healthcare Issues - What is an enduring issue in global history - The taming of the shrew questions and answers - 3 phase rcbo nhp - Feeling thermometer scale - Markeaton park paddling pool - Azar the things they carried - 2 - Franke bolero box 210-68 sink - A 55 kg box rests on a horizontal surface - Judgement in managerial decision making bazerman pdf - 1.5 page - The hitchhiker by lucille fletcher comprehension questions - American red cross financial report - Topic 5 DQ 2 - 5 fold dilution calculator - Discussion post - ¿quién le recomendó el restaurante a celia? - Tweeter etc case analysis - Feedback feedforward and concurrent controls - Dealer accounting procedures manual - Curveball the year i lost my grip sparknotes - Oedipus killing laius quotes - Need today - Cloud_Computing_week10 - Food safety act of 2013 ppt - Group project - Practical connection - Why is protein the last resort for energy - Sweet ease mechanism of action - Monklands hospital orthopaedic consultants - Railway engineering questions and answers - Warren buffett 2005 case study - Boot system flash command - Banyule city council ceo - Discussion Question - One minute goal setting template - Lusus naturae margaret atwood full text - Emotional fuel habitudes - Gallup strengths based leadership - Project outcomes report example - 10 column worksheet adjusted trial balance - Silver solder grades australia - Leeds uni canoe club - Supporting Document 1: Memorandum to the CEO Overview - Is someone able to complete my Contemporary International Problems essay? - Hybrid theory of language development - Harley oil temp sensor - Apush unit 3 test - Land transport rule vehicle dimensions and mass 2002 - Daily production report film - Sharon giammatteo cause of death - MA GD2 - A software package used to prepare budgets, reports, forecasts, and financial statements is a ____. - When were the georgia guidestones built - Blue dream hotel via orti 7 c 35043 monselice - How to make a histogram in spss - 4 actions framework example - Covalent lewis dot structure worksheet - Percent by mass of nahco3 in alka seltzer - Separation of photosynthetic pigments by paper chromatography conclusion - Can liquids be squashed - Cell biology and genetics uts - Mugin 3m uav - Name the intersection of plane acg and plane bcg