1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Mila [183]
3 years ago
13

Trim Corporation acquired 100 percent of Round Corporation’s voting common stock on January 1, 20X2, for $400,000. At that date,

the book values and fair values of Round’s assets and liabilities were equal. Round reported the following summarized balance sheet data:
Business
1 answer:
Ann [662]3 years ago
3 0

Answer:

This question incomplete,find the complete question below:

Trim Corporation acquired 100 percent of Round Corporation’s voting common stock on January 1, 20X2, for $405,000. At that date, the book values and fair values of Round’s assets and liabilities were equal. Round reported the following summarized balance sheet data:

 

 Assets $ 715,000    Accounts Payable $ 102,000  

 Bonds Payable  208,000  

 Common Stock  120,000  

 Retained Earnings  285,000  

 Total $ 715,000    Total $ 715,000  

Round reported net income of $89,000 for 20X2 and paid dividends of $30,000.

Give the consolidation entries needed at December 31, 20X2, to prepare consolidated financial statements. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Explanation:

I have prepared necessary journals with which consolidation accounts can be prepared.

Find in the necessary journals in the attached excel document.

Download xlsx
You might be interested in
What is the definition of a meeting planner?
Yuliya22 [10]

Answer: Option (A) is correct.

Explanation:

An event planner or meeting planner is an individual who is responsible for bringing together every individual implicated in producing a get-together, incentive, special event. This individual understands the intent of the task, or organization's rationale. This requires working with a diverse range of people within the organization, also resources that are considered as external.

4 0
3 years ago
Once I click the link to go the quiz I have one hour to complete it before I get kicked out of the page. It is due tonight befor
Ratling [72]
That kinda sucks. how’s it going for you
3 0
3 years ago
Oceans inc. , a seafood distributor, agrees to buy from paul, a commercial fisherman, any "overstock" of fish that paul catches
USPshnik [31]

Oceans Inc., a seafood distributor, agrees to buy from Paul, a commercial fisherman, any "overstock" of fish that Paul catches in excess of his legal limit. This agreement is most likely void. Option C. This is further explained below.

<h3>What is overstock?</h3>

Generally, Oceans Inc., a distributor of seafood, has reached an agreement with Paul, a commercial fisherman, to purchase any "overstock" of fish that Paul captures in excess of the legal limit for his vessel.

This results in an increase in financial expenses since the investment is left in the storage facility rather than being used to generate cash flow or profits. Drives up the cost of logistics due to the fact that warehouse upkeep sometimes results in unused space and additional labor charges.

In conclusion, Overstocking, often known as "surplus stock," occurs when retailers buy more of a product than they actually move out of their shops. If a retailer overorders goods, they will end up with an excessive amount of stock. This surplus merchandise will either be left on shop shelves or in the warehouse, which may be detrimental to the company's profitability.

Read more about overstock

brainly.com/question/15834336

#SPJ1

Complete question

Oceans Inc., a seafood distributor, agrees to buy from Paul, a commercial fisherman, any "overstock" of fish that Paul catches in excess of his legal limit. This agreement is most likely

a. enforceable.

b. valid.

c. void.

d. voidable.

3 0
1 year ago
Will give BRAINLIEST! Please read the question THEN answer correctly! No guessing.
JulijaS [17]

Answer:

D

Explanation:

Since Sula is making her decision based on what would be environmentally friendly, she is being socially responsible, but not necessarily analyzing the other variables. Therefore, the answer is D. Hope this helps!

3 0
3 years ago
Something that credit card commercials don't show you is . . .
ikadub [295]

Credit card commercials do not show <u>2. People making </u><u>payments</u> for months or years on those credit card purchases.

<h3>What are credit card commercials?</h3>

Credit card commercials are the adverts placed on various media by credit card companies to entice individuals to sign on a credit card.

The commercials will show the great life of getting a credit card and making purchases convenient, including other enticements.

Thus,  credit card commercials do not show <u>Option 2.</u>

Learn more about credit cards at brainly.com/question/2808739

6 0
2 years ago
Other questions:
  • Hirons Air uses two measures of activity, flights and passengers, in the cost formulas in its budgets and performance reports. T
    13·1 answer
  • When a product or service is delivered for which a customer advance has been previously received, the appropriate journal entry
    6·1 answer
  • What are the major distinctions between a two year college and a four year college
    6·1 answer
  • For how long should a certified personal trainer maintain accurate contract and appointment records?
    14·1 answer
  • Prepaid Rent. On September 1 of the current year, the company prepaid $44,400 for two years of rent for facilities being occupie
    10·1 answer
  • Why net profit will be higher if increases average prices to customers?​
    5·1 answer
  • You are looking for part-time employment and posted your rĂ©sumĂ© to an online job site. One day you receive an e-mail from a co
    14·1 answer
  • During the past year, a company had cash flow to creditors, an operating cash flow, and net capital spending of $30,026, $67,603
    13·1 answer
  • Using the following data, prepare a statement of revenues, expenditures, and changes in fund balance for the General Fund of Jas
    10·1 answer
  • Which statements about the offer are true? Check all that apply.
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!