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
avanturin [10]
3 years ago
7

On January 1, 2021, James Corporation exchanged $3,050,000 cash for 100 percent of the outstanding voting stock of Johnson Corpo

ration. James plans to maintain Johnson as a wholly owned subsidiary with separate legal status and accounting information systems. At the acquisition date, James prepared the following fair-value allocation schedule: Consideration transferred for Johnson Corporation $ 3,050,000 Johnson’s carrying amount $ 2,300,000 Less: Johnson’s pre-existing goodwill (75,000 ) Identifiable net assets carrying amount 2,225,000 Excess consideration transferred over carrying amount of identifiable net assets $ 825,000 to Johnson’s patents (undervalued) 800,000 to new goodwill from Johnson acquisition (indefinite life) $ 25,000 Immediately after closing the transaction, James and Johnson prepared the following postacquisition balance sheets from their separate financial records. Accounts James Johnson Cash $ 245,000 110,000 Accounts receivable 1,830,000 360,000 Inventory 3,500,000 280,000 Investment in Johnson 3,050,000 0 Patents 7,000,000 1,000,000 Trademarks 0 3,200,000 Goodwill 150,000 75,000 Total assets $ 15,775,000 $ 5,025,000 Accounts payable $ (100,000 ) $ (515,000 ) Long-term debt (4,300,000 ) (2,210,000 ) Common stock (5,000,000 ) (1,000,000 ) Additional paid-in capital 0 (200,000 ) Retained earnings (6,375,000 ) (1,100,000 ) Total liabilities and equities $ (15,775,000 ) $ (5,025,000 ) Prepare an acquisition-date consolidated balance sheet for James Corporation and its subsidiary Johnson Corporation. (For accounts where multiple consolidation entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet. Negative amounts should be indicated by a minus sign.)
Mathematics
1 answer:
Sergeu [11.5K]3 years ago
7 0
Explanation step by step
You might be interested in
Please help give bralienst not need explation
Alecsey [184]

Answer:

4.5 cm

Step-by-step explanation:

The ruler says it all..... (why do you need help with this? What grade????)

Hope this helps, have a good day :)

7 0
3 years ago
Read 2 more answers
Cheryl and rodney are mixing yellow and blue paint to make green paint. The table shows how much of each color they use. Whose g
Tomtit [17]

The amount of blue color in the green paint is an illustration of ratios and proportions.

Cheryl's green paint has more blue color

The proportion of blue color is calculated as:

\mathbf{Proportion = \frac{Blue}{Blue+ Yellow}}

So, we have:

\mathbf{Cheryl= \frac{16}{16+ 24}}

\mathbf{Cheryl= \frac{16}{40}}

\mathbf{Cheryl= 0.40}

Express as percentage

\mathbf{Cheryl= 40\%}

\mathbf{Rodney= \frac{6}{6+ 10}}

\mathbf{Rodney= \frac{6}{16}}

\mathbf{Rodney= 0.375}

Express as percentage

\mathbf{Rodney= 37.5\%}

By comparison: 40% >37.5%

Hence, Cheryl's green paint has more blue color

Read more about proportions at:

brainly.com/question/21126582

4 0
2 years ago
True or False: The following relation is a function.
AysviL [449]

Answer:

A

Step-by-step explanation:

true

6 0
2 years ago
Read 2 more answers
Please help with this question!!
xxMikexx [17]

\text{Let}\ k:y=m_1x+b_1\ \text{and}\ l:y=m_2x+b_2\\\\l\perp k\iff m_1m_2=-1\to m_2=-\dfrac{1}{m_1}\\\\\text{We have the points J(-24, -4) and K(-4, 6)}.\\\\\text{The formula of a slope:}\\\\m=\dfrac{y_2-y_1}{x_2-x_1}\\\\\text{substitute:}\\\\m_1=\dfrac{6-(-4)}{-4-(-24)}=\dfrac{10}{20}=\dfrac{1}{2}\\\\\text{therefore}\ m_2=-\dfrac{1}{\frac{1}{2}}=-2\\\\\text{The formula of a midpoint:}\\\\\left(\dfrac{x_1+x_2}{2};\ \dfrac{y_1+y_2}{2}\right)\\\\\text{substitute the coordinates of the points J and K:}

x=\dfrac{-24+(-4)}{2}=\dfrac{-28}{2}=-14\\\\y=\dfrac{-4+6}{2}=\dfrac{2}{2}=1\\\\\text{midpoint}\ (-14,\ 1)\\\\\text{The point-slope form:}\\\\y-y_1=m(x-x_1)\\\\\text{substitute}\ m=-2,\ x_1=-14\ \text{and}\ y_1=1:\\\\y-1=-2(x-(-14))\\\\\boxed{y-1=-2(x+14)}

8 0
2 years ago
8 and 1/5 + 4 and 2/5=?
Leviafan [203]
12 and 3/5 hope this helped
4 0
3 years ago
Other questions:
  • Answer the following prompts with numerical answers only. If necessary, round answers to the nearest tenth of a unit. The diamet
    10·1 answer
  • The equation 4x – 45 = y is used to find your profit, y, in dollars from buying $45 of supplies and washing cars for $4 each. Wh
    7·1 answer
  • Five chips numbered 1 through 5 are placed in a bag. A chip is drawn and replaced. Then a second chip is drawn. Find the probabi
    7·2 answers
  • Emily makes 250 grams of snacks mixture. 25 percent banana chips and the rest of peanuts. How many gram peanuts does she used?
    9·2 answers
  • In a standard deck of cards there are four suits: spades, clubs, hearts, and diamonds. Each suit has one each of 13 cards: ace,
    12·2 answers
  • Which of these expressions is equal to 6+(2+3)x5
    6·2 answers
  • 18. In their last basketball game, Holly scored
    11·1 answer
  • PLEASE HELP!! I’ll appreciate it!
    8·1 answer
  • Pedro buys a clarinet online for $996. 93. If shipping and handling are an additional 17% of the price, how much shipping and ha
    8·1 answer
  • The frequency table shows the scores from rolling a dice.<br> Score<br> Frequency
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!