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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
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Option B: 8x+1 has the steepest slope

Step-by-step explanation:

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We have to compare the slopes of all given options to find the steepest slope

As the options are in slope-intercept form, the coefficients of x will be the slope

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So,

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Keywords: Slope, steepness

Learn more about slopes at:

  • brainly.com/question/6465937
  • brainly.com/question/6431715

#LearnwithBrainly

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