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
BabaBlast [244]
3 years ago
6

Bristle Corporation acquired 75 percent of Silver Corporation's common stock on December 31, 20X8, for $300,000. The fair value

of the noncontrolling interest at that date was determined to be $100,000. Silver's balance sheet immediately before the combination reflected the following balances:Cash and Receivables$40,000Inventory $70,000Land $90,000Buildings and Equipment (net) $250,000Total Assets $450,000Accounts Payable $30,000Income Taxes Payable $40,000Bonds Payable $100,000Common Stock $100,000Retained Earnings $180,000Total Liabilities and Stockholders' Equity $450,000A careful review of the fair value of Silver's assets and liabilities indicated that inventory, land, and buildings and equipment (net) had fair values of $65,000, $100,000, and, $300,000 respectively. Goodwill is assigned proportionately to Bristle and the noncontrolling shareholders.1. Based on the preceding information, what amount of goodwill will be reported in the consolidated balance sheet immediately following the acquisition?A. $0B. $120,000C. $65,000D. $20,000Answer: C2. Based on the preceding information, what amount will be reported as investment in Silver Corporation stock in the consolidated balance sheet immediately following the acquisition?A. $0B. $210,000C. $300,000D. $400,000Answer: ACan you explain and show me why those are the answer?
Business
1 answer:
IRINA_888 [86]3 years ago
4 0

Answer

1. Goodwill = 65000

2. option A.

The answer of the exercise is attached in a microsof excel document.  

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.

2. In the consolidated balance sheet investment in silver corporation is eliminated in worksheet entries.

Download xlsx
You might be interested in
On March 1, Wright Company purchased new equipment for $58,500 by paying cash. Other costs associated with the equipment were: t
OLga [1]

Answer:

$70,100

Explanation:

The computation of the equipment recorded on a balance sheet is shown below:

= Purchase of new equipment + transportation cost + sales tax paid + installation cost

= $58,500 + $2,700 + $4,700 + $4,200

= $70,100

We simply added the above four items so that the recorded value of an equipment could come

7 0
3 years ago
Data on consumer spending per capita or industrial purchasing trends would be identified in the ________ section of a global mar
larisa [96]

Answer:

The right approach will be "Economic".

Explanation:

  • Both of the economic conditions that shape the market as well as customer behavior are the emphasis or objective including its economic climate.
  • These variables could be used to forecast the path during which the economy will change the potential for customer demand and the much-needed market pattern or study.
8 0
3 years ago
Sarah buys 500 shares of stock at $18 and sells the holding for a capital gain of $3,000. What was the share price at the time o
djverab [1.8K]

Answer:

$24

Explanation:

500 * 18 = $9000 worth of stock initially.

She sells with a $3000 gain, which means the value of the stock is $12000

12000/500 = $24

7 0
3 years ago
John (45) and Cynthia (46) are married, and they will file a joint return. During the year, they earned investment income consis
svetlana [45]

Answer:

                          Calculation of Net taxable income

Particulars                                                        Amount        Amount

Interest income from savings interest                                   $200

Interest income from certificate deposit                                $350

Dividend from saving account with                                        $100

local credit union  

Interest income from us treasury note                                    $250

Tax exempt interest from municipality bond                          $500

Ordinary dividend                                                                     <u>$1,700</u>

Gross total income                                                                    $3,100

<u>Income exempt</u>

Dividend from saving account                           $100

Dividend from treasury note                              $250

Tax exempt interest from municipality bond    <u>$500</u>              <u>$850</u>

Net taxable income                                                                   <u>$2,250</u>

8 0
3 years ago
At Haddon, Inc., the office workers are employed for a 40-hour workweek and are paid on either an annual, monthly, or hourly bas
levacccp [35]

Answer:

Employee        Salary          Hrs. Worked        Cumulative Taxable

                                                                         Wages as of Last Pay Period

King, M.      $135,200 (year)     40                  $132,600.00

Manera, E.     $6,500 (month)  40                  $76,500.00

Tate, S.          $3,900 (month)  48                  $45,900.00

Yee, L.            $12.50 (hour)     44.5               $27,675.13

Diaz, R.           $12.50 (hour)     48                  $14,778.96

Zagst, J.          $14.50 (hour)     52                  $24,703.02

(a) regular earnings,  

King, M. $135,200 / 52 weeks = $2,600    

Manera, E. $1,500 weekly salary    

Tate, S. $900      

Yee, L. $12.50 x 40 = $500        

Diaz, R. $12.50 x 40 = $500        

Zagst, J. $14.50 x 40 = $580

(b) overtime earnings,

King, M. $0    

Manera, E. $0  

Tate, S. [($900 / 40) x 8 x 1.5] = $270      

Yee, L. $12.50 x 4.5 x 1.5 = $84.38        

Diaz, R. $12.50 x 8 x 1.5 = $150                  

Zagst, J. $14.50 x 12 x 1.5 = $261

(c) total regular and overtime earnings,

King, M. $2,600    

Manera, E. $1,500  

Tate, S. $1,170      

Yee, L. $584.38        

Diaz, R. $650                  

Zagst, J. $841

(d) FICA taxable wages (the FICA taxes limit for 2020 is $137,700, so everyone will be taxed)

King, M. $2,600    

Manera, E. $1,500  

Tate, S. $1,170      

Yee, L. $584.38        

Diaz, R. $650                  

Zagst, J. $841

(e) FICA taxes to be withheld

King, M. $2,600 x 7.65% = $198.90    

Manera, E. $1,500 x 7.65% = $114.75      

Tate, S. $1,170 x 7.65% = $89.51          

Yee, L. $584.38 x 7.65% = $44.71            

Diaz, R. $650 x 7.65% = $49.73                      

Zagst, J. $841 x 7.65% = $64.34    

(f) net pay for the week ended

King, M. $2,600 - $198.90 = $2,401.10    

Manera, E. $1,500 - $114.75 = $1,385.25      

Tate, S. $1,170 - $89.51 = $1,080.49          

Yee, L. $584.38 - $44.71 = $539.67            

Diaz, R. $650 - $49.73 = $600.27                      

Zagst, J. $841 - $64.34 = $776.66    

3 0
3 years ago
Other questions:
  • The demand and supply schedules for sunscreen at a small beach are shown below. Market for sunscreen price (dollars per bottle)
    10·1 answer
  • Trading one good or service for a good or service of equal value is called
    11·2 answers
  • Gerald took a break while two of his coworkers completed a task that all three of them volunteered for. This shows a lack of ___
    14·1 answer
  • Robert White will receive cash flows of $4,450, $4,775, and $5,125from his investment. If he can earn 7 percent on any investmen
    6·1 answer
  • Craig graduated from college and got his first job. He rented an apartment and purchased new furniture, appliances, and a televi
    8·1 answer
  • Marko, Inc. is considering the purchase of ABC Co. Marko believes that ABC Co. can generate cash flows of $6,600, $11,600, and $
    14·1 answer
  • John is an expediter for a paper goods manufacturer. he has been asked to track how much time he spends traveling to and from ea
    15·1 answer
  • Can I use MemberPress to create and sell online courses?
    6·2 answers
  • Should Monics and Ami use a loan or their personal funds to finance their business startup? What other alternatives might they c
    12·2 answers
  • What is the pareto-optimal frontier?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!