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lana [24]
3 years ago
7

On january 3, 2013, persoff corporation acquired all of the outstanding voting stock of sea cliff, inc. In exchange for $6,000,0

00 in cash. Persoff elected to exercise control over sea cliff as a wholly owned subsidiary with an independent accounting system. Both companies have december 31 fiscal year-ends. At the acquisition date, sea cliff's stockholders' equity was $2,500,000 including retained earnings of $1,700,000.Persoff pursued the acquisition, in part, to utilize sea cliff 's technology and computer software. These items had fair values that differed from their values on sea cliff 's books as follows:
Business
1 answer:
konstantin123 [22]3 years ago
3 0

Answer:

It is a wholly owned subsidiary so the Income Statement will include the figures of both the companies in the consolidated Income Statement. However the equity side of Balance Sheet will include share capital of only the parent company and include retained earnings of both the companies, assets will added up of the two companies and reported in the Balance Sheet however goodwill of the subsidiary will also be reported and liabilities will also be added up and reported in a same manner.

Explanation:

Because the data is not completely provided a general idea is provided here:

It is a wholly owned subsidiary so the Income Statement will include the figures of both the companies in the consolidated Income Statement. However the equity side of Balance Sheet will include share capital of only the parent company and include retained earnings of both the companies, assets will added up of the two companies and reported in the Balance Sheet however goodwill of the subsidiary will also be reported and liabilities will also be added up and reported in a same manner.

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3 years ago
What are concurrent powers​
kolezko [41]

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Concurrent powers are powers enjoyed by both the state and federal government. These powers may be exercised simultaneously, in the same area, and among the same group of citizens. For instance, residents of most states are required to pay both federal and state taxes.

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Aggregate supply is represented as a schedule or curve showing the relationship between the nation's
Diano4ka-milaya [45]

Aggregate supply is represented as a schedule or curve showing the relationship between the nation's price level (index) and the amount of real domestic output that firms in the economy produce.

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Usually, the level of prices and total supply have a positive connection.

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4 0
2 years ago
Joint products A and B emerge from common processing that costs $108,000 and yields 3,200 units of Product A and 2,000 units of
Yuliya22 [10]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Joint products A and B emerge from common processing that costs $108,000 and yields 3,200 units of Product A and 2,000 units of Product B. Product A can be sold for $200 per unit. Product B can be sold for $160 per unit.

Total sale= 1,040,000

Product A= 640,000/1,040,000= 0.61

Product B= 0.39

Cost allocated

Product A= 0.61*108,000= 65,880

Product B= 0.39*108,000= 42,120

4 0
3 years ago
When studying abroad last year, Blake found that his U.S. dollars did not stretch as far as he had hoped. Each time he exchanged
rewona [7]

Answer:

C. the euro has gained strength against the dollar.

Explanation:

If Blake gives up more U.S. dollars in exchange for less euros every time, this means that the exchange rate is increasing. The exchange rate is the price of a currency in exchange for another. So, if the price is increasing that means that euro is getting stronger than dollars,  which is contrary to affirmation A and B, but is affirmation C. This could be because the demand for euro is stronger than the demand for dollars, which is contrary to affirmation D.

5 0
3 years ago
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