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hodyreva [135]
3 years ago
7

On January 1, 2013, the stockholders of Phillips and Solina agreed to a consolidation. Because FASBrequires that one party be re

cognized as the acquirer and the other as the acquiree, it was agreed that Phillips wasacquiring Solina. Phillips agreed to issue 20,000 shares of its $10 par stock to acquire all the net assets of Solinaat a time when the fair value of Phillips’ common stock was $15 per share.
On the date of consolidation, the fair values of Solina’s current assets and liabilities were equal to their bookvalues. The fair value of plant and equipment was, however, $150,000. Phillips will incur $20,000 of direct acqui-sition costs and $6,000 in stock issue costs.

Required:Prepare the journal entries on the books of Phillips to record the acquisition of Solina Company’s net assets.
Business
1 answer:
Galina-37 [17]3 years ago
6 0

Answer:

if you pay for money in have discussed about payment for your government and your country in 2012

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The matching principle:
KengaRu [80]

Answer: Option D

Explanation: Matching principle is an accounting standard which states that the expenses incurred in a period should be recognized in the period in which the revenue relating to that expense is earned regardless of the fact when the cash exchange has been done.

.

So, as per the given problem option D is the right answer.

8 0
3 years ago
Career readiness represents the extent to which you possess the ________ desired by employers.
ollegr [7]

Career readiness represents the extent to which you possess the <u>knowledge, skills, and attributes</u>  desired by employers.

<h3>What is Career readiness?</h3>

Career readiness can be defined as the way in which a person acquire or possess the necessary skills, knowledge that an employer desires an employee to posses.

Career readiness is essential for someone that want to build their career or the person that want to reach the highest peak of their career as this enable them to prepare ahead.

Therefore Career readiness represents the extent to which you possess the <u>knowledge, skills, and attributes</u>  desired by employers.

Learn more about Career readiness here:brainly.com/question/27841409

brainly.com/question/3299764

#SPJ1

8 0
2 years ago
Which statement about game rules is NOT true? A. Without rules, there is no competition. B. Competitors should accept penalties
Stels [109]

Answer:

It’s D

Explanation. Nothing Ik it’s it

7 0
3 years ago
Read 2 more answers
A bicycle repair company conducted segmentation research and then targeted their direct mail coupons for a first bike tune-up to
Kamila [148]

Answer:

Who am I trying to reach?

Explanation:

Targeting and segmentation is the process by which a company focuses marketing activities regarding a particular product to a defined customer profile.

Certain criteria like income, age, location, culture and so on can be used as a basis for segmentation.

Basically the question that segmentation and targeting answers is - Who am I trying to reach?

In the given scenario the bicycle repair company conducted segmentation research and then targeted their direct mail coupons for a first bike tune-up to that identified customer segment.

So they answered who they want to sell to.

8 0
3 years ago
Logan, a 50 percent shareholder in Military Gear Inc. (MG), is comparing the tax consequences of losses from C corporations with
Musya8 [376]

Answer:

$9,840

Explanation:

In this question, we have to take the difference between the payment for S corporation and the C corporation

If Military Gear Inc is a C corporation, then the payment would be

= Ordinary income × marginal tax rate

= $84,000 × 24%

= $20,160

And, if Military Gear Inc is a S corporation, then the payment would be

= (Ordinary income - net effect) ×  marginal tax rate

= ($84,000 - $41,000) × 24%

= $43,000 × 24%

= $10,320

The net effect would be

= $159,000 - $118,000

= $41,000

The net payment would be

= $20,160 - $10,320

= $9,840

4 0
4 years ago
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