C Corporation recently purchased 80 percent of the stock of T Decks, Inc., for P232,000. At...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
C Corporation recently purchased 80 percent of the stock of T Decks, Inc., for P232,000. At the date of purchase the consolidated balance sheet showed P40,000 of goodwill from the acquisition. The book value of T Deck's net assets at the time of acquisition was: C Corporation recently purchased 80 percent of the stock of T Decks, Inc., for P232,000. At the date of purchase the consolidated balance sheet showed P40,000 of goodwill from the acquisition. The book value of T Deck's net assets at the time of acquisition was:
Expert Answer:
Answer rating: 100% (QA)
The book value of T Decks net assets at the time of acquisition can be calcul... View the full answer
Related Book For
Advanced Accounting
ISBN: 978-0134472140
13th edition
Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith
Posted Date:
Students also viewed these accounting questions
-
The Holtz Corporation acquired 80 percent of the 100,000 outstanding voting shares of Devine, Inc., for $6.90 per share on January 1, 2017. The remaining 20 percent of Devine's shares also traded...
-
Bamb-Bamb Incorporated acquired 80 percent of the outstanding common stock of Pebbles Corporation on January 1, 2013. Bamb-Bamb Incorporated paid a total of $910,000 in cash for these shares. The 20...
-
A company has the following data to prepare the budgets for 2023: Budgeted Sales units: 1 st Qtr 5,000; 2 nd Qtr 5,500; 3 rd Qtr 6,000 Desired Ending Finished Goods Inventory: 20% of next Qtr Sales...
-
8 Assume a company reported the following results: Sales Net operating income Average operating assets Margin Turnover Return on investment (ROI) What is the return on investment? ? $ 120,000 $...
-
Presented below are the computed amounts of ratios for the Village of Elizabeth example appearing in the chapter. a. Using the financial statements provided in Illustrations 25 through 211, compute...
-
A complete budgetary system can be costly. One solution to this problem is to prepare only a cash budget. Would you agree? Explain your answer.
-
Derive Eqs. (13.113b) and (13.116b) for the Mathieu equation. Equation 13.113b and 13.116b:- a 11 + E 62 - 8 + (13.113b)
-
Wildwood Nursery, with an authorization of 50,000 shares of preferred stock and 400,000 shares of common stock, completed several transactions involving its stock on June1, the first day of...
-
A loan officer is creating a loan portfolio by combing three other loan funds ( high risk, medium risk, and low risk ) . The officer is considering five interest rate environments ( A , B , C , D ,...
-
The irreversible, first-order reaction of gaseous A B occurs in spherical catalyst pellets with a radius of 2 mm. For this problem, the molecular diffusivity of A is 1.2 X 10 1 cm 2 /s and the...
-
33. You have just completed a DC valuation of Norwood Enterprises, a financial distressed company, and arrived at a value of $550 million for its operating asset. The firm owes $300 million and has...
-
False pretenses is shorthand for the crime of obtaining property by deception. It is distinct from larceny because of the deception and/or false representation involved. Forgery is the false making...
-
When a piece of cork floats in water, three-quarters of its volume is above the water surface. How does the mass density of cork compare with the mass density of water?
-
A dam of horizontal length \(\ell\) holds water of mass density \(ho\) to a height \(h\). What is the magnitude of the force exerted by the water on the dam?
-
A bag holds 10 black jellybeans, 12 green ones, 3 orange ones, and 20 blue ones. If you reach in and grab one randomly, what is the probability of picking sequentially (a) a black one, \((b)\) an...
-
Particles in a closed container move around and collide with one another and with the walls of the container. There are \(5.00 \times 10^{13}\) basic states possible for this system, and the...
-
The following data is available relating to cost and activity: Activity Total cost S 29,420 30,294 30.764 Units 12,600 13, 440 13.880 Using the high low method, what is the variable cost per unit (to...
-
From the choice of simple moving average, exponential smoothing, and linear regression analysis, which forecasting technique would you consider the most accurate? Why? please write it in word...
-
Choose a CAFR from a city, county, or other local government. Review the CAFR and answer the following questions: a. How many proprietary funds does the government have? List the name of one...
-
How does an expenditure differ from an expense? Identify the funds that report expenditures and those that report expenses.
-
How is the computation of noncontrolling interest share affected by downstream sales of land? By upstream sales of land?
-
An ABC News story reported the number of calories in hamburgers from six fast-food restaurants: McDonalds, Burger King, Wendys, Hardees, Sonic, and Dairy Queen. The results are a. Find the mean...
-
According to the National Vital Statistics Reports, the mean life expectancy for United States was 78.7 years and the median was 83.5. If a histogram were constructed for the lifespans of all people...
-
In the 2016 Olympic Games, Michael Phelps won five gold medals in swimming. Following are the events he won, along with his margin of victory, in seconds. a. What was the mean margin of victory? b....
Study smarter with the SolutionInn App