Company A acquired 100% of Company B on January 1, 2013, at a premium to book...
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Company A acquired 100% of Company B on January 1, 2013, at a premium to book value and wants to prepare a consolidated balance sheet for the combined entity as of December 31, 2013. The financial statements for each individual entity below are for the period ending December 31, 2013: Income Statement Totals Sales Cost of Goods Sold Depreciation Net Income Statement of Retained Earnings Beginning Balance Net Income Dividends Declared Ending Balance Balance Sheet Totals Cash Accounts Receivable Inventory Investment in Company B Land Buildings & Equipment Accumulated Depreciation Total Assets Accounts Payable Debt Outstanding Common Stock Retained Earnings Company A ($) Company B ($) 400,000 250,000 (150,000) (100,000) (30,000) (25,000) 220,000 125,000 230,000 220,000 (20,000) 430,000 20,000 30,000 60,000 200,000 250,000 700,000 (450,000) 1,110,000 60,000 300,000 300,000 430,000 100,000 125,000 (10,000) 215,000 40,000 25,000 70,000 300,000 220,000 (120,000) 535,000 50,000 100,000 170,000 215,000 What will the accumulated depreciation and common stock balances be for the consolidated company at the end of the year? Company A acquired 100% of Company B on January 1, 2013, at a premium to book value and wants to prepare a consolidated balance sheet for the combined entity as of December 31, 2013. The financial statements for each individual entity below are for the period ending December 31, 2013: Income Statement Totals Sales Cost of Goods Sold Depreciation Net Income Statement of Retained Earnings Beginning Balance Net Income Dividends Declared Ending Balance Balance Sheet Totals Cash Accounts Receivable Inventory Investment in Company B Land Buildings & Equipment Accumulated Depreciation Total Assets Accounts Payable Debt Outstanding Common Stock Retained Earnings Company A ($) Company B ($) 400,000 250,000 (150,000) (100,000) (30,000) (25,000) 220,000 125,000 230,000 220,000 (20,000) 430,000 20,000 30,000 60,000 200,000 250,000 700,000 (450,000) 1,110,000 60,000 300,000 300,000 430,000 100,000 125,000 (10,000) 215,000 40,000 25,000 70,000 300,000 220,000 (120,000) 535,000 50,000 100,000 170,000 215,000 What will the accumulated depreciation and common stock balances be for the consolidated company at the end of the year?
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Related Book For
Fundamentals of Advanced Accounting
ISBN: 978-0077862237
6th edition
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik
Posted Date:
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