DataCloud purchased all of the shares of Supercore for $25 million in cash. Supercore has no...
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DataCloud purchased all of the shares of Supercore for $25 million in cash. Supercore has no previously unreported identifiable assets or liabilities. The balance sheets of DataCloud and Supercore just after the acquisition appear below, along with fair value information for Supercore's net assets. Current assets Long-term assets Investment in Supercore Liabilities Capital stock Retained earnings Treasury stock Accumulated other comprehensive income Total n a. b. C. d. a answer a $600,000 debit $100,000 credit DataCloud Book Value $ 15,000,000 40,000,000 25,000,000 (35,000,000) (30,000,000) (15,600,000) $ 100,000 500,000 Book Value Dr (Cr) $ 10,000,000 30,000,000 (20,000,000) (4,000,000) (15,950,000) 50,000 (100,000) Supercore On the consolidated balance sheet on the date of acquisition, what is the balance for accumulated other comprehensive income? $500,000 debit $400,000 debit Fair Value $ 7,000,000 25,000,000 (22,000,000) DataCloud purchased all of the shares of Supercore for $25 million in cash. Supercore has no previously unreported identifiable assets or liabilities. The balance sheets of DataCloud and Supercore just after the acquisition appear below, along with fair value information for Supercore's net assets. Current assets Long-term assets Investment in Supercore Liabilities Capital stock Retained earnings Treasury stock Accumulated other comprehensive income Total n a. b. C. d. a answer a $600,000 debit $100,000 credit DataCloud Book Value $ 15,000,000 40,000,000 25,000,000 (35,000,000) (30,000,000) (15,600,000) $ 100,000 500,000 Book Value Dr (Cr) $ 10,000,000 30,000,000 (20,000,000) (4,000,000) (15,950,000) 50,000 (100,000) Supercore On the consolidated balance sheet on the date of acquisition, what is the balance for accumulated other comprehensive income? $500,000 debit $400,000 debit Fair Value $ 7,000,000 25,000,000 (22,000,000)
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