Homework Answers
1. TOTAL DEBT AND EQUITY ON CONSOLIDATED BASIS IS $ 6,521,000+$3,273,000=$9,794,000
NOT $5,614,000
2. TOTAL OF ALL ADJUSTMENTS AND ELIMINATIONS ARE $3,000,000 LOAN+INTEREST ON LOAN
$180,000-DIVIDEND TO SHARE HOLDERS $17,000=$3,163,000
3. TOTAL CONSOLIDATED LONG TERM DEBT IS $688,000+$3,000,000=$3,688,000 IS TRUE
4. TOTAL CONSOLIDATED ASSET EQUALS $6,521,000+$3,273,000=$9,794,000 IS TRUE
5.THE VALUE OF NON CONTROLLING INTEREST IS$ 180,000
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Required information On January 1, 2018, A. Hamilton, Inc. ("AHI) provides a loan for $3,000,000 to...
On January 1, 2018 Casey Corporation exchanged $3,205,000 cash for 100 percent of the outstanding voting...
On January 1, 2018 Casey Corporation exchanged $3,205,000 cash for 100 percent of the outstanding voting stock of Kennedy Corporation. Casey plans to maintain Kennedy as a wholly owned subsidiary with separate legal status and accounting information systems. At the acquisition date. Casey prepared the following fair-value allocation schedule: Fair value of Kennedy (consideration transferred) Carrying amount acquired Excess fair value to buildings (undervalued) to licensing agreements (overvalued) to goodwill indefinite life) $ 3,205,000 2,600,000 $ 605,000 $ 323,000 (191,000)...
Bethesda Mining Company reports the following balance sheet Information for 2018 and 2019. Prepare the 2018...
Bethesda Mining Company reports the following balance sheet Information for 2018 and 2019. Prepare the 2018 and 2019 common-size balance sheets for Bethesda Mining. (Do not round Intermedlate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) BETHESDA MINING COMPANY Balance Sheets as of December 31, 2018 and 2019 2018 2019 Assets Current assets Cash 52,990 67,084 62,781 83,139 Accounts receivable Inventory 122,559 188,119 Total 238,330 96 338,342 9% Fixed assets Net plant and...
On January 1, 2018 Casey Corporation exchanged $3,251,000 cash for 100 percent of the outstanding voting...
On January 1, 2018 Casey Corporation exchanged $3,251,000 cash for 100 percent of the outstanding voting stock of Kennedy Corporation. Casey plans to maintain Kennedy as a wholly owned subsidiary with separate legal status and accounting information systems. At the acquisition date, Casey prepared the following fair-value allocation schedule Fair value of Kennedy (consideration transferred) Carrying amount acquired Excess fair value 3,251,000 2,600,000 $ 651,000 to buildings (undervalued) to licensing agreements (overvalued) to goodwill (indefinite life) 322,000 141,000 181,000 $...
Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. Prepare the 2018...
Bethesda Mining Company reports the following balance sheet
information for 2018 and 2019.
Prepare the 2018 and 2019 common-size balance sheets for
Bethesda Mining. (Do not round intermediate calculations
and enter your answers as a percent rounded to 2 decimal places,
e.g., 32.16.)
please fill in the blanks!
thank you!
BETHESDA MINING COMPANY Balance Sheets as of December 31, 2018 and 2019 2018 2019 Assets Current assets Cash $ $ Accounts receivable 60,538 64,281 119,029 243,848 76,386 84,639 184,177 345,202...
Just Dew It Corporation reports the following balance sheet information for 2017 and 2018 Assets 2017...
Just Dew It Corporation reports the following balance sheet information for 2017 and 2018 Assets 2017 2018 $ Current assets Cash Accounts receivable Inventory 6,600 12,200 78.200 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 12,750 Accounts payable $ 50,000 14,250 Notes payable 19,000 95,250 $ 122,250 Total $ 69.000 Long-term debt $ 48,000 $ 68,750 35,500 Total $ 97,000 $ 104,250 $ 45,000 Owners' equity Common stock and paid-in...
On January 1, 2018 Casey Corporation exchanged $3.210,000 cash for 100 percent of the Union --...
On January 1, 2018 Casey Corporation exchanged $3.210,000 cash for 100 percent of the Union -- Corporation Casey plans to maintain Kennedy as a wholly owned subsidiary with separate legal status and accounting information systems 22 Al the acquisition date. Casey prepared the following fair value allocation schedule: Tair value of Kennedy (consideration transferred) Carrying out squired Ecoss a value to buildings undervalued) to licensing agreement overvalued) to goodwill indefinite life) $3,210,000 2.500.000 $ 510,000 $ 39,000 193,000) 200,000 410,000...
Just Dew It Corporation reports the following balance sheet information for 2017 and 2018 2017 Current...
Just Dew It Corporation reports the following balance sheet information for 2017 and 2018 2017 Current assets Cash Accounts receivable Inventory JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2018 2017 2018 Current liabilities $ 6,600 $ 12,750 Accounts payable $50,000 $ 68,750 12,200 14.250 Notes payable 19,000 35,500 78,200 95,250 $ 97,000 $ 122,250 Total $ 69,000 $104.250 Long-term debt $ 48,000 $ 45,000 Total Owners' equity Common stock and paid-in surplus Retained...
Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. Prepare the 2018...
Bethesda Mining
Company reports the following balance sheet information for 2018
and 2019.
Prepare the 2018 and 2019 common-size balance sheets for
Bethesda Mining. (Do not round intermediate calculations
and enter your answers as a percent rounded to 2 decimal places,
e.g., 32.16.)
Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. Prepare the 2018 and 2019 common-size balance sheets for Bethesda Mining. (Do not round intermediate calculations and enter your answers as a percent rounded...
Just Dew It Corporation reports the following balance sheet information for 2017 and 2018. JUST...
Just Dew It Corporation reports the following balance sheet information for 2017 and 2018. JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Assets Liabilities and Owners’ Equity 2017 2018 2017 2018 Current assets Current liabilities Cash $ 8,850 $ 14,200 Accounts payable $ 37,500 $ 46,600 Accounts receivable 15,750 23,000 Notes payable 11,850 19,400 Inventory 34,650 52,200 Total $ 59,250 $ 89,400 Total $ 49,350 $ 66,000 Long-term debt $ 27,000 $ 24,000 Owners’ equity Common stock and...
just dew it corporation reports the following balance sheet information for 2017 and 2018 7,800 Assets...
just dew it corporation reports the following balance sheet
information for 2017 and 2018 7,800
Assets 2017 2018 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 14,200 Accounts payable $ 37,500 23,000 Notes payable 11,850 52,200 Current assets Cash Accounts receivable Inventory $ 8,850 15,750 34,650 $ 46,600 19,400 Total $ 59,250 $ 89,400 Total $ 49,350 $ 27,000 $ 66,000 $ 24,000 Long-term debt Owners' equity Common stock and...
On January 1, 2018 Casey Corporation exchanged $3,205,000 cash for 100 percent of the outstanding voting stock of Kennedy Corporation. Casey plans to maintain Kennedy as a wholly owned subsidiary with separate legal status and accounting information systems. At the acquisition date. Casey prepared the following fair-value allocation schedule: Fair value of Kennedy (consideration transferred) Carrying amount acquired Excess fair value to buildings (undervalued) to licensing agreements (overvalued) to goodwill indefinite life) $ 3,205,000 2,600,000 $ 605,000 $ 323,000 (191,000)...
Bethesda Mining Company reports the following balance sheet Information for 2018 and 2019. Prepare the 2018 and 2019 common-size balance sheets for Bethesda Mining. (Do not round Intermedlate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) BETHESDA MINING COMPANY Balance Sheets as of December 31, 2018 and 2019 2018 2019 Assets Current assets Cash 52,990 67,084 62,781 83,139 Accounts receivable Inventory 122,559 188,119 Total 238,330 96 338,342 9% Fixed assets Net plant and...
On January 1, 2018 Casey Corporation exchanged $3,251,000 cash for 100 percent of the outstanding voting stock of Kennedy Corporation. Casey plans to maintain Kennedy as a wholly owned subsidiary with separate legal status and accounting information systems. At the acquisition date, Casey prepared the following fair-value allocation schedule Fair value of Kennedy (consideration transferred) Carrying amount acquired Excess fair value 3,251,000 2,600,000 $ 651,000 to buildings (undervalued) to licensing agreements (overvalued) to goodwill (indefinite life) 322,000 141,000 181,000 $...
Bethesda Mining Company reports the following balance sheet
information for 2018 and 2019.
Prepare the 2018 and 2019 common-size balance sheets for
Bethesda Mining. (Do not round intermediate calculations
and enter your answers as a percent rounded to 2 decimal places,
e.g., 32.16.)
please fill in the blanks!
thank you!
BETHESDA MINING COMPANY Balance Sheets as of December 31, 2018 and 2019 2018 2019 Assets Current assets Cash $ $ Accounts receivable 60,538 64,281 119,029 243,848 76,386 84,639 184,177 345,202...
Just Dew It Corporation reports the following balance sheet information for 2017 and 2018 Assets 2017 2018 $ Current assets Cash Accounts receivable Inventory 6,600 12,200 78.200 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 12,750 Accounts payable $ 50,000 14,250 Notes payable 19,000 95,250 $ 122,250 Total $ 69.000 Long-term debt $ 48,000 $ 68,750 35,500 Total $ 97,000 $ 104,250 $ 45,000 Owners' equity Common stock and paid-in...
On January 1, 2018 Casey Corporation exchanged $3.210,000 cash for 100 percent of the Union -- Corporation Casey plans to maintain Kennedy as a wholly owned subsidiary with separate legal status and accounting information systems 22 Al the acquisition date. Casey prepared the following fair value allocation schedule: Tair value of Kennedy (consideration transferred) Carrying out squired Ecoss a value to buildings undervalued) to licensing agreement overvalued) to goodwill indefinite life) $3,210,000 2.500.000 $ 510,000 $ 39,000 193,000) 200,000 410,000...
Just Dew It Corporation reports the following balance sheet information for 2017 and 2018 2017 Current assets Cash Accounts receivable Inventory JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2018 2017 2018 Current liabilities $ 6,600 $ 12,750 Accounts payable $50,000 $ 68,750 12,200 14.250 Notes payable 19,000 35,500 78,200 95,250 $ 97,000 $ 122,250 Total $ 69,000 $104.250 Long-term debt $ 48,000 $ 45,000 Total Owners' equity Common stock and paid-in surplus Retained...
Bethesda Mining
Company reports the following balance sheet information for 2018
and 2019.
Prepare the 2018 and 2019 common-size balance sheets for
Bethesda Mining. (Do not round intermediate calculations
and enter your answers as a percent rounded to 2 decimal places,
e.g., 32.16.)
Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. Prepare the 2018 and 2019 common-size balance sheets for Bethesda Mining. (Do not round intermediate calculations and enter your answers as a percent rounded...
just dew it corporation reports the following balance sheet
information for 2017 and 2018 7,800
Assets 2017 2018 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 14,200 Accounts payable $ 37,500 23,000 Notes payable 11,850 52,200 Current assets Cash Accounts receivable Inventory $ 8,850 15,750 34,650 $ 46,600 19,400 Total $ 59,250 $ 89,400 Total $ 49,350 $ 27,000 $ 66,000 $ 24,000 Long-term debt Owners' equity Common stock and...
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