12X MInbox (1,176) - za 201700300st X E ADVANCED ACCOUNTING MIDTI X + modOv6yM_hHG_Y9-b20g3c4ekyo YllwoP7Xh17sHg/viewform nimated GIF G digital marketing 8 baby > New Tab British Council IELT... Degree Programs G Good Luck - Googl... u Administrative Hum.. On 1/1/2019 Company AA purchased all the shares of company BR from its shareholders. In return, Company AA paid those shareholders $ 60,000 in cash and issued for them 30000 of its own shares (par value $2 each, market value $ each). Company AA also pays $ 2,000 cash for registration fees, and $ 1,000 cash consulting fees. On 1/1/2019, Company AA dissolves Company BB. The assets and liabilities of Company BB on 1/1/2019 equal the following values Account Book value Fair value Cash Accounts receivable (et) Taventory Property, plant, and equipment (net) Accounts payable 35,000 32.000 50,000 250.000 100.000 35,000 30,000 45.000 300,000 100,000 Provide the journal entry for the purchase Your answer Provide the journal entry for the extra business combination costs Your answer Provide the journal entry for dissolving BB and merging it into AA Your answer When a company purchases 100% of the common shares of another company, and decides to dissolve the investee, what is the accounting treatment for the resulting goodwill in the financial statements at year end for the investor (1) if the goodwill is positive, and (2) if the goodwill is negative? Your answer O a e S w BRING HOME FASHIONABLE DESIGN m X M Inbox (1176) - za 201700300sto X 2 ADVANCED ACCOUNTING MIDT X + OV6yM_hHG_Y9-Iz093cdekyrjYllwoP7Xh17sHg/viewform mated GIF G digital marketing ...SOL , > New Tab 1 EUtch Couc|| TLT. Degree Programs G Good Luck - Googl... u Administrative Hum... RS On 1/1/2016. Company XXXX purchases 30% of the shares of Company ZZZZ for $ 200.000 cash. On this date, the assets and liabilities of Company ZZZZ have the following values. Account Book value Fair value Cash 50,000 50.000 Accounts receivable (net) 30,000 30.000 Inventory 70,000 60,000 Buildings (net) 150,000 170,000 Equipment (net) 200,000 240,000 Land 140,000 150,000 Accounts payable 50,000 50,000 Notes payable 25,000 30,000 Additional information a. All of the inventory was sold during 2016, b. The building has remaining expected useful life of ten years (starting from 1/1/2016) The equipment has remaining expected useful life of four years (starting from 11/2016) d- The notes payable will be paid equally over two years starting from 1/1/2016 e On 1/6/2016, Company ZZZZ declared and paid cash dividends of $ 6,000 The net income for Company ZZZZ in 2016 was $50,000 Compute the full goodwill of ZZZZ Company on 1/1/2016. Your answer Provide the journal entry in company XXXX's books for the purchase on 1/1/2016 Your answer Provide the journal entry in company XXX's books for the dividends on 1/6/2016 Your answer Provide the journal entry in company XXXX's books for the income on 31/12/2016 O 1 a e BA BRING HOME FASHIONABLE DESIGN 12X MInbox (1,176) - za 201700300st X E ADVANCED ACCOUNTING MIDTI X + modOv6yM_hHG_Y9-b20g3c4ekyo YllwoP7Xh17sHg/viewform nimated GIF G digital marketing 8 baby > New Tab British Council IELT... Degree Programs G Good Luck - Googl... u Administrative Hum.. On 1/1/2019 Company AA purchased all the shares of company BR from its shareholders. In return, Company AA paid those shareholders $ 60,000 in cash and issued for them 30000 of its own shares (par value $2 each, market value $ each). Company AA also pays $ 2,000 cash for registration fees, and $ 1,000 cash consulting fees. On 1/1/2019, Company AA dissolves Company BB. The assets and liabilities of Company BB on 1/1/2019 equal the following values Account Book value Fair value Cash Accounts receivable (et) Taventory Property, plant, and equipment (net) Accounts payable 35,000 32.000 50,000 250.000 100.000 35,000 30,000 45.000 300,000 100,000 Provide the journal entry for the purchase Your answer Provide the journal entry for the extra business combination costs Your answer Provide the journal entry for dissolving BB and merging it into AA Your answer When a company purchases 100% of the common shares of another company, and decides to dissolve the investee, what is the accounting treatment for the resulting goodwill in the financial statements at year end for the investor (1) if the goodwill is positive, and (2) if the goodwill is negative? Your answer O a e S w BRING HOME FASHIONABLE DESIGN m X M Inbox (1176) - za 201700300sto X 2 ADVANCED ACCOUNTING MIDT X + OV6yM_hHG_Y9-Iz093cdekyrjYllwoP7Xh17sHg/viewform mated GIF G digital marketing ...SOL , > New Tab 1 EUtch Couc|| TLT. Degree Programs G Good Luck - Googl... u Administrative Hum... RS On 1/1/2016. Company XXXX purchases 30% of the shares of Company ZZZZ for $ 200.000 cash. On this date, the assets and liabilities of Company ZZZZ have the following values. Account Book value Fair value Cash 50,000 50.000 Accounts receivable (net) 30,000 30.000 Inventory 70,000 60,000 Buildings (net) 150,000 170,000 Equipment (net) 200,000 240,000 Land 140,000 150,000 Accounts payable 50,000 50,000 Notes payable 25,000 30,000 Additional information a. All of the inventory was sold during 2016, b. The building has remaining expected useful life of ten years (starting from 1/1/2016) The equipment has remaining expected useful life of four years (starting from 11/2016) d- The notes payable will be paid equally over two years starting from 1/1/2016 e On 1/6/2016, Company ZZZZ declared and paid cash dividends of $ 6,000 The net income for Company ZZZZ in 2016 was $50,000 Compute the full goodwill of ZZZZ Company on 1/1/2016. Your answer Provide the journal entry in company XXXX's books for the purchase on 1/1/2016 Your answer Provide the journal entry in company XXX's books for the dividends on 1/6/2016 Your answer Provide the journal entry in company XXXX's books for the income on 31/12/2016 O 1 a e BA BRING HOME FASHIONABLE DESIGN