- 9 ut of question On January 1, 2009, Redding Company acquired 80 percent of Frazer Corporation's common stock for $344,000 in cash At the acquisition date, the book values and fair values of Frazer's assets and liabilities were equal. and the fair value of the noncontrolling interest was equal to 20 percent of the total book value of Frazer The stockholders' equity accounts of the two companies at the acquisition date are: Redding Frazer common stock(5@par 500.000 200,000 additional paid in capital 300,000 80.000 retained earning 350,000 150,000 Noncontrolling Interest was assigned income of $11,000 in Redding's consolidated income statement for 2009 Based on the preceding Information, what will be the amount of net income reported by Frazer Corporation in 20092 select one: a 55,000 D: 44.000 steetphot19953cdi 29954292 ENGWE 0 SUS - General - Question 10 In the business combination of Polka and Spot Not yet answered Marloed out of 1:59 Flag question Select one: a. the costs of registering and issuing the securities are included as part of the purchase price for Spot. b. the salaries of Polka's employees assigned to the merger are treated as expenses. c. all of the costs except those of registering and issuing the securities are included in the purchase price of Spot. d. only the accounting and legal fees are included in the purchase price of Spot Previous page Next page Return to General 0 110 EG ASUS Dashboard My courses 20202 - General - Question 11 All expenses paid of a business combination reduce additional paid-in capital of the Investor answered Select one: : True Macked out of . False og gestion Previous page Next page Return to: General Wantedus/mod/quic/ottenptchplatten 189963&cmit 109540 ENG 40 60 . ASUS shboard My courses 20202 - neral - Jestion 12 A parent company uses the equity method to account for its wholly-owned subsidiary. Which of the following will be a correct procedure for the Investment account? wered Maried out of W.SO Flag cuestion Select one: a. A debit for a subsidiary loss and a credit for dividends received b. A credit for a subsidiary loss and a credit for dividends received C. A credit for subsidiary income and a debit for dividends received d. A debit for subsidiary dividends received and a credit for a subsidiary loss Previous page Next page Return to: General 0 EN ASUS