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complete all 6 parts or I will give thumbs down. if you complete it all I will give thumbs up. On December 31, 20X6, Print
complete all 6 parts or I will give thumbs down. if you complete it all I will give thumbs up.
On December 31, 20X6, Print Corporation and Size Company entered Into a business combination in which Print acquired all of Size's common stock for $976,000. At the date of combination, Size had common stock outstanding with a par value of $118,000, additional paid-in capital of $418,000, and retained earnings of $186,000. The fair values and book values of all Size's assets and liabilities were equal at the date of combination, except for the following: The bulldings had a remaining life of 16 years, and the equipment was expected to Jast another 6 years. In accounting for the business combination. Print decided to use push-down accounting on Size's books. During 20X7, Size earned net income of $102,000 and paid a dividend of $59,000. All of the inventory on hand at the end of 206 was sold during 207. During 208, Size earned net income of $104,000 and pald a dividend of $59,000. Required: b. Record any entries that would be made on December 31,206, on Size's books related to the business combination if push-down accounting is employed. c. Present all consolidating entries that would appear in the worksheet to prepare a consolidated balance sheet immediately after the combination. d. Present all entrles that Print would record during 207 related to its investment in Size if Print uses the equity-method of accounting for its Investment. e. Present all consolidating entrles that would appear in the worksheet to prepare a full set of consolidated financial statements for the year 207. f. Present all consolidating entrles that would appear in the worksheet to prepare a full set of consolidated financlal statements for the year 208 Complete this question by entering your answers in the tabs below. Record the acquisition of Size's stock on Print's books on December 31,206. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account fieldStep by Step Solution
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