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Excel Case - Consolidated Balances at End of Second Year of Ownership ( CPA Skills ) Case Facts: On January 1 , 2 0 2
Excel Case Consolidated Balances at End of Second Year of Ownership CPA Skills Case Facts: On January Fastnet.com acquired percent of the common stock of OpenWi Co for cash of $ The consideration transferred was allocated among OpenWi's net assets as follows: At the acquisition date, the computer software has a year remaining life, and the Internet domain was estimated to have a year remaining life. By the end of it became clear that the acquired inprocess research and development would yield no economic benefits and Fastnet.com recognized an impairment loss. At December OpenWi's accounts payable included a $ amount owed to Fastnet. The December trial balances for Fastnet.com and OpenWi is presented on the "Data" tab of the Week Excel Case data and template Excel file. Requirements: Using the template on the "Template" tab in this provided Excel file, complete the following: In the space provided, prepare the calculation that Fastnet performed to derive the $ reported as its December investment in OpenWi In the space provided, prepare the consolidating entries following the format shown in example entry Post the entries to the appropriate columns in the provided consolidation worksheet. Complete the consolidation worksheet to compute all consolidated totals which will be reported in Fastnet's financial statements at December Be sure to meet the following criteria as well : Properly label and format the worksheet. Utilize formulas for all computational based cells. Final product should be professional looking.Excel Case Consolidated Balances at End of Second Year of Ownership CPA Skills Case Facts: On January Fastnet.com acquired percent of the common stock of OpenWi Co for cash of $ The consideration transferred was allocated among OpenWis net assets as follows: At the acquisition date, the computer software has a year remaining life, and the Internet domain was estimated to have a year remaining life. By the end of it became clear that the acquired inprocess research and development would yield no economic benefits and Fastnet.com recognized an impairment loss. At December OpenWis accounts payable included a $ amount owed to Fastnet. The December trial balances for Fastnet.com and OpenWi is presented on the Data tab of the Week Excel Case data and template Excel file. Requirements: Using the template on the Template tab in this provided Excel file, complete the following: In the space provided, prepare the calculation that Fastnet performed to derive the $ reported as its December investment in OpenWi In the space provided, prepare the consolidating entries following the format shown in example entry S Post the entries to the appropriate columns in the provided consolidation worksheet. Complete the consolidation worksheet to compute all consolidated totals which will be reported in Fastnets financial statements at December Be sure to meet the following criteria as well : Properly label and format the worksheet. Utilize formulas for all computational based cells. Final product should be professional looking.
Excel Case Consolidated Balances at End of Second Year of Ownership CPA Skills
Case Facts:
On January
Fastnet.com acquired percent of the common stock of OpenWi Co for
cash of $ The consideration transferred was allocated among OpenWi's net assets as
follows:
At the acquisition date, the computer software has a year remaining life, and the Internet domain
was estimated to have a year remaining life. By the end of it became clear that the
acquired inprocess research and development would yield no economic benefits and
Fastnet.com
recognized an impairment loss. At December OpenWi's accounts payable included a
$ amount owed to Fastnet.
The December trial balances for
Fastnet.com and OpenWi is presented on the "Data"
tab of the Week Excel Case data and template Excel file.
Requirements:
Using the template on the "Template" tab in this provided Excel file, complete the following:
In the space provided, prepare the calculation that Fastnet performed to derive the
$ reported as its December investment in OpenWi
In the space provided, prepare the consolidating entries following the format shown in
example entry Post the entries to the appropriate columns in the provided consolidation
worksheet.
Complete the consolidation worksheet to compute all consolidated totals which will be
reported in Fastnet's financial statements at December
Be sure to meet the following criteria as well :
Properly label and format the worksheet.
Utilize formulas for all computational based cells.
Final product should be professional looking.Excel Case Consolidated Balances at End of Second Year of Ownership CPA Skills
Case Facts:
On January Fastnet.com acquired percent of the common stock of OpenWi Co for cash of $ The consideration transferred was allocated among OpenWis net assets as follows:
At the acquisition date, the computer software has a year remaining life, and the Internet domain was estimated to have a year remaining life. By the end of it became clear that the acquired inprocess research and development would yield no economic benefits and Fastnet.com recognized an impairment loss. At December OpenWis accounts payable included a $ amount owed to Fastnet.
The December trial balances for Fastnet.com and OpenWi is presented on the Data tab of the Week Excel Case data and template Excel file.
Requirements:
Using the template on the Template tab in this provided Excel file, complete the following:
In the space provided, prepare the calculation that Fastnet performed to derive the $ reported as its December investment in OpenWi
In the space provided, prepare the consolidating entries following the format shown in example entry S Post the entries to the appropriate columns in the provided consolidation worksheet.
Complete the consolidation worksheet to compute all consolidated totals which will be reported in Fastnets financial statements at December
Be sure to meet the following criteria as well :
Properly label and format the worksheet.
Utilize formulas for all computational based cells.
Final product should be professional looking.
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