Help Save & Exit Miller Company acquired an 80 percent interest in Taylor Company on January 1, 2016. Miller paid $800,000 in cash to the owners of Taylor to both before and after Miller's acquisition. acquire these shares. In addition, the remaining 20 percent of Taylor shares continued to trade at a total value of $200,000 On January 1, 2016, Taylor reported a book value of $674,000 (Common Stock $337000: Additional Paid-In Capital- $101100: Retained Earnings $235.900). Several of Taylor's buildings that had a remaining life of 20 years were undervalued by a total of $89,800. During the next three years, Taylor reports income and declares dividends as follows: Dividends 11,500 17,400 23,300 79,000 103,500 115,900 2016 2017 2018 Determine the appropriate answers for each of the following questions: a. What amount of excess depreciation expense should be recognized in the consolidated financial statements for the initial years following this acquisition? b. If a consolidated balance sheet is prepared as of January 1, 2016, what amount of goodwill should be recognized? c. if a consolidation worksheet is prepared as of January 1, 2016, what Entry S and Entry A should be included? d. On the separate financial records of the parent company, what amount of investment income would be reported for 2016 under each of the following accounting methods? . The equity method. e The partial equity method. . The initial value method. Prev 10,4 Next> t up for a tresh, lke-new experiance? And by the way welcome back t started Firefox in a while Do you want to clean 16 He f. As of December 31, 2017, Miller's Buildings account on its separate records has a balance of $932,000 and Taylor has a simllar account with a $349,500 balance. What is the consolidated balance for the Buildings account? g. What is the balance of consolidated goodwill as of December 31, 2018? h. Assume that the parent company has been financial statements for the two companies present the following information: applying the equity method to this investment. On December 31, 2018, the separate 0 Miller Company 582,500 337,000 326,200 722,300 Taylo Company Common stock Additional paid-in capital Retained earnings, 12/31/18 101,100 482,100 What will be the consolidated balance of each of these accounts? Complete this question by entering your answers in the tabs below Req F and G Req H Reg D and E Req C Req A and B depreciation expense should be recognized in the consolidated financial statements for the initial a.What amount of excess years following this acquisition? b. If a consolidated balance sheet is prepared as of January 1, 2016, what amount of goodwill should be recognized? a. Amount of excess depreciation b. Amount of goodwill lB Next> 1 of 4 Prev havent started Firetox in a while. Do you want to clean it up for a frosh, ske-new experionce? And by the way, welcome back
