how much is research and development cost?
What is Dec. 31,2018 balance of consolidated Net Income attributable to noncontrolling Interes?
What is the elimination entry S?
How much is Goodwill?
Ehat is the consolidated balance for Total assets?
On January 1, 2018, Access IT Company exchanged $1,000,000 for 40 percent of the outstanding voting stock of Net Connect. Especially attractive to Access IT was a research project underway at Net Connect that would enhance both the speed and quantity of client- accessible data. Although not recorded in Net Connect's financial records, the fair value of the research project was considered to be $1,960,000 In contractual agreements with the sole owner of the remaining 60 percent of Net Connect, Access IT was granted (1) various decision-making rights over Net Connect's operating decisions and (2) special service purchase provisions at below market rates. As a result of these contractual agreements, Access IT established itself as the primary beneficiary of Net Connect Immediately after the purchase, Access IT and Net Connect presented the following balance sheets: Net Connect $ 41,000 Access IT $ 61,000 1,000,000 981.000 1,066,000 916,000 Cash.. Investment in Net Connect .. Capitalized software.......... Computer equipment............ Communications equipment...... Patent ..... Total assets ................... Long-term debt Common stock-Access IT ........ Common stock-Net Connect .... Retained earnings...... Total liabilities and equity... 156,000 56,000 336,000 191,000 $ 780,000 (616,000) $ 4,024,000 (941,000) (2,660,000) (423,000) $(4.024.000 (41,000) (123.000) ${780,000 Each of the above amounts represents a fair value at January 1, 2018. The fair value of the 60 percent of Net Connect shares not owned by Access IT was $1,500,000. Prepare an acquisition date consolidation worksheet for Access IT and its variable interest entity. On January 1, 2018, Access IT Company exchanged $1,000,000 for 40 percent of the outstanding voting stock of Net Connect. Especially attractive to Access IT was a research project underway at Net Connect that would enhance both the speed and quantity of client- accessible data. Although not recorded in Net Connect's financial records, the fair value of the research project was considered to be $1,960,000 In contractual agreements with the sole owner of the remaining 60 percent of Net Connect, Access IT was granted (1) various decision-making rights over Net Connect's operating decisions and (2) special service purchase provisions at below market rates. As a result of these contractual agreements, Access IT established itself as the primary beneficiary of Net Connect Immediately after the purchase, Access IT and Net Connect presented the following balance sheets: Net Connect $ 41,000 Access IT $ 61,000 1,000,000 981.000 1,066,000 916,000 Cash.. Investment in Net Connect .. Capitalized software.......... Computer equipment............ Communications equipment...... Patent ..... Total assets ................... Long-term debt Common stock-Access IT ........ Common stock-Net Connect .... Retained earnings...... Total liabilities and equity... 156,000 56,000 336,000 191,000 $ 780,000 (616,000) $ 4,024,000 (941,000) (2,660,000) (423,000) $(4.024.000 (41,000) (123.000) ${780,000 Each of the above amounts represents a fair value at January 1, 2018. The fair value of the 60 percent of Net Connect shares not owned by Access IT was $1,500,000. Prepare an acquisition date consolidation worksheet for Access IT and its variable interest entity
