Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

not right answer. pls give me right one Company acquires 80% of Demers Company for $500.000 on January 2010 Demers reported common stock of $300,000

image text in transcribed
not right answer. pls give me right one
Company acquires 80% of Demers Company for $500.000 on January 2010 Demers reported common stock of $300,000 and retained earnings of $20,000 on that date Equipment was underved by $30,000 and buildings were undervalued by $40,000 each having a 10 year remaining it. Any excess consideration transferred over for value was true to goodwill with an indefinite life. Based on an annual review, goodwill has not been impaired Demens com income and pays dividends as follows: 2010 2021 Net $100.000 $120.000 $130,000 income Dividends 40.000 50,000 60,000 Assume the initial value method is applied Compute the concentrating interest in the net income of Demers at December 31, 2021 Ma Choc 52400 1000 16.000 520.400

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Information For Decision Making Readings In Cost And Managerial Accounting

Authors: Alfred Rappaport

2nd Edition

0134643887, 978-0134643885

More Books

Students also viewed these Accounting questions

Question

3. What recommendations would you make to Sunspot management?

Answered: 1 week ago

Question

a. What department offers the course?

Answered: 1 week ago

Question

A 300N F 30% d 2 m Answered: 1 week ago

Answered: 1 week ago

Question

Can you see what limitations your purpose imposes on your strategy?

Answered: 1 week ago