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On January 1 , 2 0 2 1 , Morey, Inc., exchanged $ 1 7 3 , 7 5 0 for 2 5 percent of
On January Morey, Inc., exchanged $ for percent of Amsterdam Corporation. Morey appropriately applied the equity method to this investment. At January the book values of Amsterdams assets and liabilities approximated their fair values. On June Morey paid $ for an additional percent of Amsterdam, thus increasing its overall ownership to percent. The price paid for the percent acquisition was proportionate to Amsterdams total fair value. At June the carrying amounts of Amsterdams assets and liabilities approximated their fair values. Any remaining excess fair value was attributed to goodwill. Amsterdam reports the following amounts at December credit balances shown in parentheses: Revenues $ Expenses Retained earnings, January Dividends declared, October Common stock Amsterdams revenue and expenses were distributed evenly throughout the year, and no changes in Amsterdams stock have occurred. Using the acquisition method, calculate the acquisitiondate fair value of Amsterdam to be included in Morey's June consolidated financial statements. Using the acquisition method, calculate the revaluation gain or loss reported by Morey for its percent investment in Amsterdam on June Using the acquisition method, calculate the amount of goodwill recognized by Morey on its December consolidated balance sheet assume no impairments have been recognized Using the acquisition method, calculate the noncontrolling interest amount reported by Morey on its June and December consolidated balance sheet.
On January Morey, Inc., exchanged $ for percent of Amsterdam Corporation. Morey appropriately applied the equity method to this investment. At January the book values of Amsterdams assets and liabilities approximated their fair values.
On June Morey paid $ for an additional percent of Amsterdam, thus increasing its overall ownership to percent. The price paid for the percent acquisition was proportionate to Amsterdams total fair value. At June the carrying amounts of Amsterdams assets and liabilities approximated their fair values. Any remaining excess fair value was attributed to goodwill.
Amsterdam reports the following amounts at December credit balances shown in parentheses:
Revenues $
Expenses
Retained earnings, January
Dividends declared, October
Common stock
Amsterdams revenue and expenses were distributed evenly throughout the year, and no changes in Amsterdams stock have occurred.
Using the acquisition method, calculate the acquisitiondate fair value of Amsterdam to be included in Morey's June consolidated financial statements.
Using the acquisition method, calculate the revaluation gain or loss reported by Morey for its percent investment in Amsterdam on June
Using the acquisition method, calculate the amount of goodwill recognized by Morey on its December consolidated balance sheet assume no impairments have been recognized
Using the acquisition method, calculate the noncontrolling interest amount reported by Morey on its June and December consolidated balance sheet.
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