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On January 1 , 2 0 2 3 , Holland Corporation paid $ 8 per share to a group of Zeeland Corporation shareholders to acquire
On January Holland Corporation paid $ per share to a group of Zeeland Corporation shareholders to acquire shares of Zeelands outstanding voting stock, representing a percent ownership interest. The remaining shares of Zeeland continued to trade in the market close to its recent average of $ per share both before and after the acquisition by Holland. Zeelands acquisition date balance sheet follows:Current assets$ Liabilities$ Property and equipment netCommon stockPatentsRetained earnings$ $ On January Holland assessed the carrying amount of Zeelands equipment year remaining life to be undervalued by $ Holland also determined that Zeeland possessed unrecorded patents year remaining life worth $ Zeelands acquisitiondate fair values for its current assets and liabilities were equal to their carrying amounts. Any remaining excess of Zeelands acquisitiondate fair value over its book value was attributed to goodwill.The companies financial statements for the year ending December follow:AccountHollandZeelandSales$ $ Cost of goods soldDepreciation expenseAmortization expenseOther operating expensesEquity in Zeeland earningsSeparate company net income$ $ Retained earnings, $ $ Net incomeDividends declaredRetained earnings, $ $ Current assets$ $ Investment in ZeelandProperty and equipment netPatentsTotal assets$ $ Liabilities$ $ Common stockHollandCommon stockZeelandRetained earnings, Total liabilities and owners' equity$ $ At yearend, there were no intraentity receivables or payables.Required:a Compute the amount of goodwill recognized in Holland's acquisition of Zeeland.a Show the allocation of goodwill to the controlling and noncontrolling interest.b Show how Holland determined its December Investment in Zeeland account balance.c Prepare a worksheet to determine the amounts that should appear on Hollands December consolidated financial statements. PLEASE REFER TO SIMILAR ANSWERS TO SEE THE STRUCTURE OF THE ANSWER I NEED IT IN A CHART FORM THANK YOU SO MUCH WILL BE SURE TO GIVE A THUMBS UP IF CORRECT PLEASE DONT ANSWER IF YOU ARE NOT GONNA ANSWER CORRECTLY OR IN THE RIGHT FORMAT DONT USE AI its usually wrong
On January Holland Corporation paid $ per share to a group of Zeeland Corporation shareholders to acquire shares of Zeelands outstanding voting stock, representing a percent ownership interest. The remaining shares of Zeeland continued to trade in the market close to its recent average of $ per share both before and after the acquisition by Holland. Zeelands acquisition date balance sheet follows:Current assets$ Liabilities$ Property and equipment netCommon stockPatentsRetained earnings$ $ On January Holland assessed the carrying amount of Zeelands equipment year remaining life to be undervalued by $ Holland also determined that Zeeland possessed unrecorded patents year remaining life worth $ Zeelands acquisitiondate fair values for its current assets and liabilities were equal to their carrying amounts. Any remaining excess of Zeelands acquisitiondate fair value over its book value was attributed to goodwill.The companies financial statements for the year ending December follow:AccountHollandZeelandSales$ $ Cost of goods soldDepreciation expenseAmortization expenseOther operating expensesEquity in Zeeland earningsSeparate company net income$ $ Retained earnings, $ $ Net incomeDividends declaredRetained earnings, $ $ Current assets$ $ Investment in ZeelandProperty and equipment netPatentsTotal assets$ $ Liabilities$ $ Common stockHollandCommon stockZeelandRetained earnings, Total liabilities and owners' equity$ $ At yearend, there were no intraentity receivables or payables.Required:a Compute the amount of goodwill recognized in Holland's acquisition of Zeeland.a Show the allocation of goodwill to the controlling and noncontrolling interest.b Show how Holland determined its December Investment in Zeeland account balance.c Prepare a worksheet to determine the amounts that should appear on Hollands December consolidated financial statements.
PLEASE REFER TO SIMILAR ANSWERS TO SEE THE STRUCTURE OF THE ANSWER I NEED IT IN A CHART FORM THANK YOU SO MUCH WILL BE SURE TO GIVE A THUMBS UP IF CORRECT PLEASE DONT ANSWER IF YOU ARE NOT GONNA ANSWER CORRECTLY OR IN THE RIGHT FORMAT DONT USE AI its usually wrong
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