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Please can you help me with- consolidated balances for Buildings account $. and part D investment income and E retained earnings Thankyou Return to ques
Please can you help me with- consolidated balances for Buildings account $. and part D investment income and E retained earnings Thankyou
Return to ques Foxx Corporation acquired all of Greenburg Company's outstanding stock on January 1, 2016, for $776,000 cash. Greenburg's accounting records showed net assets on that date of $555,000, although equipment with a 10 year life w undervalued on the records by $171,000. Any recognized goodwill is considered to have an indefinite life Greenburg reports net income in 2016 of $95,500 and $132.500 in 2017. The subsidiary declared dividends of $20,000 each of these two years. Account balances for the year ending December 31, 2018, follow. Credit balances are indicated by parentheses. Greenburg s (816,000) (840,000) 210,000 442,000 Foxx Revenues Cost of goods sold Depreciation expense Investment income 102,000 490,000 (20,000) Net income (244,000) (188,000) Retained earnings, 1/1/18 Net income Dividends declared $(1,178,000) (244,000) 120,000 (332,000) (188,000) 20,000 Retained earnings, 12/31/18 $(1,302,000) (500,000) Current assets Investment in subsidiary Equipment (net) Buildings (net) Land $398,000 125, 000 776,000 1,024, 000 730,000 428,000 912,000 718,000 68000 3,828,00014500 $(1,626,000) (651,000) Total assets Liabilities Common stock (900,000) (300,000) Prev1 of 1 Next> can Step by Step Solution
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