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Please help with letters D-F , I cannot get the correct amounts Slim Corporation's balance sheet at January 1, 20x7, reflected the following balances Assets
Please help with letters D-F , I cannot get the correct amounts
Slim Corporation's balance sheet at January 1, 20x7, reflected the following balances Assets Cash & Receivables Inventory Land Buildings & Equipment (net) Liabilities & Stockholders' Equity $ 39,000 41,000 254,000 243,000 193,000 $ 82,000 Accounts Payable 120,000 Income Taxes Payable 79,000 Bonds Payable 489,000 Common Stock Retained Earnings Total Assets $ 770,000 Total Liabilities & Stockholders' Equity $770,000 Ford Corporation entered into an active acquisition program and acquired 80 percent of Slim's common stock on January 2, 20X7, for $456,000. The fair value of the noncontrolling interest at that date was determined to be $114,000. A careful review of the fair value of Slim's assets and liabilities indicated the following Inventory Land Buildings & Equipment (net) Book Value Fair Value $120,000 $140,000 69,000 489,000 557,000 79,000 Goodwill is assigned proportionately to Ford and the noncontrolling shareholders Required Compute the appropriate amount related to Slim to be included in the consolidated balance sheet immediately following the acquisition for each of the following items Amounts S 140,000 S 69,000 557,000 a. Inventory b. Land c. Buildings and equipment (net) d. Goodwill e. Investment in Slim Corporation f. Noncontrolling interestStep by Step Solution
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