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Please provide steps for your calculations - thank you so much! - - - - - - - - Miller Company acquired an 8 0
Please provide steps for your calculations thank you so much! Miller Company acquired an percent interest in Taylor Company on January Miller paid $ in cash to the owners of Taylor to acquire these shares. In addition, the remaining percent of Taylor shares continued to trade at a total value of $ both before and after Millers acquisition.
On January Taylor reported a book value of $Common Stock $; Additional PaidIn Capital $; Retained Earnings $ Several of Taylors buildings that had a remaining life of years were undervalued by a total of $
During the next three years, Taylor reports income and declares dividends as follows:
Year Net Income Dividends
$ $
Determine the appropriate answers for each of the following questions:
A What amount of excess depreciation expense should be recognized in the consolidated financial statements for the initial years following this acquisition?
B If a consolidated balance sheet is prepared as of January what amount of goodwill should be recognized?
C If a consolidation worksheet is prepared as of January what Entry S and Entry A should be included?
D On the separate financial records of the parent company, what amount of investment income would be reported for under each of the following accounting methods?
The equity method.
The partial equity method.
The initial value method.
E On the parent companys separate financial records, what would be the December balance for the Investment in Taylor Company account under each of the following accounting methods?
The equity method.
The partial equity method.
The initial value method.. As of December Millers Buildings account on its separate records has a balance of $ and Taylor has a similar account with a $ balance. G What is the consolidated balance for the Buildings account?
G What is the balance of consolidated goodwill as of December
H Assume that the parent company has been applying the equity method to this investment. On December the separate financial statements for the two companies present the following information:
Miller Company Taylor Company
Common stock $ $
Additional paidin capital
Retained earnings,
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