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Please solve all the problem Allen Company acquired 100 percent of Bradford Company's voting stock on January 1, 2017, by issuing 10,000 shares of its

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Please solve all the problem

Allen Company acquired 100 percent of Bradford Company's voting stock on January 1, 2017, by issuing 10,000 shares of its $10 par value common stock (having a fair value of $18.00 per share). As of that date, Bradford had stockholders' equity totaling $126,000. Land shown on Bradford's accounting records was undervalued by $11,800. Equipment (with a five-year remaining life) was undervalued by $8,400. A secret formula developed by Bradford was appraised at $33,800 with an estimated life of 20 years. The following are the separate financial statements for the two companies for the year ending December 31, 2021. There were no intra-entity payables on that date. Credit balances are indicated by parentheses. Bradford Company $ (248,750) 93,500 79,500 Revenues Cost of goods sold Depreciation expense Subsidiary earnings Net income Retained earnings, 1/1/21 Net income (above) Dividends declared Retained earnings ,12/31/21 Current assets Investment in Bradford Company Land Buildings and equipment (net) Allen Company $ (539,000) 178,000 175,500 (72,380) $ (257,880) $ (754,000) (257,880) 175,500 $ (836,380) $ 304,000 241,400 $ (75,750) $ (103,500) (75,750) 40,000 $ (139,250) $ 85,000 570,000 830,000 80,100 244,000 Bradford Company $ (248,750) 93,500 79,500 Revenues Cost of goods sold Depreciation expense Subsidiary earnings Net income Retained earnings, 1/1/21 Net income (above) Dividends declared Retained earnings ,12/31/21 Current assets Investment in Bradford Company Land Buildings and equipment (net) Total assets Current liabilities Common stock Additional paid-in capital Retained earnings, 12/31/21 Total liabilities and equity Allen Company $ (539,000) 178,000 175,500 (72,380) $ (257,880) $ (754,000) (257,880) 175,500 $ (836, 380) $ 304,000 241,400 $ (75,750) $ (103,500) (75,750) 40,000 $ (139,250) $ 85,000 570,000 830,000 $ 1,945,400 $ (419,020) (600,000) (90,000) (836, 380) $(1,945,400) 80,100 244,000 $ 409,100 $ (204,850) (60,000) (5,000) (139,250) $ (409,100) a-1. Complete the table to show the allocation of the fair value in excess of book value. a-2. Complete the table to show the computation for Subsidiary Earnings. b. Complete the worksheet by consolidating the financial information for these two companies. Complete this question by entering your answers in the tabs below. Req A1 Req A2 Req B Complete the table to show the allocation of the fair value in excess of book value. Accounts Amount Life Annual Excess Amortizations years years years years years 0 $ 0 Total $ a-1. Complete the table to show the allocation of the fair value in excess of book value. a-2. Complete the table to show the computation for Subsidiary Earnings. b. Complete the worksheet by consolidating the financial information for these two companies. Complete this question by entering your answers in the tabs below. Req A1 Req A2 Req B Complete the table to show the computation for Subsidiary Earnings. (Negative amounts should be indicated by a minus sign.) h Amounts Equity earnings $ 0 Req A1 Req A2 0000000000 Req B Complete the worksheet by consolidating the financial information for these two companies. (For accounts where multiple consolidation entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet. Amounts in the Debit and Credit columns should be entered as positive. Input all amounts as positive values.) Show less A ALLEN AND SUBSIDIARY Consolidation Worksheet For Year Ending December 31, 2021 Consolidation Entries Accounts Allen Co. Bradford Co. Debit Credit Consolidated Totals Income Statement $ Revenues Cost of goods sold Depreciation expense Amortization expense Equity in subsidiary earnings (539,000) $ 178,000 175,500 (248,750) 93,500 79,500 0 0 (72,380) 0 Not innoma 1957 880 775 750 ALLEN AND SUBSIDIARY Consolidation Worksheet For Year Ending December 31, 2021 Consolidation Entries Accounts Allen Co. Bradford Co. Debit Credit Consolidated Totals Income Statement Revenues $ $ (539,000) 178,000 175,500 (248,750) 93,500 79,500 Cost of goods sold Depreciation expense Amortization expense Equity in subsidiary earnings Net income 0 0 0 (72,380) (257,880) $ $ (75,750) Statement of Retained Earnings Retained earnings 1/1 Net income (above) (754,000) (257,880) 175,500 (836,380) (103,500) (75,750) 40,000 (139,250) Dividends declared Retained earnings 12/31 $ $ Statement of Retained Earnings Retained earnings 1/1 Net income (above) Dividends declared Retained earnings 12/31 (754,000) (257,880) 175,500 (836,380) $ (103,500) (75,750) 40,000 (139,250) $ Balance Sheet Current assets $ $ 85,000 Investment in Bradford Co. 0 304,000 241,400 570,000 830,000 Land 80,100 244,000 Buildings and equipment (net) Formula 0 0 Total assets $ 1,945,400 $ 409,100 Current liabilities Common stock Additional paid-in capital Retained earnings 12/31 Total liabilities and equity (419,020) (600,000) (90,000) (836,380) $ (1,945,400) (204,850) (60,000) (5,000) (139,250) (409,100) $ $ 0 $ 0

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