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posted both questions because ive done half the work for both, so please answer all the numbers for the entries for a thumbs up for
posted both questions because ive done half the work for both, so please answer all the numbers for the entries for a thumbs up
for question one there are 6 entries, please insert the numbers for those
question 2 has only two entries so do those
there is a reason why i posted two questions, both are half done already so please complete them
On January 1, 2016, Aronsen Company acquired 80 percent of Siedel Company's outstanding shares. Siedel had a net book value on that date of $660,000: common stock ($10 par value) of $300,000 and retained earnings of $360,000. Aronsen paid $641,600 for this investment. The acquisition date fair value of the 20 percent noncontrolling interest was $160,400. The excess fair value over book value associated with the acquisition was used to increase land by $52,000 and to recognize copyrights (10-year remaining life) at $90,000. Subsequent to the acquisition, Aronsen applied the initial value method to its investment account. In the 2016-2017 period, the subsidiary's retained earnings increased by $260,000. During 2018, Siedel earned income of $96,000 while declaring $36,000 in dividends. Also, at the beginning of 2018, Sledel issued 2,000 new shares of common stock for $54 per share to finance the expansion of its corporate facilities. Aronsen purchased none of these additional shares and therefore recorded no entry Prepare the appropriate 2018 consolidation entries for these two companies. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Debit Credit No Transaction Answer is not complete. Accounts Investment in Siedel Retained earnings (Aronsen) 1 1 2 2 Investment in Sledel Additional paid-in capital (Aronsen) 2 2 Investment in Siedel Additional paid-in capital (Aronsen) 3 3 Common stock (Siedel) Additional paid-in capital (Siedel) Retained earnings (Siedel) Investment in Siedel Noncontrolling interest in Siedel 4 4 Land Copyrights Investment in Siedel Noncontrolling interest in Siedel 5 5 Dividend income Dividends declared 6 6 Amortization expense Copyrights Albuquerque, Inc., acquired 32,000 shares of Marmon Company several years ago for $750,000. At the acquisition date, Marmon reported a book value of $870,000, and Albuquerque assessed the fair value of the noncontrolling interest at $165,000. Any excess of acquisition-date fair value over book value was assigned to broadcast licenses with indefinite lives. Since the acquisition date and until this point, Marmon has issued no additional shares. No impairment has been recognized for the broadcast licenses. At the present time, Marmon reports $950,000 as total stockholders' equity, which is broken down as follows: Common stock ($10 par value) Additional paid-in capital Retained earnings Total $ 400,000 290,000 260,000 $ 950,000 View the following as independent situations: a. & b. Marmon sells 10,000 and 8,000 shares of previously unissued common stock to the public for $32 and $20 per share. Albuquerque purchased none of this stock. What journal entry should Albuquerque make to recognize the impact of this stock transaction? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round your intermediate calculations.) a. & b. Marmon sells 10,000 and 8,000 shares of previously unissued common stock to the public for $32 and $20 per sha Albuquerque purchased none of this stock. What journal entry should Albuquerque make to recognize the impact of transaction? (if no entry is required for a transaction/event, select "No journal entry required" in the first account round your intermediate calculations.) Answer is not complete. Debit Credit General Journal No Transaction 60,000 $ 1 1 60,000 Investment in Marmon Additional paid-in capital 2 N Additional paid-in capital Investment in Marmon On January 1, 2016, Aronsen Company acquired 80 percent of Siedel Company's outstanding shares. Siedel had a net book value on that date of $660,000: common stock ($10 par value) of $300,000 and retained earnings of $360,000. Aronsen paid $641,600 for this investment. The acquisition date fair value of the 20 percent noncontrolling interest was $160,400. The excess fair value over book value associated with the acquisition was used to increase land by $52,000 and to recognize copyrights (10-year remaining life) at $90,000. Subsequent to the acquisition, Aronsen applied the initial value method to its investment account. In the 2016-2017 period, the subsidiary's retained earnings increased by $260,000. During 2018, Siedel earned income of $96,000 while declaring $36,000 in dividends. Also, at the beginning of 2018, Sledel issued 2,000 new shares of common stock for $54 per share to finance the expansion of its corporate facilities. Aronsen purchased none of these additional shares and therefore recorded no entry Prepare the appropriate 2018 consolidation entries for these two companies. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Debit Credit No Transaction Answer is not complete. Accounts Investment in Siedel Retained earnings (Aronsen) 1 1 2 2 Investment in Sledel Additional paid-in capital (Aronsen) 2 2 Investment in Siedel Additional paid-in capital (Aronsen) 3 3 Common stock (Siedel) Additional paid-in capital (Siedel) Retained earnings (Siedel) Investment in Siedel Noncontrolling interest in Siedel 4 4 Land Copyrights Investment in Siedel Noncontrolling interest in Siedel 5 5 Dividend income Dividends declared 6 6 Amortization expense Copyrights Albuquerque, Inc., acquired 32,000 shares of Marmon Company several years ago for $750,000. At the acquisition date, Marmon reported a book value of $870,000, and Albuquerque assessed the fair value of the noncontrolling interest at $165,000. Any excess of acquisition-date fair value over book value was assigned to broadcast licenses with indefinite lives. Since the acquisition date and until this point, Marmon has issued no additional shares. No impairment has been recognized for the broadcast licenses. At the present time, Marmon reports $950,000 as total stockholders' equity, which is broken down as follows: Common stock ($10 par value) Additional paid-in capital Retained earnings Total $ 400,000 290,000 260,000 $ 950,000 View the following as independent situations: a. & b. Marmon sells 10,000 and 8,000 shares of previously unissued common stock to the public for $32 and $20 per share. Albuquerque purchased none of this stock. What journal entry should Albuquerque make to recognize the impact of this stock transaction? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round your intermediate calculations.) a. & b. Marmon sells 10,000 and 8,000 shares of previously unissued common stock to the public for $32 and $20 per sha Albuquerque purchased none of this stock. What journal entry should Albuquerque make to recognize the impact of transaction? (if no entry is required for a transaction/event, select "No journal entry required" in the first account round your intermediate calculations.) Answer is not complete. Debit Credit General Journal No Transaction 60,000 $ 1 1 60,000 Investment in Marmon Additional paid-in capital 2 N Additional paid-in capital Investment in Marmon Step by Step Solution
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