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Question 36 1 Point Delta acquires 100% of Stone for $400 in cash, the fair value of the net assets of Stone is 350, the
Question 36 1 Point Delta acquires 100% of Stone for $400 in cash, the fair value of the net assets of Stone is 350, the Capital stock and Retained earnings for Stone is 200 and 160 respectively and the BV value for the inventory is 60 while the FV is 50, then Delta elimination worksheet entry is A Capital stock debit 200, Retained earnings debit 160, goodwill debit 30, inventory debit 10 and Investment in stone credit 400. B Capital stock debit 200, Retained earnings debit 160, goodwill debit 40, and Investment in stone credit 400.. Capital stock debit 200, Retained earnings debit 160, Goodwill debit 50, Inventory credit 10 and Investment in stone credit 400. None of the other answers. Question 37 1 Point The balance sheet of an Egyptian Co. includes: inventory $10,000, accounts receivable $20,000, Cash $30,000, Equipment $40,000, Accounts payable $10,000, Notes payable $30,000, the current exchange rate $1=SR4, the average exchange rate $1=SR5, the historical exchange rate for inventory $1=SR3, the historical exchange rate for equipment $1=SR2, and the historical exchange rate for notes payable $1=5R6, then the value of total current assets using temporal method (inventory by historical rate) = A) SR 320,000 B SR 240,000 SR 230,000 D None of the other answers
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