Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Simple-Puzzle First, solve this problem: Puzzle Co. acquires an 80% ownership stake in the voting stock of Simple Co. for $95k. The nbv of

image text in transcribedimage text in transcribed

Simple-Puzzle First, solve this problem: Puzzle Co. acquires an 80% ownership stake in the voting stock of Simple Co. for $95k. The nbv of S is comprised of $55k in CS, $35k in APIC/OCC, and $15k RE. The Balance Sheet of S Co. also shows pre-acquisition GW of $5k, and an I.O.U. payable to P of $13.52 (this was to compensate a parking garage for 1 day parking privileges on merger day; the attorney for S didn't have any cash with him, but the CEO of P said it was ok to let him park in the Company garage). S' net asset book values were the same as their fair values, with the exception of a parcel of Land; the Land was carried on S' books at $180k but was assessed a fmy of $195k at DOA. Any residual differential at DOA is assumed to be an intangible of unknown source. One may wonder...what is P's Sshare of S GW? Now, copy the EDGAR full text search URL below into your browser window: https://www.sec.gov/edgar/search/ Now you are on the SEC website. Under the search window that appears, click on '+ more search options." You will then see 7 windows. You will enter data in 4 of them: Document word or phrase: noncontrolling interest Filing category: All annual, quarterly, and current reports Filed data range: Last year Principal executive offices in: New York You should have many results. How many? (Hint: it is 'roughly' the same number of pennies that S' attorney has to pay the garage attendant in the Simple Puzzle example above. If you have pulled up this many filings, chances are that you haven't screwed up yet.) Scroll down to the bottom, and note that there are indeed many pages to wander through. There are too many pages to search for the firm you need to locate! Yes, you will have to find a filing associated with a particular firm. I will give you a hint. This firm's 10-K is located on a particular page; the page number is the same as P's Sshare of GW in the Simple Puzzle example above. (If you don't get this right, you will not find the right firm!) Your estimate of this amount (the page #) is: Scan this page, and note that some of the forms are type 10-K. Find the 10-K for the fiscal year ending 12/31/2021 for the company headquartered in New York whose name, oddly, means 'something that has been found.' (Makes sense, strangely, in that you are looking for it, no?) What is this company's name?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Libby, Short

6th Edition

978-0071284714, 9780077300333, 71284710, 77300335, 978-0073526881

Students also viewed these Accounting questions