Submitted 90/90 Total points awarded Help Required information SB On January 1, 20X4, Plimsol Company... On January 1, 20X4. Plimsol Company acquired 100 percent of Shipping Corporation's voting shares, at underlying book value. Plimsol accounts for its investment in Shipping at cost. Shipping's retained earnings was $75,000 on the date of acquisition. On December 31, 20x4, the trial balance data for the two companies are as follows: Item Plimsol co Shipping Corp Debit Credit Debit Current Assets Credit $100,000 Depreciable Assets (net) $ 75,000 200,000 150,000 Investment in Shipping Corp. 125,000 Other Expenses 60,000 Depreciation Expense 45,000 20,000 Dividends Declared 15,000 25,000 15,000 Current Liabilities 5.40.000 $ 25,000 Lo em Debt 75.000 50,000 Common Stock 100,000 50,000 Betained Earnings 150.000 75,000 Sales 150,000 100,000 Dividend The Shipping Corp. 15.000 3530,000 $530,000 $300,000 $300,000 TB MC Qu. 02-41 Based on the information provided, what... Based on the information provided what amount of total assets will be reported in the consolidated balance sheet prepared on December 31, 20X4? Multiple Choice submitted 90/90 Total points awarded Hele Required information SB On January 1, 20X4, Plimsol Company... On January 1, 2024. Plimsol Company acquired 100 percent of Shipping Corporation's voting shares, at underlying book value. Plimsol accounts for its investment in Shipping at cost. Shipping's retained earnings was $75,000 on the date of acquisition. On December 31, 20X4, the trial balance data for the two companies are as follows: Plimsol co. Shipping Corp. Item Debit Credit Debit Current Assets Credit $100,000 Depreciable sets (net) $ 75,000 200,000 Investment in shipping Corp. 150,000 125.000 Other Expenses 60,000 Depreciation Expense 45,000 20,000 15,000 Dividends Declared 25,000 Current Liabilities 15.000 5.40.000 $ 25,000 Lo er Debt 75.000 50,000 Common Stock 100,000 30,000 hatained Taring 150,000 75,000 Sales 150,000 200,000 Dividend Theo, Shipping Corp. 15.000 3530,000 $530,000 $300,000 $300,000 TB MC Qu. 02-41 Based on the information provided, what... Based on the information provided what amount of total assets will be reported in the consolidated balance sheet prepared on December 31, 20X4? Mumple Choice U/90 Total points awardes 0 Required Information TB MC Qu. 02-41 Based on the information provided, what... Based on the information provided what amount of total assets will be reported in the consolidated balance sheet prepared on December 31, 20%- Multiple Choice $425.000 $525.000 $650.000 5630,000
