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will thumbs up (1) Owners' equities for both companies before business combination, January 1, 2x01. Adelphi Scott Common Stocks (beg. of year) 100,000 10,000 APIC
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(1) Owners' equities for both companies before business combination, January 1, 2x01. Adelphi Scott Common Stocks (beg. of year) 100,000 10,000 APIC (beg. of year) 1,200,000 45,000 Retain Earnings (beg. of year) 1,900,000 80,000 (2) Income statements and dividends declared for both companies for 20x1 and 20x2 20x1 20x2 Revenues Adelphi Scott Adelphi Scott 600,000 230,000 700,000 280,000 440,000 120,000 460,000 150,000 Expenses Investment ? 0 ? 0 Income 80,000 50,000 90,000 40,000 Dividends Declared Adelphi and Scott reported $100,000 and $50,000 amortization expenses relating to their patent technology in 20x2. What is the amount of consolidated amortization expenses in 20x2? Select one: a. $150,000. b. $142,000. c. $154,000. d. $146,000. ** Same information as above ** What is the amount of consolidated retained earnings as of December 31, 20x2? Select one: a. $2,360,000. b. $2,310,000. c. $2,280,000. d. $2,130,000. ** Same information as above ** What is the amount of Investment on Scott reported by Adelphi Corp. in consolidated balance sheet as of December 31, 20x2? Select one: a. Some other amount. b. $0. c. $370,000. d. $410,000Step by Step Solution
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