Prepare a consolidation worksheet for shark and fish

Assignment Help Financial Accounting

Reference no: EM131148630

Shark Company purchased 70% interest in Fish Company on July 1, 2014. Consideration for the transaction was $791,875 cash. At the time of the purchase, the remaining shares of Fish (30% percent) were owned by various parties worth $339,375.

At the time of the acquisition, the excess of $124,500 was allocated to the patent not recorded on Fish's financial records. The patent is expected to a have remaining life of 5 years. All other excess was allocated to goodwill.

Use the Assessment 2 Template to prepare a consolidation worksheet for Shark and Fish for the year ending December 31, 2014.

Notes for the completion of the worksheet:
• Fish's income was earned evenly throughout the year.
• Fish pays dividends on a quarterly basis.
• There is no significant change in the trading price in Fish's stock.

Attachment:- _Excel-Spreadsheet-.xlsx

Reference no: EM131148630

Questions Cloud

What is the monthly total cost equation : razier Manufacturing Company collected the following production data for the past month:- If the high-low method is used, what is the monthly total cost equation?

What would you expect to happen to the yield to maturity : Based on the material you learn in this Phase, what would you expect to happen to the yield to maturity and market value of the bonds if the time to maturity was increased or decreased by 5 years

Develop a work breakdown structure for the project : Evaluate the four projects by preparing a weighted decision matrix using the template provided. Develop at least four criteria, assign weights to each criterion, assign scores, and then calculate the weighted scores. Write a one-page paper that de..

The purpose motivating regulators to impose interest ceiling : What was the purpose motivating regulators to impose interest ceilings on bank savings accounts? What effect did this eventually have on the money markets?

Prepare a consolidation worksheet for shark and fish : Shark Company purchased 70% interest in Fish Company on July 1, 2014.- prepare a consolidation worksheet for Shark and Fish for the year ending December 31, 2014.

What business benefits were derived from adopting : Was an ERP system associated with the business-process re-engineering? What business benefits were derived from adopting "best practices"?

What conditions is each type appropriate : Explain the differences between the various types of purchasing organizations. Under what conditions is each type appropriate. Please ensure that your original response is at least 200 words and is supported with references.

What is your t-value for the slope : What is your t-value for the slope? Do you conclude that there is no significant relationship between the two variables or do you conclude that there is a significant relationship between the variables?

Discuss positive consequences of each of three strengths : Discuss the plans, procedures, or other documents that were in place before the disaster in the General Information section of the template. Summarize what occurred during the response in the scenario in the General Information section of the temp..

User Account

All Pages