User Account

All Pages

What is the consolidated balance for the equipment account

Assignment Help Accounting Basics
Reference no: EM131997589

Question - Parrett Corp. acquired one hundred percent of Jones Inc. on January 1, 2011, at a price in excess of the subsidiary's fair value. On that date, Parrett's equipment (ten-year life) had a book value of $360,000 but a fair value of $480,000. Jones had equipment (ten-year life) with a book value of $240,000 and a fair value of $350,000. Parrett used the partial equity method to record its investment in Jones. On December 31, 2013, Parrett had equipment with a book value of $250,000 and a fair value of $400,000. Jones had equipment with a book value of $170,000 and a fair value of $320,000. What is the consolidated balance for the Equipment account as of December 31, 2013?

A. $387,000

B. $487,000

C. $508,000

D. $587,000

E. $537,000

Reference no: EM131997589

Questions Cloud

What is the core idea behind electoral realignment theory : What evidence do political scientists have that an electoral realignment has occurred? What are the weaknesses of realignment theory?
Calculate the net benefit to hp of outsourcing : Question - Outsourcing (Make-or-Buy) Decision - Calculate the net benefit (cost) to HP of outsourcing the component from Samina-SCI
Tension between the united states and soviet union : Which of the following is the name for the period of international tension between the United States and Soviet Union that occurred after World War II,
Consider the concept of economic treaties : In considering the international realm, let's consider the concept of economic treaties. Specifically, let's think about an organization like the Eutopean Union
What is the consolidated balance for the equipment account : Jones had equipment with a book value of $170,000 and a fair value of $320,000. What is the consolidated balance for the Equipment account
Changes for social security and medicare benefits : Describe key policies that the U.S. government could implement in order to ensure positive changes for Social Security and Medicare benefits based
Determine elizabeth taxable income : Elizabeth, a single taxpayer with two dependent children, has the following items of income and expense during 2014: Determine Elizabeth's taxable income
Objectionable about the classical view of the state : What does st Augustine find objectionable about the classical view of the state? How does his own view differ from the classical view?
What could the effect be on the uk : If the European Union is such a good treaty and beneficial to the member countries, why did the United Kindom (England, etc) vote to exist the trea

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd