User Account

All Pages

Purchased 7 units swish phones from pear technology at 1782

Assignment Help Accounting Basics
Reference no: EM13579645

Although Sloan Company had satisfactory earnings reports in 20X5 and 20X6, it reported a negative retained earnings balance on December 31, 20X6. Jacobs Company purchased 80 percent of Sloan%u2019s common stock on January 1, 20X7.

  • Explain how Sloan%u2019s negative retained earnings balance is reflected in the consolidated balance sheet immediately following the acquisition.
  • Explain how, if at all, the existence of negative retained earnings changes the consolidation workpaper entries prepared by the parent company.
  • Can goodwill exist if Jacobs pays more than book value for Sloan%u2019s shares? Why or why not? Justify your answer using examples and reasoning.

Reference no: EM13579645

Questions Cloud

Robert jones has just rendered service for a taxpayer as an : robert jones has just rendered service for a taxpayer as an expert witness in a case heard by the u. s. tax court. the
The scores on a certain test are normally distributed with : the scores on a certain test are normally distributed with a mean score of 45 and a standard deviation of 3. what is
Crumple car rentals is planning to expand into the western : crumple car rentals is planning to expand into the western part of the u.s. and needs to acquire approximately 400
The initial cash outlay and cash flow projections are : the initial cash outlay and cash flow projections are presented below for new equipment that outdoor sports inc. is
Purchased 7 units swish phones from pear technology at 1782 : although sloan company had satisfactory earnings reports in 20x5 and 20x6 it reported a negative retained earnings
The bottle division has sufficient capacity to meet all : signature scents has two divisions the cologne division and the bottle division. the bottle division produces
What is the probability that in this group between 10 and : it is generally believed that electrical problems affect about 14 of new cars. an automobile mechanic conducts
Develop an estimated regression equation that can be used : develop an estimated regression equation that can be used to predict the buy again rating given based on the steering
If the probabilities of having a male or female child are : if the probabilities of having a male or female child are both 0.50 find the probability that a familys seventh child

Reviews

Write a Review

Accounting Basics Questions & Answers

  Relevancy to the decision about the obsolete parts

Armstrong Corporation manufactures bicycle parts. The company currently has a $19,500 inventory of parts that have become obsolete due to changes in design specifications. The parts could be sold for $7,000 or modified for $10,000 and sold for $2..

  Bergquist company purchased merchandise on account from a

bergquist company purchased merchandise on account from a supplier for 14600 terms 110 n30. bergquist company returned

  Activity rates from quattrone corporations activity-based

activity rates from quattrone corporations activity-based costing system are listed below. the company uses the

  Parrett corp acquired one hundred percent of jones inc on

parrett corp. acquired one hundred percent of jones inc. on january 1 2009 at a price in excess of the subsidiarys fair

  Amount of liability for compensated absences

M estimated that there were 200 vacation days available at December 31, 2009. M's employees earn an average of $150 per day. In its December 31, 2009, balance sheet, what amount of liability for compensated absences is M required to report?

  Gaap for investments in equity securities

Which is not a GAAP for investments in equity securities? a. replacement value method b. market value method c. Equity method d. consolidation

  What type of incentive plan can high-tec offer the employees

What type of incentive plan can High-Tec offer the employees who don't have the cash to exercise stock options?

  A building with an adjusted basis of 300000 is destroyed by

betty whose tax rate is 33 is in the business of breeding and racing horses. except for the transactions below she has

  Angela purchased a car for 30000 by putting 20 down in cash

part a angela purchased a car for 30000 by putting 20 down in cash with the balance due as a note payable. journalize

  Slim corp requires a minimum 8000 cash balance if necessary

slim corp. requires a minimum 8000 cash balance. if necessary loans are taken to meet this requirement at a cost of 1

  Capital asset acquisition

In its Statement of Net Assets, a government reported: Assets of $90 million, including $30 million in capital assets (net) and liabilities of $50 million, including long-term debt of $15 million, all related to capital asset acquisition.

  What would be the expected cost of goods sold for next month

Gemstone Corporation has a sales budget for next month of $600,000. Cost of goods sold is expected to be 30 percent of sales. All goods are purchased in the month used and paid for in the month following purchase.

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