What amount of retained earnings will pack report

Assignment Help Finance Basics

Reference no: EM131792123

Question: On January 1, 2014, Pack Corp. purchased all of Slam Corp.'s common stock for $500,000. On that date, the fair values of Slam's net assets equaled their book values of $400,000. During 2014, Slam paid cash dividends of $8,000. The following balance sheet and income statement accounts are reported on Pack and Slam's separate financial statements at December 31, 2014:

Required: What amount of retained earnings will Pack report in its December 31, 2014, consolidated balance sheet?

Reference no: EM131792123

Questions Cloud

Prepare the closing journal entries for norton cinema : At March 31, account balances after adjustments for Norton Cinema are as follows: Prepare the closing journal entries for Norton Cinema

Identify the individual and their position within company : Interpret the individual's leadership style based on the Five-Factor personality model, and offer one or more examples of the management.

Discuss an expert witness for a recently accepted engagement : an expert witness for a recently accepted engagement. What factors would you consider in deciding whether to accept an engagement

Difference between job description and job specification : What is the difference between a job description and a job specification? Explain why reading and writing integration is vital across all content areas.

What amount of retained earnings will pack report : What amount of retained earnings will Pack report in its December 31, 2014, consolidated balance sheet?

What is claire annettes recognized gain or loss on this sale : Claire Annette's realtor also charged her $32,000 in sales commissions. What is Claire Annette's recognized gain or loss on this sale

How can a marketer use the results in its marketing : Assess the implications. How can a marketer use the results in its marketing communications plan?

Identify symptoms of a lack of internal control : Identify the limitations of the internal control system. Provide at least 3 limitations. Identify symptoms of a lack of internal control

Discuss ethical ramification for acquisition process involve : Your paper should review the process and discuss the ethical ramifications for those involved in the acquisition process in the Department of Defense.

User Account

All Pages