User Account

All Pages

What is the consolidated balance for land and bonds payable

Assignment Help Accounting Basics
Reference no: EM132702827

When Jolt Co. acquired 75% of the common stock of Yelts Corp., Yelts owned land with a book value of $70,000 and a fair value of $100,000. Jolt owned land with a book value of $100,000 and a fair value of $200,000. Yelts owned bonds payable that has a book value of $20,000 and a fair value of $19,000. Jolt owned bonds payable that has a book value of $40,000 and a fair value of $41,000.

Problem 1: After consolidation on acquisition date, what is the consolidated balance for (1) Land and (2) Bonds payable?

Reference no: EM132702827

Questions Cloud

What is the simplified expression : What is the area of this field in terms of x and y and What is the cost of one adult ticket - What is the simplified expression
What is Plum Corporation remaining AMT credit : Plum Corporation has regular income tax liability of $12,500. What is Plum Corporation's remaining AMT credit carryforward after applying the maximum credit
Calculate the amount of accumulated earnings tax : Sugarbush Corporation, an accounting corporation, has accumulated earnings of $340,000, Calculate the amount of accumulated earnings tax
What entry to distribute the shares will require a debit to : The current market price of the shares is? $12 per? share; the average issue price was? $10 per share. The entry to distribute the shares will require a debit
What is the consolidated balance for land and bonds payable : When Jolt Co. acquired 75% of the common stock of Yelts Corp, After consolidation on acquisition date, what is consolidated balance for Land and Bonds payable?
Difference between explicit and tacit knowledge : What is the clash between IT and the dominant business view? What is the difference between explicit and tacit knowledge?
What is the corporation basis in the real estate : Tammy has a business which she decides to incorporate. The stock is worth $125,000. What is the corporation basis in the real estate
What is the risk for the financial statement : Best BMW sells luxury automobiles on Vancouver's posh, What is the risk for the financial statement? What is the account and assertion thats impacted?
What was the amount of dividends paid during the year : What was the amount of dividends paid during the year? At the beginning of the year Zoolander Inc. had total assets of $429,000 and total equity of $183,000.

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: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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