Prepare journal entry, consolidation worksheet, consolidated balance sheet – assignmentcollections.com
Business Finance Assignment Collections – assignmentcollections.com
Consolidated Worksheet and Balance Sheet on the Acquisition Date (Equity Method)Consolidated Worksheet and Balance Sheet on the Acquisition Date (Equity Method)
Peanut Company acquired 90 percent of Snoopy Company’s outstanding common stock for $270,000 on January 1, 20X8, when the book value of Snoopy’s net assets was equal to $300,000. Peanut uses the equity method to account for investments. Trial balance data for Peanut and Snoopy as of January 1, 20X8, are as follows:
|
|
Peanut Company |
Snoopy Company |
|
Assets |
||
|
Cash |
55,000 |
20,000 |
|
Accounts Receivable |
50,000 |
30,000 |
|
Inventory |
100,000 |
60,000 |
|
Investment in Snoopy Stock |
270,000 |
|
|
Land |
225,000 |
100,000 |
|
Buildings & Equipment |
700,000 |
200,000 |
|
Accumulated Depreciation |
(400,000) |
(10,000) |
|
Total Assets |
1,000,000 |
400,000 |
|
Liabilities & Stockholders’ Equity |
||
|
Accounts Payable |
75,000 |
25,000 |
|
Bonds Payable |
200,000 |
75,000 |
|
Common Stock |
500,000 |
200,000 |
|
Retained Earnings |
225,000 |
100,000 |
|
Total Liabilities & Equity |
1,000,000 |
400,000 |
Required:
- Prepare the journal entry on Peanut’s books for the acquisition of Snoopy on January 1, 20X8.
- Prepare a consolidation worksheet on the acquisition date, January 1, 20X8, in good form.
- Prepare a consolidated balance sheet on the acquisition date, January 1, 20X8, in good form.
– assignmentcollections.com
#write essay #research paper #blog writing #article writing #academic writer #reflective paper #essay pro #types of essays #write my essay #reflective essay #paper writer #essay writing service #essay writer free #essay helper #write my paper #assignment writer #write my essay for me #write an essay for me #uk essay #thesis writer #dissertation writing services #writing a research paper #academic essay #dissertation help #easy essay #do my essay #paper writing service #buy essay #essay writing help #essay service #dissertation writing #online essay writer #write my paper for me #types of essay writing #essay writing website #write my essay for free #reflective report #type my essay #thesis writing services #write paper for me #research paper writing service #essay paper #professional essay writers #write my essay online #essay help online #write my research paper #dissertation writing help #websites that write papers for you for free #write my essay for me cheap #pay someone to write my paper #pay someone to write my research paper
#Essaywriting #Academicwriting #Assignmenthelp #Nursingassignment #Nursinghomework #Psychologyassignment #Physicsassignment #Philosophyassignment #Religionassignment #History #Writing #writingtips #Students #universityassignment #onlinewriting #savvyessaywriters #onlineprowriters #assignmentcollection #excelsiorwriters #writinghub #study #exclusivewritings #myassignmentgeek #expertwriters #art #transcription #grammer #college #highschool #StudentsHelpingStudents #studentshirt #StudentShoe #StudentShoes #studentshoponline #studentshopping #studentshouse #StudentShoutout #studentshowcase2017 #StudentsHub #studentsieuczy #StudentsIn #studentsinberlin #studentsinbusiness #StudentsInDubai #studentsininternational
