Cash. Accounts Receivable Inventory Land. Buildings and Equipment.. Less: Accumulated Depreciation. Investment in SS Enterprises Stock. Goodwill. Total Assets. Baby Corporation 60,000.00 90,000.00 120,000.00 70,000.00 340,000.00 (180,000.00) 110,000.00 610,000.00 Mommy Enterprises 35,000.00 50,000.00 90,000.00 50,000.00 220,000.00 (90,000.00) 355,000.00 Consolidated Entity 95,000.00 130,000.00 ? 105,000.00 560,000.00 (270,000.00) 30.000.00 ?
Cash. Accounts Receivable Inventory Land. Buildings and Equipment.. Less: Accumulated Depreciation. Investment in SS Enterprises Stock. Goodwill. Total Assets. Baby Corporation 60,000.00 90,000.00 120,000.00 70,000.00 340,000.00 (180,000.00) 110,000.00 610,000.00 Mommy Enterprises 35,000.00 50,000.00 90,000.00 50,000.00 220,000.00 (90,000.00) 355,000.00 Consolidated Entity 95,000.00 130,000.00 ? 105,000.00 560,000.00 (270,000.00) 30.000.00 ?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Problem 2
At December 31, 20x4, Baby Corporation acquired all of Mommy Enterprises’ common stock.
At that date, the book Values and fair values of Mommy’s identifiable assets and liabilities
were identical. Balance sheet data for the individual companies and the consolidated entity
on January 1, 20x5, are as follows:
1.What balance will be reported as accounts payable in the consolidated balance sheet
a. P10,000
b. P55,000
c. P 75,000
d. P120,000
2. What is the par value of baby common stock outstanding at January 1, 20x5?
a. No-par
b. P30,000
c. P100,000
d. P130,000
Transcribed Image Text:Cash...
Accounts Receivable.
Inventory
Land.
Buildings and Equipment.
Less: Accumulated Depreciation.
Investment in SS Enterprises Stock.
Goodwill
Total Assets.
Baby Corporation Mommy Enterprises
60,000.00
35,000.00
90,000.00
50,000.00
120,000.00
90,000.00
70,000.00
50,000.00
340,000.00
220,000.00
(180,000.00)
(90,000.00)
110,000.00
610,000.00
355,000.00
Consolidated Entity
95,000.00
130,000.00
?
105,000.00
560,000.00
(270,000.00)
30.000.00
?
Transcribed Image Text:Accounts Payable...
Wages Payable.
Notes Payable.
Common Stock...
Retained Earnings..
Total Liabilities and Stockholders' Equity.
75,000.00
30,000.00
250,000.00
?
155,000.00
610,000.00
55,000.00
20,000.00
200,000.00
30,000.00
50,000.00
355,000.00
?
50,000.00
450,000.00
100,000.00
140,000.00
?
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