subject
Business, 06.12.2019 19:31 Shadow0202

Lo company purchased 85% of the outstanding common stock of serena company on december 31, 20| $310,000 cash. on that date, serena company's stockholders' equity consisted of the following: poco company 14, for common stock other contributed capital retained earnings $240,000 55,000 50,000 $345,000 during 2017, serena company distributed a dividend in the amount of $12,000 and at year-end reporteda net loss of $10,000. during the time that poco company has held its investment in serena company, serena company's retained earnings balance has decreased $29,500 to a net balance of $20.500 after closing on december 31, 2017. serena company did not declare or distribute any dividends in 2015 or 2016. the difference between book value and the value implied by the purchase price relates to goodwill. required: a. assume that poco company uses the equity method. prepare in general journal form the entries needed in the preparation of a consolidated statements workpaper on december 31, 2017. explain why the partial and com- plete equity methods would result in the same entries in this instance. b. assume that poco company uses the cost method. prepare in general journal form the entries needed in the prege ration of a consolidated statements workpaper on december 31,2017 176

ansver
Answers: 2

Another question on Business

question
Business, 21.06.2019 16:30
Collective bargaining provides for a representative of employees to negotiate with a representative of management over labor issues including wages.true or false?
Answers: 3
question
Business, 21.06.2019 21:20
Reqwest llc agrees to sell one hundred servers to social media networks, inc. the servers, which social media networks expressly requires to have certain amounts of memory, are to be shipped “f.o.b. social media networks distribution center in tampa, fl.” when the servers arrive, social media networks rejects them and informs reqwest, claiming that the servers do not conform to social media networks’ memory requirement. a few hours later, the servers are destroyed in a fire at social media networks’ distribution center. will reqwest succeed in a suit against social media networks for the cost of the goods?
Answers: 3
question
Business, 22.06.2019 19:50
Aproduction line has three machines a, b, and c, with reliabilities of .96, .86, and .85, respectively. the machines are arranged so that if one breaks down, the others must shut down. engineers are weighing two alternative designs for increasing the line’s reliability. plan 1 involves adding an identical backup line, and plan 2 involves providing a backup for each machine. in either case, three machines (a, b, and c) would be used with reliabilities equal to the original three. a. compute overall system reliability under plan 1. (round your intermediate calculations and final answer to 4 decimal places.) reliability b. compute overall system reliability under plan 2. (round your intermediate calculations and final answer to 4 decimal places.) reliability c. which plan will provide the higher reliability? plan2plan1
Answers: 3
question
Business, 22.06.2019 21:30
Which of the following best explains the purpose of protectionist trade policies such as tariffs and subsidies? a. they make sure that governments have enough money to pay for fiscal policies. b. they give foreign competitors access to new markets around the world. c. they allow producers to sell their products more cheaply than foreign competitors. d. they enable producers to purchase productive resources from everywhere in the world.
Answers: 1
You know the right answer?
Lo company purchased 85% of the outstanding common stock of serena company on december 31, 20| $310,...
Questions
question
Mathematics, 16.11.2020 20:10
question
Spanish, 16.11.2020 20:10
question
History, 16.11.2020 20:10
question
Mathematics, 16.11.2020 20:10
question
Physics, 16.11.2020 20:10
question
Chemistry, 16.11.2020 20:10