Business, 14.12.2021 04:20 PresleyPie2700

Following are selected accounts for Green Corporation and Vega Company as of December 31, 2020. Several of Green's accounts have been omitted. Green Vega
Revenues$900,000 $500,000
Cost of goods sold 360,000 200,000
Depreciation expense 140,000 40,000
Other expenses 100,000 60,000
Equity in Vegaâ€™s income ?
Retained earnings, 1/1/2020 1,350,000 1,200,000
Dividends 195,000 80,000
Current assets 300,000 1,380,000
Land 450,000 180,000
Building (net) 750,000 280,000
Equipment (net) 300,000 500,000
Liabilities 600,000 620,000
Common stock 450,000 80,000
Additional paid-in capital 75,000 320,000
Green acquired 100% of Vega on January 1,2016, by issuing 10,500 shares of its $10 par value common stock with a fair value of $95 per share. On January 1, 2016, Vega's land was undervalued by $40,000, its buildings were overvalued by $30,000, and equipment was undervalued by $80,000. The buildings have a 20-year life and the equipment has a 10-year life. $50,000 was attributed to an unrecorded trademark with a 16-year remaining life. There was no goodwill associated with this investment.

MC Qu. 56 Compute the December 31...

Compute the December 31, 2020, consolidated total expenses.

1) Compute the December 31, 2020, consolidated trademark.

2) Compute the December 31, 2020, consolidated common stock.

3) Compute the December 31, 2020 consolidated retained earnings.

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 20:20

Accounts receivable arising from sales to customers amounted to $40,000 and $55,000 at the beginning and end of the year, respectively. income reported on the income statement for the year was $180,000. exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is

Answers: 2

Answer

Business, 21.06.2019 21:30

White company has two departments, cutting and finishing. the company uses a job-order costing system and computes a predetermined overhead rate in each department. the cutting department bases its rate on machine-hours, and the finishing department bases its rate on direct labor-hours. at the beginning of the year, the company made the following estimates: department cutting finishing direct labor-hours 6,000 30,000 machine-hours 48,000 5,000 total fixed manufacturing overhead cost $ 264,000 $ 366,000 variable manufacturing overhead per machine-hour $ 2.00 " variable manufacturing overhead per direct labor-hour " $ 4.00 required: 1. compute the predetermined overhead rate for each department. 2. the job cost sheet for job 203, which was started and completed during the year, showed the following: department cutting finishing direct labor-hours 6 20 machine-hours 80 4 direct materials $ 500 $ 310 direct labor cost $ 108 $ 360 using the predetermined overhead rates that you computed in requirement (1), compute the total manufacturing cost assigned to job 203. 3. would you expect substantially different amounts of overhead cost to be assigned to some jobs if the company used a plantwide predetermined overhead rate based on direct labor-hours, rather than using departmental rates?

Answers: 3

Answer

Business, 22.06.2019 01:30

What is an example of a good stock to buy during economic expansion? a) cyclical stock b) defensive stock c) income stock d) bond

Answers: 3

Answer

Business, 22.06.2019 04:40

How long have u been on dis website

Answers: 2

Answer

You know the right answer?

Following are selected accounts for Green Corporation and Vega Company as of December 31, 2020. Seve...