Financial Consolidation Accounting by Homework Help Classof1

Financial Consolidation Accounting

byHomework Help Classof1

Kobo ebook | March 26, 2013

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Crane Mechanics acquired 75 percent of Downey Enterprises on March 31, 2005, for $3,645,000. Downey’s book value at that date totaled $4,000,000. Appraisal values were greater than book values for identifiable assets in the following amounts: Inventory ($300,000) and Plant and Equipment ($700,000). The purchase differential for Inventory is to be amortized over five months and Plant and Equipment over ten years. For the remainder of 2005 Downey reports $635,000 of income and pays $100,000 in dividends. The following balances exist for Crane at December 31, 2005, and Downey at March 31 and December 31, 2005.

Title:Financial Consolidation AccountingFormat:Kobo ebookPublished:March 26, 2013Publisher:Classof1Language:English

The following ISBNs are associated with this title:

ISBN:9990006500943

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