Advanced Accounting, 8th Edition, 2001 by Dennis M. Bline, Mary L. Fischer, Ted D. Skekel

By Dennis M. Bline, Mary L. Fischer, Ted D. Skekel

Complicated Accounting, 8e deals the main authoritative, conceptually powerful, and entire assurance of complicated accounting issues of any textual content out there. thoroughly up to date to mirror all the newest FASB pronouncements, it really is an exceptional education source for the CPA examination. complex Accounting additionally presents scholars with the instruments they should pursue expert careers in a world economic system. this can be the one textual content out there to make use of the horizontal method of consolidations worksheets, the layout most typically utilized in the enterprise global.

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435,000 400,000 Excess remaining for goodwill, net of tax . . . . . . . . . . . . . . . . 7 . . . . . . . . . . $ 35,000 50,000 Deferred tax liability applicable to goodwill (30% ϫ $50,000) . . . . . . . . . $ (15,000) The journal entry to record the purchase is as follows: Inventory . . . . . . . . . . . . . . . . . . Land . . . . . . . . . . . . . . . . . . . . Building . . . . . . . . . . . . . . . .

Premium on bonds payable . . . . . . . . . . . . . . . . . . . . 100,000 8,429 The premium will be amortized over the remaining 5-year term using either the effective interest or straight-line amortization methods. Had the current interest rate exceeded the original face rate of 8%, the bonds would have a fair value below $100,000, and a discount would result. Lease Agreements Special analysis of the purchase price in a business combination is necessary when the company acquired in a purchase transaction is bound contractually by existing leases as either a lessee or lessor.

Agreed that the value of the goodwill is $35,000. To satisfy the $180,000 net asset value, Expansion issued common stock with a par value of $2 and a fair value of $20. Expansion issued 9,000 shares ($180,000 net asset value Ϭ $20 per share). It is common to state the stock exchange ratio in a business combination. In this example, the ratio would be 9 to 1, or 9,000 Expansion shares for 1,000 Jacobs Company shares. While the negotiation and settlement of the pooling were based on fair values, the recording of the transaction was based on book values.

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