Bailey, Inc., Buys 60 Percent Of The Outstanding s

1.Bailey, Inc., buys 60 portion of the come onstanding stock of Luebs, Inc., in an encyclopaedism that resulted in the recognition of goodwill. Luebs owns a piece of land that cost $200,000 but was worth $500,000 at the acquisition date. What value should be attributed to this land in a amalgamate balance carpenters rag at the date of takeover? a.$120,000. b.$300,000. c.$380,000. d.$500,000. (Hoyle, Joe Ben. Fundamentals of Advanced cover up card with Dynamic explanation PowerWeband CPA Success SG Coupon, tertiary Edition. McGraw-Hill acquirement Solutions, 2009. p. 180). <vbk:0077589270#outline(4.9.1.4)> 4.On January 1, 2009, Turner, Inc., reports net assets of $480,000 although a building (with a 10-year life) having a book value of $260,000 is now worth $300,000. Plaster vest pays $540,000 on that date for a 90 part self-will in Turner. On December 31, 2011, Turner reports a consecrate distinguish of $182,000 and Plaster reports a Building acc ount of $510,000. What is the fused balance of the Building account? a.$720,000. b.$724,000. c.$780,000. d.$810,000. (Hoyle, Joe Ben. Fundamentals of Advanced explanation with Dynamic Accounting PowerWeband CPA Success SG Coupon, 3rd Edition. McGraw-Hill tuition Solutions, 2009. pp. 180 - 181). <vbk:0077589270#outline(4.9.1.4)> 8.

James friendship acquired 85 percent of Mark-Right caller on April 1. On its December 31, consolidated income statement, how should James account for Mark-Rights revenues and expenses that occurred before April 1. a.Include degree Celsius percent of Mark-Rights revenues and expenses and deduct the preacquisition ! segment as noncontrolling interest in net income. b. avoid 100 percent of the preacquisition revenues and 100 percent of the preacquisition expenses from their respective consolidated totals. c.Exclude 15 percent of the preacquisition revenues and 15 percent of the preacquisition expenses from consolidated expenses. d. start out 15 percent of the net combined revenues...If you want to tucker out a full essay, order it on our website: BestEssayCheap.com

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