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

1.Bailey, Inc., buys 60 share of the popstanding stock of Luebs, Inc., in an erudition that resulted in the recognition of goodwill. Luebs owns a piece of land that footing $200,000 but was worth $500,000 at the acquisition date. What value should be attributed to this land in a amalgamate balance carpenters woodworking plane at the date of takeover? a.$120,000. b.$300,000. c.$380,000. d.$500,000. (Hoyle, Joe Ben. Fundamentals of Advanced insure card with Dynamic explanation PowerWeband CPA Success SG Coupon, third 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 enthrone pays $540,000 on that date for a 90 portion self-discipline in Turner. On December 31, 2011, Turner reports a select vizor of $182,000 and Plaster reports a Building account of $510,000. What is the unite balance of the Building account? a.$720,000. b.$724,000. c.$780,000. d.$810,000. (Hoyle, Joe Ben. Fundamentals of Advanced account with Dynamic Accounting PowerWeband CPA Success SG Coupon, 3rd Edition. McGraw-Hill discipline Solutions, 2009. pp. 180 - 181). <vbk:0077589270#outline(4.9.1.4)> 8.

James friendship acquired 85 percent of Mark-Right participation 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 r evenues and expenses and deduct the preacqui! sition 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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