Expert answer:Advanced Accounting assignment
Solved by verified expert:Using the data in the Option 2 Spreadsheet (linked at the bottom of the page), you are to:Provide the journal entry to record the asset transferCalculate the amount of goodwill or bargain purchase.Requirements:Complete all work on the spreadsheet attached to this assignment. It will be your only deliverable.Clearly identify the requirements being addressed. Show all calculations within the cells of an Excel spreadsheet. This means that you must use formulas and links so that the thought process can be examined. Make good use of comments to convey your thought process as well. No hard coding of solutions. Submit a single MS Excel file for grading.Review the grading rubric to understand how you will be graded on this assignment. Reach out to your instructor if you have questions about the assignment.
act470_studenttemplate_ct_mod01_opt2.xlsx
Unformatted Attachment Preview
Assume that Parent Company decides to acquire Sub C
Assets, Liabilities & Equities
Cash
AR
Inventory
Land
Plant and Equipment
Less: Accumulated Depreciation
Goodwill
Patent
Total Assets
AP
Common Stock
Additional Paid In Capital
Retained Earnings
Total Liabilities & Equity
Sub Company Balance Sheet
Book Value
$40,000
$15,000
$105,000
$60,000
$400,000
-$150,000
$10,000
Fair Value
$40,000
$10,000
$200,000
$100,000
$300,000
$0
$480,000
$50,000
$100,000
$60,000
$270,000
$480,000
$0
$650,000
$50,000
Assume that Parent Company decides to acquire Sub C
Assets, Liabilities & Equities
Cash
AR
Inventory
Land
Plant and Equipment
Less: Accumulated Depreciation
Goodwill
Patent
Total Assets
AP
Common Stock
Additional Paid In Capital
Retained Earnings
Total Liabilities & Equity
Sub Company Balance Sheet
Book Value
$40,000
$15,000
$105,000
$60,000
$400,000
-$150,000
$10,000
Fair Value
$40,000
$10,000
$200,000
$100,000
$300,000
$0
$480,000
$50,000
$100,000
$60,000
$270,000
$480,000
$0
$650,000
$50,000
Assume that Parent Company decides to acquire Sub C
Assets, Liabilities & Equities
Cash
AR
Inventory
Land
Sub Company Balance Sheet
Book Value
$40,000
$15,000
$105,000
$60,000
Fair Value
$40,000
$10,000
$200,000
$100,000
Plant and Equipment
Less: Accumulated Depreciation
Goodwill
Patent
Total Assets
AP
Common Stock
Additional Paid In Capital
Retained Earnings
Total Liabilities & Equity
$400,000
-$150,000
$10,000
$300,000
$0
$480,000
$50,000
$100,000
$60,000
$270,000
$480,000
$0
$650,000
$50,000
decides to acquire Sub Company for $564,000 of debentures
Prepare the consolidating journal entries for a 100% Asset Acquisition
Account
Amount
DR
decides to acquire Sub Company for $580,000 of debentures
Prepare the consolidating journal entries for a 100% Asset Acquisition
Account
Amount
DR
decides to acquire Sub Company for $625,000 of debentures
Prepare the consolidating journal entries for a 100% Asset Acquisition (using Cash)
Account
Amount
DR
tion
CR
tion
CR
sing Cash)
CR
…
Purchase answer to see full
attachment
How it works
- Paste your instructions in the instructions box. You can also attach an instructions file
- Select the writer category, deadline, education level and review the instructions
- Make a payment for the order to be assignment to a writer
- Download the paper after the writer uploads it
Will the writer plagiarize my essay?
You will get a plagiarism-free paper and you can get an originality report upon request.
Is this service safe?
All the personal information is confidential and we have 100% safe payment methods. We also guarantee good grades