During 2021, Carla Vista Company purchased the net assets of Sandhill Corporation for $2219800. On the date of the transaction, Sandhill had $605400 of liabilities. The fair value of Sandhill's assets when acquired were as follows: Current assets $1089720 Noncurrent assets   2542680   $3632400 How should the $807200 difference between the fair value of the net assets acquired ($3027000) and the cost ($2219800) be accounted for by Carla Vista?

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Q: On May 28, 2021, Pesky Corporation acquired all of the outstanding common stock of Harman, Inc., for…

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Q: On January 1, 2020, MANNCorp. has an investment property that was carried at fair value with a…

A: 1 There will be no journal entry for these transfers but changes in disclosures would be made

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A: This is a multiple question and we find out adjusting carrying values of land on different dates:

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Q: On December 1, 2021, CAF Corporation declared equipment as a property dividend payable on January…

A: Dividends are the share of profits which is being divided to shareholders in order of cash, stock or…

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Q: ABC Corp purchased 95% of the stock of DEF Company on January 2021. On that date, the book value of…

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A: Any sort of income that is taxed at regular rates is referred to as ordinary income.Salaries,…

Q: On April 1, 2021, BBC Co. acquired a 30% stake in LTI Inc. for $ 100,000. This amount includes $…

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Q: Shak Company acquired a financial instrument for P4,000.000 on March 31, 2020. The financial…

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A: Formulas:

Q: On May 28, 2021, Pesky Corporation acquired all of the outstanding common stock of Harman, Inc., for…

A:

Q: During 2021, Carla Vista Company purchased the net assets of Martinez Corporation for $219560O. On…

A: Gain on bargain purchase = Fair value of net assets acquired  - Purchase consideration for business…

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A: Consolidation worksheet: It is a tool used to determine the final values of each item in both…

Q: On July 1, 2019, CaviteCorporation purchased 40% of the outstanding ordinary shares of another…

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Q: In the year ended June 30 2021, Lorelai Ltd, a reporting entity, acquired the assets and assumed the…

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A: Since you have asked multiple questions, we will solve the first question for you . If you want any…

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A: Property Dividend: It is  the dividend paid by company  other than cash or stock dividends.

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A:

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Q: Renata Corporation purchased equipment in 2019 for $366,400 and has taken $164,880 of regular MACRS…

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A: Carrying amount of company PPE = P5000000 Fair value less cost to sell on June 30 2020 =…

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A:

Q: During 2019, Quill Corporation, a calendar year C corporation, sold the following business assets on…

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Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.