Need help with the followingParent Company purchased an 80 intere.pdf

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Need help with the following Parent Company purchased an 80% interest in Subsidiary Company for $600,000 on January 1, 20XI, when Subsidiary Co had the following balanc sheet. Assets Cash $ 75,000 Inventory 120,000 Land 90,00 Building,net 270,000 Equipment,net 80,000 Total Assets $635,000 Liabilites and Equity Current liabilites $100,000 Common Stock,$5 par 50,000 Paid-in capital in excess par 160,000 Retained earnings 325,000 Total Liabilites an Eqyuity $635,000 The fair values and book values of the identifiable net assets are the same except for the following. Land is understated by $50,000. The building has a fair value of $250,000 and a 20- year remaining life. The equipment has a fair value of $90,000 and a remaining life of 5 years. Any remaining excess is attributed yo good will. From Jan.1 through Dec. 31, 20XI, Sudsidiary Co. had net income of $150,000 and paid $20,000 in dividends. Assume that Parent Co. uses \"the simple equity method\"to record its investments in Sudsidiary Co. A) Using the info above prepare, (1) a Value Analysis Schedule 0n 1/01/XI (2) Determination and Distribution of Excess Schedule on 1/01/XI Solution 1.Value Analysis Schedule 0n 1/01/XI: 2.Determination and Distribution of Excess Schedule on 1/01/XI:AssetsAmounts ($)Cash75,000Inventory120,000Land140,000Building250,000Equipment90,000Total Assets (a)675,000Current Liabilities (b)100,000Net Assets (a)-(b)575,000.

Need help with the following
Parent Company purchased an 80% interest in Subsidiary Company for $600,000 on January 1,
20XI, when Subsidiary Co had the following balanc sheet.
Assets
Cash $ 75,000
Inventory 120,000
Land 90,00
Building,net 270,000
Equipment,net 80,000
Total Assets $635,000
Liabilites and Equity
Current liabilites $100,000
Common Stock,$5 par 50,000
Paid-in capital in excess par 160,000
Retained earnings 325,000
Total Liabilites an Eqyuity $635,000
The fair values and book values of the identifiable net assets are the same except for the
following. Land is understated by $50,000. The building has a fair value of $250,000 and a 20-
year remaining life. The equipment has a fair value of $90,000 and a remaining life of 5 years.
Any remaining excess is attributed yo good will.
From Jan.1 through Dec. 31, 20XI, Sudsidiary Co. had net income of $150,000 and paid $20,000
in dividends.
Assume that Parent Co. uses "the simple equity method"to record its investments in Sudsidiary
Co.
A) Using the info above prepare,
(1) a Value Analysis Schedule 0n 1/01/XI
(2) Determination and Distribution of Excess Schedule on 1/01/XI
Solution
1.Value Analysis Schedule 0n 1/01/XI:
2.Determination and Distribution of Excess Schedule on 1/01/XI:AssetsAmounts
($)Cash75,000Inventory120,000Land140,000Building250,000Equipment90,000Total Assets
(a)675,000Current Liabilities (b)100,000Net Assets (a)-(b)575,000

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Problem 3-2 (LO 2) Simple equity method adjustments, consolidated worksheet. On January 1, 2015, Paro Company purchases 80% of the common stock of Solar Company for $320,000. Solar has common stock, other paid-in capital in excess of par, and retained earnings of$50,000, $100,000, and $150,000, respectively. Net income and dividends for two years for Solar are as follows: 2015 2016 Net income $60,000 $90,000 Dividends 20,000 30,000 On January 1, 2015, the only undervalued tangible assets of Solar are inventory and the building. Inventory, for which FIFO is used, is worth $10,000 more than cost. The inventory is sold in 2015. The building, which is worth $30,000 more than book value, has a remaining life of10 years, and straight-line depreciation is used. The remaining excess of cost over book value is attributed to goodwill. Required 1. Using this information and the information in the following trial balances on December 31, 2016, prepare a value analysis and a determination and distribution of excess schedule: Paro Company Solar Company Inventory, December 31 100,000 50,000 Other Current Assets 136,000 180,000 Investment in Solar Company 400,000 Land 50,000 50,000 Buildingsand Equipment 350,000 320,000 Accumulated Depreciation (100,000) (60,000) Goodwill Other Intangibles 20,000 Current Liabilities (120,000) (40,000) Bonds Payable (100,000) Other Long-Term Liabilities (200,000) Common Stock—Paro Company (200,000) Other Paid-In Capital in Excess of Par—Paro Company (100,000) Retained Earnings—Paro Company (214,000) Common Stock—Solar Company (50,000) Other Paid-In Capital in Excess of Par—Solar Company (100,000) Retained Earnings—Solar Company (190,000) Net Sales (520,000) (450,000) Cost of Goods Sold 300,000 260,000 Operating Expenses 120,000 100,000 Subsidiary Income (72,000) Dividends Declared—Paro Company 50,000 Dividends Declared—Solar Company 30,000 Totals 0 0 2. Complete a worksheet for consolidated financial statements for 2016. Include columns for eliminations and adjustments, consolidated income, NCI, controlling retained earnings, and consolidated balance sheet. Problem 3-10 (LO3, 5) 100%, cost method worksheet, several adjustments, third year. Refer to the preceding information for Paulcraft’s acquisition of Switzer’s common stock. Assume that Paulcraft pays $480,000 for 100% of Switzer common stock. Paulcraft uses the cost method to account for its investment in Switzer. Paulcraft and Switzer have the following trial balances on December 31, 2017 as shown on page 191. Paulcraft Switzer Cash 100,000 110,000 Accounts Receivable 90,000 55,000 Inventory 120,000 86,000 Land 100,000 60,000 Investment in Switzer 480,000 Buildings 800,000 250,000 Accumulated Depreci.

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Normal and inferior goods Solution Initial budget line is BC1 and new budget line is BC2 (parallel rightward shift from BC1). (1) Following shift factors are applicable: - Income increased while prices remained the same - Prices of both theater and concerts decreased while income remained the same (2) Plays are inferior good (since higher income has decreased the demand for plays, from 6 to 5) and concerts are normal goods (since higher income has increased the demand for concerts, from 2 to 5).

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Nicholas Fredich placed an advertisement in a newspaper seeking applications for the job of bookkeeper. He then stole the résumé and identity of one of the respondents and used the person’s information to apply for a bookkeeping position at Clean World Engineering, Ltd. After two weeks of working at Clean World, he claimed he had an emergency and he took several days off. Then it was discovered that many checks were missing and Fredich had forged the checks. Fredich had complete access to the checks during his employment at Clean World. Some of these forged checks were deposited into a bank and paid by MidAmerica Bank. MidAmerica did not contest the fact that it paid the checks bearing the forged signatures, but it argued that Clean World did not exercise ordinary care. Given these facts, who should bear the loss, MidAmerica or Clean World? [ Clean World Engineering, Ltd. v. MidAmerica Federal Savings Bank, 341 Ill. App. 3d 992, 793 N.E.2d 110 (2003).] Solution Given the facts, since Nicholas was in the employment of Clean World, when he forged the checks and encashed them from MidAmerica Bank, it is clear that the losses owing to the forged checks should be borne by Clean World only. The bank is clearly absolved of its liability, since it considered the cheques to be be genuinely issued and hence encashed the same..

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Network Models Discuss the benefits provided by network modeling. Describe how the shortest-route and maximal-flow techniques can be utilized. Please provide an example of one of these techniques. Solution The network model is a database model conceived as a flexible way of representing objects and their relationships. Its distinguishing feature is that the schema, viewed as a graph in which object types are nodes and relationship types are arcs, is not restricted to being a hierarchy or lattice. The network model replaces the hierarchical model with a graph thus allowing more general connections among the nodes.The main difference of the network model from the hierarchical model is its ability to handle many to many relationships.In other words it allow a record to have more than one parent. BENEFITS OF NETWORK MODEL: The major advantage of network model are- Conceptual simplicity: Just like the hierarchical model, the network model is also conceptually simple and easy to design. Capability to handle more relationship types: The network model can handle the one to many and many to many relationships which is real help in modeling the real life situations. Ease of data access: The data access is easier and flexible than the hierarchical model. Data integrity: The network model does not allow a member to exist without an owner. Data independence: The network model is better than the hierarchical model in isolating the programs from the complex physical storage details. Shortest Route Technique: Definition:Shortest route technique can find the shortest path through a network. For example: This technique can find the shortest route from one city to another through a network of roads. Steps of the Shortest-Route Technique: Maximum Flow Technique: Definition: The maximal-flow technique finds the maximum flow of any quantity or substance through a network. For example: This technique can determine the maximum number of vehicles (cars, trucks, etc.) that can go through a network of roads from one location to another. The maximal-flow technique allows the maximum amount of a material that can flow through a network to be determined. For example: An example: The Four Maximal-Flow Technique Steps:.

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Neorealism is also known as “structural institutionalism.” t/f? Solution False. Neorealism – or structural realism – is the bedrock theory of International Relations. Starting from a simple set of assumptions, it seeks to explain how states, in particular the most powerful ones, behave, and how they interact with each other on the international arena. Neorealism – or structural realism – is a theory of international politics. The theory is usually associated with Kenneth Waltz (1924–2013) and his 1979 book bearing the obvious name Theory of International Politics. That book endeavored to construct a very general framework for explaining recurring patterns of state behavior and state interaction in the international system..

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