Wilkins Inc. acquired 100% of the voting common stock of Granger Inc. on January 1, 2021. The book value and fair value of Granger’s accounts on that date (prior to creating the combination) are as follows, along with the book value of Wilkins’s accounts: Wilkins Book Value Granger Book Value Granger Fair Value Retained earnings, 1/1/21 $ 250,000 $ 240,000 Cash and receivables 170,000 70,000 $ 70,000 Inventory 230,000 180,000 210,000 Land 320,000 220,000 240,000 Buildings (net) 480,000 240,000 280,000 Equipment (net) 120,000 90,000 90,000 Liabilities 650,000 440,000 430,000 Common stock 360,000 80,000 Additional paid-in capital 60,000 40,000 Assume that Wilkins issued 13,000 shares of common stock with a $5 par value and a $46 fair value for all of the outstanding stock of Granger. What is the consolidated balance for Land as a result of this acquisition transaction? A) $500,000. B) $550,000. C) $540,000. D) $560,000. E) $530,000.
Kaye Company acquired 100% of Fiore Company on January 1, 20…
Kaye Company acquired 100% of Fiore Company on January 1, 2021. Kaye paid $1,000 excess consideration over book value, which is being amortized at $20 per year. There was no goodwill in the combination. Fiore reported net income of $400 in 2021 and paid dividends of $100.Assume the equity method is applied. How much equity income will Kaye report on its internal accounting records as a result of Fiore’s operations?
A 15-year-old high school student is brought to the emergenc…
A 15-year-old high school student is brought to the emergency room by his father because of the sudden onset of excruciating pain in his right testicle. The pain started 2 hours prior and has gotten worse in intensity. He denies fever, chills, or urethral discharge. He is not sexually active. On physical examination, the testicle is swollen and tender to palpation. It appears to be retracted upward in the scrotum. He has no other evidence of infection. What is your most likely diagnosis?
Following are selected accounts for Green Corporation and Ve…
Following are selected accounts for Green Corporation and Vega Company as of December 31, 2023. Several of Green’s accounts have been omitted. Green Vega Revenues $ 900,000 $ 500,000 Cost of goods sold 360,000 200,000 Depreciation expense 140,000 40,000 Other expenses 100,000 60,000 Equity in Vega’s income ? Retained earnings, 1/1/2023 1,350,000 1,200,000 Dividends 195,000 80,000 Current assets 300,000 1,380,000 Land 450,000 180,000 Building (net) 750,000 280,000 Equipment (net) 300,000 500,000 Liabilities 600,000 620,000 Common stock 450,000 80,000 Additional paid-in capital 75,000 320,000 Green acquired 100% of Vega on January 1, 2019, by issuing 10,500 shares of its $10 par value common stock with a fair value of $95 per share. On January 1, 2019, Vega’s land was undervalued by $40,000, its buildings were overvalued by $30,000, and equipment was undervalued by $80,000. The buildings have a 20-year life and the equipment has a 10-year life. $50,000 was attributed to an unrecorded trademark with a 16-year remaining life. There was no goodwill associated with this investment.Compute the December 31, 2023, consolidated trademark. A) $50,000. B) $46,875. C) $0. D) $34,375. E) $37,500.
You are assessing Mike, age 16, after a football injury to h…
You are assessing Mike, age 16, after a football injury to his right knee. You elicit a positive anterior/posterior drawer sign. This test indicates an injury to the:
When a country exports more than it imports, it will have a…
When a country exports more than it imports, it will have a trade surplus.
Which of the following create challenges for successful offs…
Which of the following create challenges for successful offshoring? (check all that apply)
The financial statement amounts for the Atwood Company and t…
The financial statement amounts for the Atwood Company and the Franz Company as of December 31, 2021, are presented below. Also included are the fair values for Franz Company’s net assets (all numbers are in thousands). Atwood Franz Co. Franz Co. Book Value Book Value Fair Value 12/31/2021 12/31/2021 12/31/2021 Cash $ 870 $ 240 $ 240 Receivables 660 600 600 Inventory 1,230 420 580 Land 1,800 260 250 Buildings (net) 1,800 540 650 Equipment (net) 660 380 400 Accounts payable (570 ) (240 ) (240 ) Accrued expenses (270 ) (60 ) (60 ) Long-term liabilities (2,700 ) (1,020 ) (1,120 ) Common stock ($20 par) (1,980 ) Common stock ($5 par) (420 ) Additional paid-in capital (210 ) (180 ) Retained earnings 1/1/18 (1,170 ) (480 ) Revenues (2,880 ) (660 ) Expenses 2,760 620 Note: Parenthesis indicates a credit balanceAssume an acquisition business combination took place on December 31, 2021. Atwood issued 50 shares of its common stock with a fair value of $35 per share for all of the outstanding common shares of Franz. Stock issuance costs of $15 (in thousands) and direct costs of $10 (in thousands) were paid. Compute consolidated land at the date of the acquisition. A) $2,060. B) $1,800. C) $260. D) $2,050. E) $2,070.
A 70 year old client comes to the clinic complaining of blur…
A 70 year old client comes to the clinic complaining of blurred vision that has been getting increasingly worse over the last 2 years. The client also has a problem with glare but no problems with pain. The NP would first check for the presence of:
An unconscious patient who appears to be approximately in hi…
An unconscious patient who appears to be approximately in his mid-40s is brought to the emergency room by the Emergency Medical Services (EMS) team. He has been unconscious for an unknown length of time. You note that his jaws are clenched and his neck is extended. His arms are adducted and stiffly extended at the elbows, with the forearms pronated and the wrists and fingers flexed. His legs are stiffly extended at the knees with the feet plantar flexed. What type of posture does this patient have?