Consolidation balance for equipment account: Willkom Corporation buys 100 percent of Szabo, Inc., on January 1, 2002, at a price in excess of the subsidiary's fair market value.

Related BrainMass Solutions

• Forecast the equipment account balance in 2011 for Willkom Corporation's consolidation with Szabo, Inc.

  224453 Forecast equipment account balance for Willkom Corporation Willkom Corporation bought 100 percent of Szabo, Inc., on January 1, 2009, at a price in excess of the subsidiary's fair value.

• Balance in Investment Account

  Required: Determine the balance for Goodwill that would be included in a February 1, 2002, consolidation. 1.On January 2, 2002, Heinreich Co. paid $500,000 for 25% of the voting common stock of Jones Corp.

• Atwater Company and Bailey, Inc.

  Bailey, Inc., buys 60 percent of the outstanding stock of Luebs, Inc., in a purchase that resulted in the recognition of goodwill. Luebs owns a piece of land that cost $200,000 but was worth $500,000 at the date of purchase.

• Consolidation

  370182 Bubba Manufacturing Inc. and JDE: Consolidation Problem. On January 1, 2006, (JDE) bought a 55% interest in Bubba Manufacturing, Inc. (BMI).

• Equity Method, Goodwill Impairment, Consolidated Incomes, Balances and Statements

  Haynes, Inc., obtains 100 percent of Turner Company's common stock on January 1, 2002, by issuing 9,000 shares of $10 par value common tock. Haynes's shares had a $15 per share fair market value.

• Bailey, Inc. problem

  94358 Advanced Accounting Chapter 4 Problem 1 Bailey, Inc., buys 60 percent of the outstanding stock of Luebs, Inc., in a purchase that resulted in the recognition of goodwill.

• BALANCE SHEET INVESTMENT

  P2-32 Complex Differential Essex Company issued common shares with a par value of $50,000 and a market value of $165,000 in exchange for 30 percent ownership of Tolliver Corporation on January1, 2002.

• If less than 100% of a subsidiary's voting stock is obtained, how is the presence of the other owners reflected in consolidated financial statements?

  The excess cost of the investment over the underlying book value of the acquired net assets is allocated to inventory (60 percent) and to goodwill (40 percent). On a consolidation balance sheet as of January 2, 2006.

• The Value of Land

  91430 The Value of Land Question: Bailey, Inc., buys 60 percent of the outstanding stock of Luebs, Inc., in a purchase that resulted in the recognition of goodwill.