James Company buys 100 percent of the outstanding stock of Maier Company for $650,000 . Maier Company has contributed capital of $420,000 and retained earnings of $180,000 . The fair market value of Maier's identifiable net assets was equal to their book value on the date of acquisition. The consolidated financial statements would contain
a. neither minority interest nor goodwill.
b. goodwill but not minority interest.
c. minority interest but not goodwill.
d. minority interest and goodwill.
B
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The Willa estate reports $100,000 DNI composed of $50,000 dividends, $20,000 taxable interest, $10,000 passive income, and $20,000 tax-exempt interest. Willa’s two noncharitable income beneficiaries, Shanna and Tom, receive distributions of $75,000 each. How much of each class of income is deemed to have been distributed to Shanna? To Tom? Use the following template to structure your answer. ? ? Beneficiary Amount Received DNI, Income Type Corpus, Nontaxable Dividends Taxable Interest Passive Exempt Interest Shanna ? ? ? ? ? ? Tom ? ? ? ? ? ? Totals in DNI ? ? ? ? ? ?
What will be an ideal response?
Use the information below for Barton Shipping Corp for 2016 and 2017 to answer the following question. Retained earnings, December 31, 2016 $300,000 Retained earnings, December 31, 2017 345,000 Dividends payable, December 31, 2016 19,000 Dividends payable, December 31, 2017 29,000 Net income—2017 150,000 How much cash did Barton Shipping pay for dividends during 2017?
a. $95,000 b. $105,000 c. $115,000 d. $140,000
The rate of occurrence of persons eligible to participate in the study expressed as a percentage is called the completion rate
Indicate whether the statement is true or false
If a portfolio manager had to estimate the fair value of private equity funds invested in a young, privately-held start-up company, which of the following would he/she most likely identify as the level of inputs to determine this?
a. Level 1. b. Level 2. c. Level 3. d. None of these.