On December 31, 20X8, Pancake Company acquired controlling ownership of Syrup Company. A consolidated balance sheet was prepared immediately. Partial balance sheet data for the two companies and the consolidated entity at that date follow: PancakeSyrupConsolidated CompanyCompanyEntityCash $80,000 $30,000 $110,000 Accounts Receivable 50,000 ? 78,000 Inventory 60,000 50,000 115,000 Buildings and Equipment 200,000 140,000 365,000 Less: Accumulated Depreciation (50,000) (28,000) (78,000) Investment in Syrup Stock ? Goodwill 15,000 Total Assets $464,000 $230,000 $605,000 Accounts
Payable $60,000 $32,000 $82,000 Wages Payable ? ? 78,000 Notes Payable 100,000 60,000 160,000 Common Stock 100,000 50,000 ? Retained Earnings 154,000 60,000 ? Noncontrolling Interest 31,000 Total Liabilities and Equities ? $230,000 $605,000 During 20X8, Pancake Company provided consulting services to Syrup Company and has not yet paid for them. There were no other receivables or payables between the companies at December 31, 20X8.Based on the information given, what amount will be reported as total controlling interest in the consolidated balance sheet?
A. $364,000
B. $254,000
C. $285,000
D. $395,000
Answer: B
You might also like to view...
All liabilities that are not classified as current liabilities are classified as ___________________
Fill in the blank(s) with correct word
If a company carries safety stock and its annual carrying costs per unit are $0.30, what formula yields the total annual carrying costs?
a. $0.30 ? [(EOQ/2) + Safety stock)] b. $0.30 ? (EOQ + Safety stock) c. $0.30 ? [(EOQ ? 2) + Safety stock)] d. $0.30 ? (EOQ - Safety stock)
The operations research analyst for a big manufacturing firm in Oregon developed the following variable definitions for an LP maximization problem she was working on. The company was trying to determine how many consoles of each model to produce next week given each console had to go through three production departments. She obtained the following optimal simplex tableau for the problem and wanted to interpret its meaning. Variable definitions:
xl = number of model 1 consoles produced
x2 = number of model 2 consoles produced
s1 = unused personnel hours in department 1
s2 = unused personnel hours in department 2
s3 = unused personnel hours in department 3
objective function = total profit on model 1 and model 2 consoles produced in the coming week
At orientation, new employees get a crash course in AtlantiCare's improvement methods, as well as a performance excellence framework called the _____
a. 5Bs b. TLT process c. PDCA cycle d. balanced scorecard