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Moving to another question will save response Question 37 Sangreal Co has 100.000 shares of stock outstanding. Petra Crecently acquired 10.000 of these shares for 1 noncontrolling strofects a share price of $19. At the scoundate, the following information about Sangreal was 2.800,000 Fair value of total assets 4.700.000 Por should recognize Petra previously had no y carrying out of estergade u nde 200000 Ca r v e s $780,000 of goodwil $400,000 of goodwill $100,000 of gain $280,000 of goodwill Moving to another question will save this response son 73 Question 38 Agano A directam ent to retained mig Lither again or loss or a dret adjustment to additional pancial toner question w ave this song Question 39 Prontowns of Share to reboot the transaction from the consolidated 1,000,000 out on the r y month ve Additional paid in capital for $1,000,000 Noncontrolling interest for 1.000.000 Again for $1,000,000 A loss for $1,000,000 Conta Moving to another question will save this response. Question 40 Assuming no intraentity transactions, which of the following is a false statement about the financial statements of a parent and its 80%-owned subsidiary? Consolidated financial statements include 100% of the assets and liabilities of the subsidiary. The noncontrolling interest in acquired net assets is not shown on the consolidated balance sheet Net income attributable to the parent is not the same as cons The consolidated financial statements are not affected by whether the parent-only statements use the equity method of accounting Moving to another question will save this response. Question 41 Purvis Company acquired a 100% Interest in Smith company on January 1 Year 1. aprice $200.000 in confiscaring amount o with a 5-year remaining that was deprecated on the right transactions occurred during the year, and no other minations or adjustments were required in the condition procedure. basis. The reminder was tribute to wonder income be included in the December 31, Yoar 1, consolidated income woment? Puis pe 0.00 mee 70.000 de wa r n y e COGS Depreciation Inv i nco $200,000 $446.000 $300,000 $500,000 Question 42 Suwannee Company issued 20.000 additional shares of its common stock for $1.6 m Suwanneessed this stock to the general pub and that Para Corpoon holds 10.000 of the outstanding the w ont e Company's section a before and y you Common stock $10 per Additional paid in capital Hetained earnings Totalegutty $1,000,000 2.500,000 3,000,000 $7,400.000 $1.200.000 3.900,000 3.900,000 50.000.000 An $80,000 increase A $1,280.000 Increase An 580,000 decrease May to another question will save this response Moving to another question will save this song Question 43 Purvis Company acquired a 100% natin Smith company on January 1 with a buyon remaining useful 1, tap that was deprecated on the w 200.000 presented below. Notransactions between u ebshmer was s and Smith our statements. At what amounts should these uning the year sending be included in December 31, Yal, cordated n sta bo or was the d r $ 80.000 $ 60.000 Equipment 150,000 Choodwill Inventory - $140,000: Equipment 0.000, Goodwill - $90,000 Inventory - $140,000: Equipment $280,000: Goodwill - $0 Inventory - $100,000: Equipment $350,000, Goodwill $90,000 Inventory-$180,000: Equipment-$336,000: Goodwill - 50 Moving to another question will save response Question 37 Sangreal Co has 100.000 shares of stock outstanding. Petra Crecently acquired 10.000 of these shares for 1 noncontrolling strofects a share price of $19. At the scoundate, the following information about Sangreal was 2.800,000 Fair value of total assets 4.700.000 Por should recognize Petra previously had no y carrying out of estergade u nde 200000 Ca r v e s $780,000 of goodwil $400,000 of goodwill $100,000 of gain $280,000 of goodwill Moving to another question will save this response son 73 Question 38 Agano A directam ent to retained mig Lither again or loss or a dret adjustment to additional pancial toner question w ave this song Question 39 Prontowns of Share to reboot the transaction from the consolidated 1,000,000 out on the r y month ve Additional paid in capital for $1,000,000 Noncontrolling interest for 1.000.000 Again for $1,000,000 A loss for $1,000,000 Conta Moving to another question will save this response. Question 40 Assuming no intraentity transactions, which of the following is a false statement about the financial statements of a parent and its 80%-owned subsidiary? Consolidated financial statements include 100% of the assets and liabilities of the subsidiary. The noncontrolling interest in acquired net assets is not shown on the consolidated balance sheet Net income attributable to the parent is not the same as cons The consolidated financial statements are not affected by whether the parent-only statements use the equity method of accounting Moving to another question will save this response. Question 41 Purvis Company acquired a 100% Interest in Smith company on January 1 Year 1. aprice $200.000 in confiscaring amount o with a 5-year remaining that was deprecated on the right transactions occurred during the year, and no other minations or adjustments were required in the condition procedure. basis. The reminder was tribute to wonder income be included in the December 31, Yoar 1, consolidated income woment? Puis pe 0.00 mee 70.000 de wa r n y e COGS Depreciation Inv i nco $200,000 $446.000 $300,000 $500,000 Question 42 Suwannee Company issued 20.000 additional shares of its common stock for $1.6 m Suwanneessed this stock to the general pub and that Para Corpoon holds 10.000 of the outstanding the w ont e Company's section a before and y you Common stock $10 per Additional paid in capital Hetained earnings Totalegutty $1,000,000 2.500,000 3,000,000 $7,400.000 $1.200.000 3.900,000 3.900,000 50.000.000 An $80,000 increase A $1,280.000 Increase An 580,000 decrease May to another question will save this response Moving to another question will save this song Question 43 Purvis Company acquired a 100% natin Smith company on January 1 with a buyon remaining useful 1, tap that was deprecated on the w 200.000 presented below. Notransactions between u ebshmer was s and Smith our statements. At what amounts should these uning the year sending be included in December 31, Yal, cordated n sta bo or was the d r $ 80.000 $ 60.000 Equipment 150,000 Choodwill Inventory - $140,000: Equipment 0.000, Goodwill - $90,000 Inventory - $140,000: Equipment $280,000: Goodwill - $0 Inventory - $100,000: Equipment $350,000, Goodwill $90,000 Inventory-$180,000: Equipment-$336,000: Goodwill - 50

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