Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on march 31, 2014, tobias ag purchased 90 percent

On March 31, 2014, Tobias AG purchased 90 percent of interest in Mark AG for...

70.2K

Verified Solution

Question

Accounting

image

On March 31, 2014, Tobias AG purchased 90 percent of interest in Mark AG for 58,100,000 cash. Mark AG had unrecorded patents on this date for $100,000. The balance sheet summary of Mark AG on March 31, 2014, was as follows (in thousands): Book Value Fair Value Cash Inventories Land Buildings-net Equipment-net Current liabilities Notes payable Bonds payable Common stock, $10 par Retained earnings $1,000 1,600 3,000 2,800 3,900 900 1.800 2,400 2,000 5,200 $1.000 2.000 4.000 2,500 4,000 900 2.000 2,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students