Pie Corporation acquired 75 percent of Slice Company's ownership on January 1,208, for $96,000. At that date, the fair value of the noncontrolling interest was $32,000. The book value of Slice's net assets at acquisition was $94,000. The book values and fair values of Slice's assets and liabilities were equal, except for Slice's buildings and equipment, which were worth $18,800 more than book value. Accumulated depreciation on the buildings and equipment was $27,000 on the acquisition date. Buildings and equipment are depreciated on a 10-year basis. Although goodwill is not amortized, the management of Pie concluded at December 31, 20X8, that goodwill from its purchase of Slice shares had been impaired and the correct carrying amount was $2,600. Goodwill and goodwill impairment were assigned proportionately to the controlling and noncontrolling shareholders. Trial balance data for Pie and Slice on December 31, 20X8, are as follows: Required
Other questions asked by students
mechanical vibration Consider a single cylinder engine such as the one shown here where r is the...
A group of 5 students is to be chosen from a 27 member class to...
The price per barrel of crude oil in the period 1980 2013 in constant 2014...
Those are the key terms for series 42 preferred Class B shares issues by Bank...
Question FIVE (6 Marks 5. Discuss Two of the factors that can hinder group decision...
Q. Under the payroll system of an organization we find several components such as HRM...