The following are several figures reported for Poyer and Sutter as of December 31, 2024:...

90.2K

Verified Solution

Question

Accounting

image
The following are several figures reported for Poyer and Sutter as of December 31, 2024: Poyer acquired 70 percent of Sutter in January 2023. In allocating the newly acquired subsidiary's fair value at the acquisition date. Poyer noted that Sutter had developed a unpatented technology worth $70,000 that was unrecorded on its accounting records and had a four-year remaining tife. Any remaining excess falr value over Sutter's book value was attributed to an indefinite-lived tradematk During 2024, Sutter sells inventory costing $126.000 to Poyer for $172.000. Of this amount, 20 percent remains unsold in Poyer's warehouse at year-end. Required: Determine balances for the following items that would appear on Poyer's consolidated financlal statements for 2024 : Note: Input all amounts as positive values

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