Unlock document.
This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
62. Pell Company acquires 80% of Demers Company for $500,000 on January 1,
2010. Demers reported common stock of $300,000 and retained earnings of
$210,000 on that date. Equipment was undervalued by $30,000 and buildings
were undervalued by $40,000, each having a 10-year remaining life. Any excess
consideration transferred over fair value was attributed to goodwill with an
indefinite life. Based on an annual review, goodwill has not been impaired.
Demers earns income and pays dividends as follows:
Assume the equity method is applied.
Compute the non-controlling interest in the net income of Demers at December
31, 2012.
63. Pell Company acquires 80% of Demers Company for $500,000 on January 1,
2010. Demers reported common stock of $300,000 and retained earnings of
$210,000 on that date. Equipment was undervalued by $30,000 and buildings
were undervalued by $40,000, each having a 10-year remaining life. Any excess
consideration transferred over fair value was attributed to goodwill with an
indefinite life. Based on an annual review, goodwill has not been impaired.
Demers earns income and pays dividends as follows:
Assume the equity method is applied.
Compute the non-controlling interest in Demers at December 31, 2010.
64. Pell Company acquires 80% of Demers Company for $500,000 on January 1,
2010. Demers reported common stock of $300,000 and retained earnings of
$210,000 on that date. Equipment was undervalued by $30,000 and buildings
were undervalued by $40,000, each having a 10-year remaining life. Any excess
consideration transferred over fair value was attributed to goodwill with an
indefinite life. Based on an annual review, goodwill has not been impaired.
Demers earns income and pays dividends as follows:
Assume the equity method is applied.
Compute the non-controlling interest in Demers at December 31, 2011.
65. Pell Company acquires 80% of Demers Company for $500,000 on January 1,
2010. Demers reported common stock of $300,000 and retained earnings of
$210,000 on that date. Equipment was undervalued by $30,000 and buildings
were undervalued by $40,000, each having a 10-year remaining life. Any excess
consideration transferred over fair value was attributed to goodwill with an
indefinite life. Based on an annual review, goodwill has not been impaired.
Demers earns income and pays dividends as follows:
Assume the equity method is applied.
Compute the non-controlling interest in Demers at December 31, 2012.
66. Pell Company acquires 80% of Demers Company for $500,000 on January 1,
2010. Demers reported common stock of $300,000 and retained earnings of
$210,000 on that date. Equipment was undervalued by $30,000 and buildings
were undervalued by $40,000, each having a 10-year remaining life. Any excess
consideration transferred over fair value was attributed to goodwill with an
indefinite life. Based on an annual review, goodwill has not been impaired.
Demers earns income and pays dividends as follows:
Assume the initial value method is applied.
Compute Pell's investment in Demers at December 31, 2010.
67. Pell Company acquires 80% of Demers Company for $500,000 on January 1,
2010. Demers reported common stock of $300,000 and retained earnings of
$210,000 on that date. Equipment was undervalued by $30,000 and buildings
were undervalued by $40,000, each having a 10-year remaining life. Any excess
consideration transferred over fair value was attributed to goodwill with an
indefinite life. Based on an annual review, goodwill has not been impaired.
Demers earns income and pays dividends as follows:
Assume the initial value method is applied.
Compute Pell's investment in Demers at December 31, 2011.
68. Pell Company acquires 80% of Demers Company for $500,000 on January 1,
2010. Demers reported common stock of $300,000 and retained earnings of
$210,000 on that date. Equipment was undervalued by $30,000 and buildings
were undervalued by $40,000, each having a 10-year remaining life. Any excess
consideration transferred over fair value was attributed to goodwill with an
indefinite life. Based on an annual review, goodwill has not been impaired.
Demers earns income and pays dividends as follows:
Assume the initial value method is applied.
Compute Pell's investment in Demers at December 31, 2012.
69. Pell Company acquires 80% of Demers Company for $500,000 on January 1,
2010. Demers reported common stock of $300,000 and retained earnings of
$210,000 on that date. Equipment was undervalued by $30,000 and buildings
were undervalued by $40,000, each having a 10-year remaining life. Any excess
consideration transferred over fair value was attributed to goodwill with an
indefinite life. Based on an annual review, goodwill has not been impaired.
Demers earns income and pays dividends as follows:
Assume the initial value method is applied.
How much does Pell record as Income from Demers for the year ended December
31, 2010?
70. Pell Company acquires 80% of Demers Company for $500,000 on January 1,
2010. Demers reported common stock of $300,000 and retained earnings of
$210,000 on that date. Equipment was undervalued by $30,000 and buildings
were undervalued by $40,000, each having a 10-year remaining life. Any excess
consideration transferred over fair value was attributed to goodwill with an
indefinite life. Based on an annual review, goodwill has not been impaired.
Demers earns income and pays dividends as follows:
Assume the initial value method is applied.
How much does Pell record as Income from Demers for the year ended December
31, 2011?
71. Pell Company acquires 80% of Demers Company for $500,000 on January 1,
2010. Demers reported common stock of $300,000 and retained earnings of
$210,000 on that date. Equipment was undervalued by $30,000 and buildings
were undervalued by $40,000, each having a 10-year remaining life. Any excess
consideration transferred over fair value was attributed to goodwill with an
indefinite life. Based on an annual review, goodwill has not been impaired.
Demers earns income and pays dividends as follows:
Assume the initial value method is applied.
How much does Pell record as Income from Demers for the year ended December
31, 2012?
72. Pell Company acquires 80% of Demers Company for $500,000 on January 1,
2010. Demers reported common stock of $300,000 and retained earnings of
$210,000 on that date. Equipment was undervalued by $30,000 and buildings
were undervalued by $40,000, each having a 10-year remaining life. Any excess
consideration transferred over fair value was attributed to goodwill with an
indefinite life. Based on an annual review, goodwill has not been impaired.
Demers earns income and pays dividends as follows:
Assume the initial value method is applied.
Compute the non-controlling interest in the net income of Demers at December
31, 2010.
73. Pell Company acquires 80% of Demers Company for $500,000 on January 1,
2010. Demers reported common stock of $300,000 and retained earnings of
$210,000 on that date. Equipment was undervalued by $30,000 and buildings
were undervalued by $40,000, each having a 10-year remaining life. Any excess
consideration transferred over fair value was attributed to goodwill with an
indefinite life. Based on an annual review, goodwill has not been impaired.
Demers earns income and pays dividends as follows:
Assume the initial value method is applied.
Compute the non-controlling interest in the net income of Demers at December
31, 2011.
74. Pell Company acquires 80% of Demers Company for $500,000 on January 1,
2010. Demers reported common stock of $300,000 and retained earnings of
$210,000 on that date. Equipment was undervalued by $30,000 and buildings
were undervalued by $40,000, each having a 10-year remaining life. Any excess
consideration transferred over fair value was attributed to goodwill with an
indefinite life. Based on an annual review, goodwill has not been impaired.
Demers earns income and pays dividends as follows:
Assume the initial value method is applied.
Compute the non-controlling interest in the net income of Demers at December
31, 2012.
75. Pell Company acquires 80% of Demers Company for $500,000 on January 1,
2010. Demers reported common stock of $300,000 and retained earnings of
$210,000 on that date. Equipment was undervalued by $30,000 and buildings
were undervalued by $40,000, each having a 10-year remaining life. Any excess
consideration transferred over fair value was attributed to goodwill with an
indefinite life. Based on an annual review, goodwill has not been impaired.
Demers earns income and pays dividends as follows:
Assume the initial value method is applied.
Compute the non-controlling interest in Demers at December 31, 2010.
76. Pell Company acquires 80% of Demers Company for $500,000 on January 1,
2010. Demers reported common stock of $300,000 and retained earnings of
$210,000 on that date. Equipment was undervalued by $30,000 and buildings
were undervalued by $40,000, each having a 10-year remaining life. Any excess
consideration transferred over fair value was attributed to goodwill with an
indefinite life. Based on an annual review, goodwill has not been impaired.
Demers earns income and pays dividends as follows:
Assume the initial value method is applied.
Compute the non-controlling interest in Demers at December 31, 2011.
77. Pell Company acquires 80% of Demers Company for $500,000 on January 1,
2010. Demers reported common stock of $300,000 and retained earnings of
$210,000 on that date. Equipment was undervalued by $30,000 and buildings
were undervalued by $40,000, each having a 10-year remaining life. Any excess
consideration transferred over fair value was attributed to goodwill with an
indefinite life. Based on an annual review, goodwill has not been impaired.
Demers earns income and pays dividends as follows:
Assume the initial value method is applied.
Compute the non-controlling interest in Demers at December 31, 2012.
78. Pell Company acquires 80% of Demers Company for $500,000 on January 1,
2010. Demers reported common stock of $300,000 and retained earnings of
$210,000 on that date. Equipment was undervalued by $30,000 and buildings
were undervalued by $40,000, each having a 10-year remaining life. Any excess
consideration transferred over fair value was attributed to goodwill with an
indefinite life.
Demers earns income and pays dividends as follows:
Assume the partial equity method is applied.
Compute Pell's investment in Demers at December 31, 2010.
79. Pell Company acquires 80% of Demers Company for $500,000 on January 1,
2010. Demers reported common stock of $300,000 and retained earnings of
$210,000 on that date. Equipment was undervalued by $30,000 and buildings
were undervalued by $40,000, each having a 10-year remaining life. Any excess
consideration transferred over fair value was attributed to goodwill with an
indefinite life.
Demers earns income and pays dividends as follows:
Assume the partial equity method is applied.
Compute Pell's investment in Demers at December 31, 2011.
80. Pell Company acquires 80% of Demers Company for $500,000 on January 1,
2010. Demers reported common stock of $300,000 and retained earnings of
$210,000 on that date. Equipment was undervalued by $30,000 and buildings
were undervalued by $40,000, each having a 10-year remaining life. Any excess
consideration transferred over fair value was attributed to goodwill with an
indefinite life.
Demers earns income and pays dividends as follows:
Assume the partial equity method is applied.
Compute Pell's investment in Demers at December 31, 2012.
81. Pell Company acquires 80% of Demers Company for $500,000 on January 1,
2010. Demers reported common stock of $300,000 and retained earnings of
$210,000 on that date. Equipment was undervalued by $30,000 and buildings
were undervalued by $40,000, each having a 10-year remaining life. Any excess
consideration transferred over fair value was attributed to goodwill with an
indefinite life.
Demers earns income and pays dividends as follows:
Assume the partial equity method is applied.
How much does Pell record as Income from Demers for the year ended December
31, 2010?
