Chapter_01_CF - (c) Deferral of 2009 intercompany gain =...

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Advanced Accounting Ninth Edition by Hoyle/Schaefer/Doupnik Key Figures in Selected Problems (Check figures for multiple choice questions not provided.) CHAPTER 1 P1-11: Amortization of Patent = $20,000 P1-12: Goodwill = $4,000 Investment in Holister, 12/31/09 = $80,000 P1-13: Equity in investee income = $32,000 P1-14: Excess cost to trademark = $30,000 (1 st purchase), $9,000 (2 nd purchase) Book Value of Denton; January 1, 2009 = $1,850,000 P1-15: Unrealized Gain = $40,000 Intercompany gain to be deferred = $10,000 P1-16: (a) Intercompany unrealized gain = $4,500 P1-17: Book Value of Brown on July 1, 2009 = $1,033,000 P1-21: (a) Equity income recognized by Russell in 2009 = $ 16,560 (b) Investment in Thacker, 12/31/09 = $342,560 P1-22: (a) Investment in Zach – December 31, 2009 = $115,100 (b) 2009 equity income accrual = $22,800 P1-23: (a) Equity income – 2007 = $17,250 (b) Investment in Barringer – 12/31/09 = $377,750
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Unformatted text preview: (c) Deferral of 2009 intercompany gain = $5,400 2009 amortization of second purchase = $2,000 P1-24: (a) Equity income 2008 = $2,765 (b) Investment in Barker December 31, 2009 = $59,771.25 P1-25: Total annual amortization = $3,300 Unrealized gain to be deferred until 2009 = $2,000 P1-26: Equity Income in Scranton, Inc. 2009 = $107,774 Investment in Scranton, 8/1/09 = $317,107 P1-27: (a) Equity income 2008 = $138,450 Equity income 2009 = $173,800 (b) Investment in Miller 12/31/09 = $907,000 P1-28: On 1/1/09, debit Investment in Sumter for $965,750 to record the cost of the additional 64,000 shares Retroactive adjustment for change to equity method = $36,800 Cost of shares sold on 7/1/10 (rounded) = 346,374 P1-29: Equity loss 2009 = $43,500 Total annual amortization = $18,000...
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