Chapter 4 Problems

Chapter 4 Problems - Assignment Problems For Chapter 4 Page...

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Assignment Problems For Chapter 4 (The solutions for these problems are only available in the solutions manual that has been provided to your instructor.) Assignment Problem Four - 1 (Consolidated Balance Sheet at Acquisition - NCI On Identifiable Assets) On December 31, 2009, the closed Trial Balances of the Pass Company and the Sass Company, before the business combination transaction, were as follows: Pass Sass Cash And Receivables $ 100,000 $ 110,000 Inventories 3,300,000 190,000 Current Assets $3,400,000 $ 300,000 Plant And Equipment (At Cost) 9,000,000 3,000,000 Accumulated Amortization ( 3,400,000) ( 1,200,000) Total Assets $9,000,000 $2,100,000 Current Liabilities $ 300,000 $ 200,000 Long-Term Liabilities 3,500,000 800,000 Mortgage Payable N/A 300,000 Total Liabilities $3,800,000 $1,300,000 Shareholders’ Equity Common Stock - No Par 1,000,000 N/A Common Stock - Par $50 N/A 900,000 Contributed Surplus N/A 300,000 Retained Earnings (Deficit) 4,200,000 ( 400,000) Total Equities $9,000,000 $2,100,000 The Pass Company has 25,000 shares outstanding on December 31, 2009 which are trading at
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This note was uploaded on 03/09/2011 for the course ACCT 354 taught by Professor Wilson during the Spring '11 term at Concordia AB.

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Chapter 4 Problems - Assignment Problems For Chapter 4 Page...

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