MultipleChoiceCh4-6.F10

MultipleChoiceCh4-6.F10 - SOLUTIONS TO EXERCISES E4-1...

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SOLUTIONS TO EXERCISES E4-1 Multiple-Choice Questions on Consolidation Process 1. c 2. d [AICPA Adapted] 3. d 4. b 5. a E4-2 Multiple-Choice Questions on Consolidation [AICPA Adapted] 1. c 2. a 3. d 4. c $400,000 = $1,700,000 - $1,300,000 E4-11 Multiple-Choice Questions on Balance Sheet Consolidation 1. d $215,000 = $130,000 + $85,000 2. b $23,000 = $198,000 – ($405,000 - $265,000 + $15,000 + $20,000) 3. c $1,109,000 = Total Assets of Top Corp. $ 844,000 Less: Investment in Sun Corp. (198,000 ) Book value of assets of Top Corp. $ 646,000 Book value of assets of Sun Corp. 405,000 Total book value $1,051,000 Payment in excess of book value ($198,000 - $140,000) 58,000 Total assets reported $1,109,000 4. c $701,500 = ($61,500 + $95,000 + $280,000) + ($28,000 + $37,000 + $200,000) 5. d $257,500 = The amount reported by Top Corporation
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6. a $407,500 = The amount reported by Top Corporation E5-1 Multiple-Choice Questions on Consolidation Process 1. d 2. d 3. b 4. d [AICPA Adapted] E5-2 Multiple-Choice Questions on Consolidation
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MultipleChoiceCh4-6.F10 - SOLUTIONS TO EXERCISES E4-1...

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