By Fischer P.M., Taylor W.J., Cheng R.H.
Complicated ACCOUNTING deals the main authoritative, conceptually powerful, and entire insurance of complicated accounting issues of any textual content out there. thoroughly up to date to mirror the most recent FASB pronouncements, it really is a great coaching source for the CPA examination. complex ACCOUNTING additionally offers the instruments scholars have to pursue expert careers in an international financial system. this can be the single textual content out there to make use of the horizontal method of consolidations worksheets, the structure most typically utilized in the enterprise international.
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Extra info for Advanced Accounting (with Electronic Working Papers CD-ROM and Student Companion Book)
Equipment . . . . . . . . . . . . . . . . . Paid-In Capital in Excess of Par (existing on Expansion’s books) Current Liabilities . . . . . . . . . . . . . . . Common Stock ($10 par) . . . . . . . . . . . . Retained Earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20,000 40,000 10,000 40,000 20,000 30,000 20,000 90,000 50,000 If the issuer has no additional paid-in capital with which to meet the deficiency, the combiner’s retained earnings account was used as shown in the following chart: Jacobs Company (Combiner) Balances Increase in Expansion Inc.
34,500 Expected annual earnings in excess of normal . . . . . . . . . . $ 5,500 There are several methods that use the expected annual earnings in excess of normal to estimate goodwill. A common approach is to pay for a given number of years’ excess earnings. For instance, Acquisitions Inc. might offer to pay for four years of excess earnings, which would total $22,000. Alternatively, the excess earnings could be viewed as an annuity. The most optimistic purchaser might expect the excess earnings to continue forever.
85% 1,000 500 The application of the 90% rule became more complex when the combiner held shares of the issuer. To illustrate, assume that Company I issued 9,250 shares of its stock for 18,500 of the 20,000 shares of outstanding Company C stock subsequent to the initiation date of a plan of combination. In addition, Company C previously acquired 500 shares of Company I stock. The following diagram summarizes the intercompany stock transactions: Company I Company C Prior to initiation date .