Advanced Accounting (with Electronic Working Papers CD-ROM by Fischer P.M., Taylor W.J., Cheng R.H.

By Fischer P.M., Taylor W.J., Cheng R.H.

Complex ACCOUNTING deals the main authoritative, conceptually powerful, and accomplished assurance of complex accounting themes of any textual content out there. thoroughly up to date to mirror the most recent FASB pronouncements, it truly is an outstanding training source for the CPA examination. complicated ACCOUNTING additionally presents the instruments scholars have to pursue specialist careers in a world financial system. this can be the single textual content out there to make use of the horizontal method of consolidations worksheets, the structure most ordinarily utilized in the company international.

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60,000  → Total paid-in capital . . . . 50,000  → Retained earnings . . . . . . $ 60,000 50,000 $110,000 $110,000 Total equity . . . . . . . Total equity . . . . . . . Equity transfer rules accommodated combinations in which the par or stated value of the shares issued exceeded the total paid-in capital of the combiner. This was a rare occurrence because most companies have no par or very low par value shares. When this situation occurs, the issuer first used its own paid-in capital in excess of par to cover the deficiency.

100,000 700,000 200,000 600,000 20 When the contingency involves the value of an asset other than goodwill, that asset’s value is to be ad- justed as a result of the contingent payment. For example, with a contingency involving the value of a building, the value would be adjusted at the time the contingency was resolved and the added payment made. 1-35 35 36 1-36 Business Combinations Part 1 COMBINED CORPORATE ENTITIES AND CONSOLIDATIONS If the $300,000 contingent payment was made the summary entry would be: Estimated Liability (for contingent consideration) .

Expansion Inc. agreed that the value of the goodwill is $35,000. To satisfy the $180,000 net asset value, Expansion issued common stock with a par value of $2 and a fair value of $20. Expansion issued 9,000 shares ($180,000 net asset value Ϭ $20 per share).

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