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  • Anchovy Acquired 90 Percent of Yelton On January 1 2011

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    Miroslav Gegoski
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    Anchovy acquired 90% of Yelton on January 1, 2011. Assets acquired included undervalued equipment valued at $60,000 with a 10-year life and franchises valued at $80,000 to be written off over 20 years. Since the acquisition, Yelton has transferred inventory to Anchovy and Anchovy sold Yelton a building originally costing $70,000 for $50,000.

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    Anchovy Acquired 90 Percent of Yelton on January 1 2011

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    Anchovy Acquired 90 Percent of Yelton on January 1 2011

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    Anchovy acquired 90% of Yelton on January 1, 2011. Assets acquired included undervalued equipment valued at $60,000 with a 10-year life and franchises valued at $80,000 to be written off over 20 years. Since the acquisition, Yelton has transferred inventory to Anchovy and Anchovy sold Yelton a building originally costing $70,000 for $50,000.

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    11 views1 page

    Anchovy Acquired 90 Percent of Yelton On January 1 2011

    Uploaded by

    Miroslav Gegoski
    Anchovy acquired 90% of Yelton on January 1, 2011. Assets acquired included undervalued equipment valued at $60,000 with a 10-year life and franchises valued at $80,000 to be written off over 20 years. Since the acquisition, Yelton has transferred inventory to Anchovy and Anchovy sold Yelton a building originally costing $70,000 for $50,000.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    Anchovy acquired 90 percent of Yelton on January 1 2011

    #8104
    Anchovy acquired 90 percent of Yelton on January 1, 2011. Of Yelton's total acquisition-date
    fair value, $60,000 was allocated to undervalued equipment (with a 10-year life) and $80,000
    was attributed to franchises (to be written off over a 20-year period).Since the takeover, Yelton
    has transferred inventory to its parent as follows:On January 1, 2012, Anchovy sold Yelton a
    building for $50,000 that had originally cost $70,000 but had only a $30,000 book value at the
    date of transfer. The building is estimated to have a five-year remaining life (straight-line
    depreciation is used with no salvage value).Selected figures from the December 31, 2013, trial
    balances of these two companies are as follows:Determine consolidated totals for each of these
    account balances.View Solution:
    Anchovy acquired 90 percent of Yelton on January 1 2011

    ANSWER
    http://paperinstant.com/downloads/anchovy-acquired-90-percent-of-yelton-on-january-1-2011/

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