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  • Using The Data Given in Problem 2 1 Assume That Roland

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    Muhammad Shahid
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    Roland Company exchanged 14,000 of its shares worth $630,000 for 16,000 shares of Downes Company. Downes had assets including current assets of $70,000, inventory of $80,000, land of $90,000, building of $150,000, and equipment of $100,000. The document provides data to record the investment in Downes, prepare value and excess schedules, and consolidate the balance sheets of the two companies post-purchase.

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    Using the Data Given in Problem 2 1 Assume That Roland

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    Roland Company exchanged 14,000 of its shares worth $630,000 for 16,000 shares of Downes Company. Downes had assets including current assets of $70,000, inventory of $80,000, land of $90,000, building of $150,000, and equipment of $100,000. The document provides data to record the investment in Downes, prepare value and excess schedules, and consolidate the balance sheets of the two companies post-purchase.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    11 views1 page

    Using The Data Given in Problem 2 1 Assume That Roland

    Uploaded by

    Muhammad Shahid
    Roland Company exchanged 14,000 of its shares worth $630,000 for 16,000 shares of Downes Company. Downes had assets including current assets of $70,000, inventory of $80,000, land of $90,000, building of $150,000, and equipment of $100,000. The document provides data to record the investment in Downes, prepare value and excess schedules, and consolidate the balance sheets of the two companies post-purchase.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    Using the data given in Problem 2 1 assume that Roland

    #6215
    Using the data given in Problem 2-1, assume that Roland Company exchanged 14,000 of its
    $45 fair value ($1 par value) shares for 16,000 of the outstanding shares of Downes
    Company.The following fair values applied to Downes's assets:Other current
    assets.............................$ 70,000Inventory...........................................80,000Land......................
    ..........................90,000Building..........................................150,000Equipment..............................
    .........100,000Required1. Record the investment in Downes Company and any other purchase-
    related entry.2. Prepare the value analysis schedule and the determination and distribution of
    excess schedule.3. Prepare a consolidated balance sheet for July 1, 2016, immediately
    subsequent to the purchase.View Solution:
    Using the data given in Problem 2 1 assume that Roland

    ANSWER
    http://paperinstant.com/downloads/using-the-data-given-in-problem-2-1-assume-that-roland/

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