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Category > Management Posted 03 Feb 2018 My Price 8.00

Par Corporation

Allocation schedule for fair value/book value differential and consolidated balance sheet at acquisition

Par Corporation acquired 70 percent of the outstanding common stock of Set Corporation on January 1, 2011, for $350,000 cash. Immediately after this acquisition the balance sheet information for the two companies was as follows (in thousands):

		Set
	Par Book Value	Book Value	Fair Value
Assets
Cash	$ 70	$ 40	$ 40
Receivables—net	160	60	60
Inventories	140	60	100
Land	200	100	120
Buildings—net	220	140	180
Equipment—net	160	80	60
Investment in Set	350	—	—
Total assets	$1,300	$480	$560

Liabilities and Stockholders’ Equity
Accounts payable	$ 180	$160	$160
Other liabilities	20	100	80
Capital stock, $20 par	1,000	200
Retained earnings	100	20
Total equities	$1,300	$480

REQUIRED

1. Prepare a schedule to allocate the difference between the fair value of the investment in Set and the book value of the interest to identifiable and unidentifiable net assets.

2. Prepare a consolidated balance sheet for Par Corporation and Subsidiary at January 1, 2011.

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Status NEW Posted 03 Feb 2018 12:02 AM My Price 8.00

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