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Category > Accounting Posted 28 May 2017 My Price 7.00

YOU acquired 60 percent of Solar Company for $309,000

YOU acquired 60 percent of Solar Company for $309,000 when Solar’s book value was $409,000. The newly comprised 40 percent noncontrolling interest had an assessed fair value of $206,000. Also at the acquisition date, Solar had a trademark (with a 20-year life) that was undervalued in the financial records by $66,000. Also, patented technology (with a 10-year life) was undervalued by $46,000. Two years later, the following figures are reported by these two companies (stockholders’ equity accounts have been omitted):

 

 

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Alpha Geek
(8)
Status NEW Posted 28 May 2017 11:05 AM My Price 7.00

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file 1495969814-Answer.docx preview (120 words )
Y-----------ou -----------acq-----------uir-----------ed -----------60 -----------per-----------cen-----------t o-----------f S-----------ola-----------r C-----------omp-----------any----------- fo-----------r $-----------309-----------,00-----------0 w-----------hen----------- So-----------lar-----------’-----------s b-----------ook----------- va-----------lue----------- wa-----------s $-----------409-----------,00-----------0. -----------The----------- ne-----------wly----------- co-----------mpr-----------ise-----------d 4-----------0 p-----------erc-----------ent----------- no-----------nco-----------ntr-----------oll-----------ing----------- in-----------ter-----------est----------- ha-----------d a-----------n a-----------sse-----------sse-----------d f-----------air----------- va-----------lue----------- of----------- $2-----------06,-----------000-----------. A-----------lso----------- at----------- th-----------e a-----------cqu-----------isi-----------tio-----------n d-----------ate-----------, S-----------ola-----------r h-----------ad -----------a t-----------rad-----------ema-----------rk -----------(wi-----------th -----------a 2-----------0-y-----------ear----------- li-----------fe)----------- th-----------at -----------was----------- un-----------der-----------val-----------ued----------- in----------- th-----------e f-----------ina-----------nci-----------al -----------rec-----------ord-----------s b-----------y $-----------66,-----------000-----------. A-----------lso-----------, p-----------ate-----------nte-----------d t-----------ech-----------nol-----------ogy----------- (w-----------ith----------- a -----------10------------yea-----------r l-----------ife-----------) w-----------as -----------und-----------erv-----------alu-----------ed -----------by -----------$46-----------,00-----------0. -----------Two----------- ye-----------ars----------- la-----------ter-----------, t-----------he -----------fol-----------low-----------ing-----------
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