Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 04 Jun 2017 My Price 10.00

Pratt Company acquired all of Spider, Inc

10's outstanding shares on December 31, 2011, for $495,000 cash. Pratt will operate Spider as a wholly owned subsidiary with a separate legal and accounting identity. Although many of Spider's book values approximate fair values, several of its accounts have fair values that differ from book values. In addition, Spider has internally developed assets that remain unrecorded on its books. In deriving the acquisition price, Pratt assessed Sprider's fair and book value differences as follows:

 

 

 

 

 

 

Book Values

 

 

Fair Values

 

 

Computer software

 

 

20,000

 

 

70,000

 

 

Equipment

 

 

40,000

 

 

30,000

 

 

Client contracts

 

 

  

100,000

 

 

 

 

 

In-process research and development

 

 

40,000

 

 

Notes payable

 

 

(60,000)

 

 

(65,000)

 

 
     

 

 

 

At December 31, 2011, the following financial information is available for consolidation:

 

 

(Please refer to the next tab - P02-20 Entry for financial information)

 

 

 

 

 

 

Prepare a consolidated balance sheet for Pratt and Spider as of December 31, 2011.

Answers

Maurice Tutor
(5)
Status NEW Posted 04 Jun 2017 11:06 PM My Price 10.00

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