P corporation S corporation

  

2. P Corporation paid $420,000 for 70% of S Corporation’s $10 par common stock on December 31, 2011, when S Corporation’s stockholders’ equity was made up of $300,000 of Common Stock, $90,000 of Other Contributed Capital and $60,000 of Retained Earnings. S’s identifiable assets and liabilities reflected their fair values on December 31, 2011, except for S’s inventory which was undervalued by $60,000 and their land which was undervalued by $25,000. Balance sheets for P and S immediately after the business combination are presented in the partially completed work-paper below.

ASSETS

 
Cash

Accounts

receivable-net

Inventories

Land

Plant assets-

net

Investment in

S Corp.

Difference between implied and book value

Goodwill

Total Assets

EQUITIES

Current

liabilities

Capital stock

Additional paid-in capital

Retained earnings

Noncontrolling interest

Total Equities

 
Required:

How it works

  1. Paste your instructions in the instructions box. You can also attach an instructions file
  2. Select the writer category, deadline, education level and review the instructions 
  3. Make a payment for the order to be assignment to a writer
  4.  Download the paper after the writer uploads it 

Will the writer plagiarize my essay?

You will get a plagiarism-free paper and you can get an originality report upon request.

Is this service safe?

All the personal information is confidential and we have 100% safe payment methods. We also guarantee good grades