Business, 18.02.2020 01:14 dimondqueen511

Following are selected account balances from Penske Company and Stanza Corporation as of December 31, 2018:

Penske Stanza
Revenues $(770,000 ) $(448,000 )
Cost of goods sold 274,500 112,000
Depreciation expense 237,000 286,000
Investment income Not given 0
Dividends declared 80,000 60,000
Retained earnings,1/1/18 (700,000 ) (392,000 )
Current assets 596,000 574,000
Copyrights 988,000 504,500
Royalty agreements 690,000 1,138,000
Investment in Stanza Not given 0
Liabilities (524,000 ) (1,554,500 )
Common stock (600,000 ) ($20 par) (200,000 ) ($10 par)
Additional paid-in capital (150,000 ) (80,000 )

On January 1, 2018, Penske acquired all of Stanzas outstanding stock for $931,000 fair value in cash and common stock. Penske also paid $10,000 in stock issuance costs. At the date of acquisition copyrights (with a six-year remaining life) have a $560,000 book value but a fair value of $620,000.

a. As of December 31, 2018, what is the consolidated copyrights balance.
b. For the year ending December 31,2013, what is consolidated net income?
c. As of December 31,2013, what is the consolidated retained earnings balance?
d. As of December 31,2013, what is the consolidated balance to be reportedfor goodwill?

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 05:50

Acompany that makes shopping carts for supermarkets and other stores recently purchased some new equipment that reduces the labor content of the jobs needed to produce the shopping carts. prior to buying the new equipment, the company used 6 workers, who produced an average of 79 carts per hour. workers receive $16 per hour, and machine coast was $49 per hour. with the new equipment, it was possible to transfer one of the workers to another department, and equipment cost increased by $11 per hour while output increased by four carts per hour. a) compute the multifactor productivity (mfp) (labor plus equipment) under the prior to buying the new equipment. the mfp (carts/$) = (round to 4 decimal places). b) compute the productivity changes between the prior to and after buying the new equipment. the productivity growth = % (round to 2 decimal places)

Answers: 3

Answer

Business, 22.06.2019 10:20

The following information is for alex corp: product x: revenue $12.00 variable cost $4.50 product y: revenue $44.50 variable cost $9.50 total fixed costs $75,000 what is the breakeven point assuming the sales mix consists of two units of product x and one unit of product y?

Answers: 3

Answer

Business, 22.06.2019 16:40

Match the situations that will develop one's personality and those that won't peter is surrounded by friends who are always encouraging him jonathan always watches television when he wants to take a break from his books libby sets small targets for herself and strives to achieve them. the smiths indulge in an animated discussion on varied topics every evening after dinner. brook loves junk food and exercises once in a while. develops your personality develops doesn't develop your personality

Answers: 2

Answer

Business, 22.06.2019 18:00

Biochemical corp. requires $600,000 in financing over the next three years. the firm can borrow the funds for three years at 10.80 percent interest per year. the ceo decides to do a forecast and predicts that if she utilizes short-term financing instead, she will pay 7.50 percent interest in the first year, 12.15 percent interest in the second year, and 8.25 percent interest in the third year. assume interest is paid in full at the end of each year. a)determine the total interest cost under each plan. a) long term fixed rate: b) short term fixed rate: b) which plan is less costly? a) long term fixed rate plan b) short term variable rate plan

Answers: 2

Answer

You know the right answer?

Following are selected account balances from Penske Company and Stanza Corporation as of December 31...

Questions