Chapman Company obtains 100 percent of Abernethy Company’s stock on January 1, 2020. As of that date, Abernethy has the following trial balance: Debit Credit
Accounts payable $57,700
Accounts receivable $45,000
Additional paid-in capital 50,000
Buildings (net) (4-year remaining life) 124,000
Cash and short-term investments 68,250
Common stock 250,000
Equipment (net) (5-year remaining life) 327,500
Inventory 103,000
Land 106,000
Long-term liabilities (mature 12/31/23) 183,500
Retained earnings, 1/1/20 252,350
Supplies 19,800
Totals $793,550 $793,550

During 2020, Abernethy reported net income of $101,000 while declaring and paying dividends of $13,000.
During 2021, Abernethy reported net income of $152,000 while declaring and paying dividends of $39,000.

Assume that Chapman Company acquired Abernethy’s common stock for $664,740 in cash. Assume that the equipment and long-term liabilities had fair values of $349,250 and $151,060, respectively, on the acquisition date. Chapman uses the initial value method to account for its investment.

Required:
Prepare consolidation worksheet entries for December 31, 2020, and December 31, 2021

The balance sheet contains the following major sections: current assets long-term investments property, plant, and equipment intangible assets other assets current liabilities long-term liabilities contributed capital retained earnings accumulated other comprehensive income required: the following is a list of accounts. using the letters a through j, indicate in which section of the balance sheet each of the accounts would be classified. if an account does not belong under one of the sections listed, select "not under any of the choices" from the classification drop down box. for all accounts, indicate if the account is a contra account or an account that would normally be deducted on the balance sheet by selecting "yes" from the second drop down box, otherwise select "no". account classification contra or deducted (yes/no) 1. cash 2. bonds payable (due in 8 years) 3. machinery 4. deficit 5. unexpired insurance 6. franchise (net) 7. fund to retire preferred stock 8. current portion of mortgage payable 9. accumulated depreciation 10. copyrights 11. investment in held-to-maturity bonds 12. allowance for doubtful accounts 13. notes receivable (due in 3 years) 14. property taxes payable 15. deferred taxes payable 16. additional paid-in capital on preferred stock 17. premium on bonds payable (due in 8 years) 18. work in process 19. common stock, $1 par 20. land 21. treasury stock (at cost) 22. unrealized increase in value of available-for-sale securities

Chip wilson has hired goldman sachs, an investment banking company, to assist him with a hostile takeover of lululemon. wilson's goal is to hire a new board of directors because he believes there is a need for a more long-term focus. goldman sachs is a proven firm at making a profit in every move that they make. if the hostile takeover does not pan out, what could be another motive for investors?

In order to be thoughtful about the implementation of security policies and controls, leaders must balance the need to reduce with the impact to the business operations. doing so could mean phasing security controls in over time or be as simple as aligning security implementation with the business’s training events.