On January 1, 2014, Parkway, Inc., issued securities with a total fair value of $450,000 for 100 percent of Skyline Corporation’s outstanding ownership shares. Skyline has long supplied inventory to Parkway, which hopes to achieve synergies with production scheduling and product development with this combination. Although Skyline’s book value at the acquisition date was $300,000, the fair value of its trademarks was assessed to be $30,000 more than their carrying amounts. Additionally, Skyline’s patented technology was undervalued in its accounting records by $120,000. The trademarks were considered to have indefinite lives, and the estimated remaining life of the patented technology was eight years. In 2014, Skyline sold Parkway inventory costing $30,000 for $50,000. As of December 31, 2014, Parkway had resold only 28 percent of this inventory. In 2015, Parkway bought from Skyline $80,000 of inventory that had an original cost of $40,000. At the end of 2015, Parkway held $28,000 of inventory acquired from Skyline, all from its 2015 purchases. During 2015, Parkway sold Skyline a parcel of land for $95,000 and recorded a gain of $18,000 on the sale. Skyline still owes Parkway $65,000 related to the land sale. At the end of 2015, Parkway and Skyline prepared the following statements in preparation for consolidation
b. Prepare a 2015 consolidated worksheet for Parkway and Skyline.
Following the Z score proposed by Edward Altman, calculate the Z score of a firm with the following financial ratios: EBIT/total assets = .12 Sales/total assets = 1.4...Jan 09 2020
Permanent Fiscal Expansion in PracticeChapter 17â€™s discussion of â€œInflation Bias and Other Problems of Policy Formulationâ€ suggests that there may not really be any...Aug 09 2020
Use the following information to work Problems 3 to 5.The U.S. economy is at full employment when the world price of oil begins to rise sharply. Short-run aggregate suppl...Dec 05 2019
I've gone through learning Integration without in depth understanding (Most textbooks just throw examples at you without explaining the actual theory behind it) but i wan...Apr 28 2020
If x,y,z are three consecutive numbers, x^2 has unit digit 4, and y^2 has unit digit 1, find the unit digit of z^2. >Aug 03 2020
The most recent financial statements for Dockett, Inc., areshown here (assuming no income taxes):Income StatementBalance Sheet Sales9,400 Assets19,050 Debt6,050 Costs...Dec 02 2019
You borrow $75,000 for 30 years at 11% interest compounded annually. The value of the property is $100,000, PGI= $20,000, vacancy rates are 8%, and operating expenses are...May 17 2020
Chapter 3 Assignment1. Human capital theory has been advanced as a rationale underlying seniority pay. Identify two individuals you know who have performed the same job f...May 21 2020
On July 4, Swifty Corporation accepts a Visa card for a $150 dinner bill. Visa charges a 4% service fee. Prepare the entry on Swifty Corporation's books related to th...Mar 22 2020
Consider an experiment where a researcher is attempting to measure the thermal conductivity of a copper bar. The researcher applies a heat input 00 to a copper bar and u...Jul 26 2020
Welcome to MyCourseHelp Services, World's leading Academic solutions provider with Millions of Happy Students.