Presented below is information related to Blossom Company.

1. On July 6, Blossom Company acquired the plant assets of Doonesbury Company, which had discontinued operations. The appraised value of the property is:

Land $372,000

Buildings 1,116,000

Equipment 744,000

Total $2,232,000

Blossom Company gave 12,500 shares of its $100 par value common stock in exchange. The stock had a market price of $171 per share on the date of the purchase of the property.

2. Blossom Company expended the following amounts in cash between July 6 and December 15, the date when it first occupied the building. (Prepare consolidated entry for all transactions below.)

Repairs to building $107,860

Construction of bases for equipment to be installed later 135,500

Driveways and parking lots 131,060

Remodeling of office space in building, including new partitions and walls 162,550

Special assessment by city on land 19,750

3. On December 20, the company paid cash for equipment, $274,800, subject to a 2% cash discount, and freight on equipment of $11,540.

Prepare entries on the books of Blossom Company for these transactions

Vander Company acquired the net assets of Howe Company for $190,000. Vander issued 5000 shares of its $1 par common stock to complete the transaction. Vander's stock was selling for $38 a share on the date of acquisition. On the date of acquisition Howe reported the following:

Prepare the journal entry that Vander Company recorded on the date of the acquisition of Howe’s net assets

On July 1, 2018, Truman Company acquired a 70 percent interest in Atlanta Company in exchange for consideration of $772,275 in cash and equity securities. The remaining 30 percent of Atlanta’s shares traded closely near an average price that totaled $330,975 both before and after Truman’s acquisition.

In reviewing its acquisition, Truman assigned a $132,000 fair value to a patent recently developed by Atlanta, even though it was not recorded within the financial records of the subsidiary. This patent is anticipated to have a remaining life of five years.

The following financial information is available for these two companies for 2018. In addition, the subsidiary’s income was earned uniformly throughout the year. The subsidiary declared dividends quarterly.

1. How did Truman allocate Atlanta’s acquisition-date fair value to the various assets acquired and liabilities assumed in the combination?

2. How did Truman allocate the goodwill from the acquisition across the controlling and noncontrolling interests?

3. How did Truman derive the Investment in Atlanta account balance at the end of 2018?

4. Prepare a worksheet to consolidate the financial statements of these two companies as of December 31, 2018. At year-end, there were no intra-entity receivables or payables.

Company A acquired 100% of Company B's voting stock on January 1, 2018 by issuing 10,000 shares of its $10 par value common stock. Company A's common stock had a fair value of $14 per share at that time. Company B's stockholder's equity was $105,000 at date of acquisition. The trademark was undervalued by $10,000. It has an indefinite life. Equipment (with a 5 year life) was undervalued by $5,000. A customer list that had been created internally had an estimated useful life of 20 years was valued at $20,000.

Below are the financial statements for the two companies for the year ending December 31, 2018. Credit balances are indicated by (parentheses). Complete the trial balance of A Company (calculate income of sub and investment in sub) by using the three different investing accounting methods; Equity, Intial Value, and Partial Equity. Then, continue by preparing a consolidated worksheet for year ended Dec. 31, 2018. Include your consolidation and elimination entries in journal form.

Question 11 pts

In the 20th century the U.S.

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Question 21 pts

The US dollar would be most likely to fall if:

Prepare the journal entry recording pension expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)