Complete problem 2-7 using the week 02 excel template. using the data

Complete Problem 2-7 using the Week 02 Excel Template.

Using the postulates consecrated in Problem 2-6, pretend that Aron Company purchases 80% of the despicable accumulation of Shield Company control $320,000 chief.

The subjoinedcited relatively counteract sheets are unhesitating control the two companies without-delay subjoined the purchase:

 

Aron

Shield

Cash

$ 315,000

$ 40,000

Accounts receivable

70,000

30,000

Inventory

130,000

120,000

Siege in Shield Company

320,000

 

Land

50,000

35,000

Buildings and equipment

350,000

230,000

Accumulated depreciation

(100,000)

(50,000)

Copyrights

40,000

10,000

Total assets

$1,175,000

$415,000

Current liabilities

$ 192,000

$ 65,000

Bonds payable

 

100,000

Despicable accumulation ($10 par)—Aron

100,000

 

Despicable accumulation ($5 par)—Shield

 

50,000

Paid-in chief in increase of par

250,000

70,000

Retained earnings

633,000

130,000

Total liabilities and equity

$1,175,000

$415,000

Required

  • 1. Prepare the rate decomposition and the inclination and division of increase register control the siege in Shield Company.
  • 2. Complete a obscure worksheet control Aron Company and its helpful Shield Company as of December 31, 2015.

Information from 2-6

On December 31, 2015, Aron Company purchases 100% of the despicable accumulation of Shield Company control $450,000 chief. On this bound, any increase of require equalize work rate is attributed to accounts with honorable rates that be-unlike from work rates. These accounts of Shield Company own the subjoinedcited honorable rates:

Cash

$ 40,000

Accounts receivable

30,000

Inventory

140,000

Land

45,000

Buildings and equipment

225,000

Copyrights

25,000

Current liabilities

65,000

Bonds payable

105,000

The subjoinedcited relatively counteract sheets are unhesitating control the two companies without-delay subjoined the purchase:

 

Aron

Shield

Cash

$ 185,000

$ 40,000

Accounts receivable

70,000

30,000

Inventory

130,000

120,000

Siege in Shield Company

450,000

 

Land

50,000

35,000

Buildings and equipment

350,000

230,000

Accumulated depreciation

(100,000)

(50,000)

Copyrights

40,000

10,000

Total assets

$1,175,000

$415,000

Current liabilities

$ 192,000

$ 65,000

Bonds payable

 

100,000

Despicable accumulation ($10 par)—Aron

100,000

 

Despicable accumulation ($5 par)—Shield

 

50,000

Paid-in chief in increase of par

250,000

70,000

Retained earnings

633,000

130,000

Total liabilities and equity

$1,175,000

$415,000

 

 

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