100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
ACC 402 Advanced Accounting Exam 2 (Ch. 4-6) | Questions And Answers Latest {} A+ Graded | 100% Verified CA$19.44   Add to cart
Quickly navigate to
Preview
  2.  
  3. Top Academic Resources 2024/2025
  4.  
  5. Top Academic Resources 2024/2025

Exam (elaborations)

ACC 402 Advanced Accounting Exam 2 (Ch. 4-6) | Questions And Answers Latest {} A+ Graded | 100% Verified
 5 views  0 purchase
  • Course
  • Top Academic Resources 2024/2025
  • Institution
  • Top Academic Resources 2024/2025

ACC 402 Advanced Accounting Exam 2 (Ch. 4-6) | Questions And Answers Latest {2024- 2025} A+ Graded | 100% Verified

Preview 2 out of 10  pages

Document information

  • August 24, 2024
  • 10
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • acc 402 advanced accounting exam 2 ch 4 6 que

Written for

  • Top Academic Resources 2024/2025
  • Top Academic Resources 2024/2025

Seller

avatar-seller
oneclass

Reviews received

Content preview

ACC 402 Advanced Accounting Exam 2 (Ch. 4-6) | Questions And Answers Latest {2024-
2025} A+ Graded | 100% Verified




When Jolt Co. acquired 75% of the common stock of Yelts Corp., Yelts owned land with a book value of
$70,000 and a fair value of $100,000.



What amount should have been reported for the land in a consolidated balance sheet at the acquisition
date?

A. $70,000.

B. $75,000.

C. $49,000.

D. $100,000 - D. $100,000



When Jolt Co. acquired 75% of the common stock of Yelts Corp., Yelts owned land with a book value of
$70,000 and a fair value of $100,000.



What is the total amount of excess land allocation at the acquisition date?

A. $0.

B. $30,000.

C. $22,500.

D. $25,000. - B. $30,000



When Jolt Co. acquired 75% of the common stock of Yelts Corp., Yelts owned land with a book value of
$70,000 and a fair value of $100,000.



What is the amount of excess land allocation attributed to the controlling interest at the acquisition
date?



A. $0.

B. $30,000.

, C. $22,500.

D. $17,500. - C. $22,500



When Jolt Co. acquired 75% of the common stock of Yelts Corp., Yelts owned land with a book value of
$70,000 and a fair value of $100,000.



What is the amount of excess land allocation attributed to the non-controlling interest at the acquisition
date?



A. $0.

B. $30,000.

C. $22,500.

D. $7,500. - D. $7,500



Perch Co. acquired 80% of the common stock of Float Corp. for $1,600,000. The fair value of Float's net
assets was $1,850,000, and the book value was $1,500,000. The non-controlling interest shares of Float
Corp. are not actively traded.



What is the total amount of goodwill recognized at the date of acquisition?



A. $150,000.

B. $250,000.

C. $120,000.

D. $170,000. - A. $150,000



Perch Co. acquired 80% of the common stock of Float Corp. for $1,600,000. The fair value of Float's net
assets was $1,850,000, and the book value was $1,500,000. The non-controlling interest shares of Float
Corp. are not actively traded.



What amount of goodwill should be attributed to Perch at the date of acquisition?

A. $150,000.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller oneclass. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$19.44. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

62890 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
CA$19.44
  • (0)
  Add to cart