G Company is considering the takeover of K Company whereby it will is.pdf

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G Company is considering the takeover of K Company whereby it will issue 6,100 common shares for all of the outstanding shares of K Company. K Company will become a wholly owned subsidiary of G Company. Prior to the acquisition, G Company had 19,000 shares outstanding, which were trading at $7.20 per share. The following information has been assembled: Required: (a) Prepare G Company's consolidated balance sheet immediately after the combination using the direct approach and accounting for the combination with (i) The acquisition method (ii) The new-entity method (b) Calculate the current ratio and debt-to-equity ratio for G Company under both methods. (Round your answers to 2 decimal places.) (c) Prepare G Company's consolidated balance sheet immediately after the combination using the worksheet approach and the acquisition method. (Leave no cells blank - be certain to enter "O" wherever required. Values in the first two columns and last column (the "parent", "subsidiary" and "consolidated" balances) that are to be deducted should be indicated with a minus sign, while all values in the "Entry" columns should be entered as positive values. For accounts where multiple adjusting entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet. Omit $ sign in your response.).

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ill in the dollar changes caused in the Investment account and Dividend Revenue or Investment Revenue account by each of the following transactions, assuming Crane Company uses (a) the fair value method and (b) the equity method for accounting for its investments in Hudson Company. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Do not leave any answer field blank. Enter 0 for amounts.) (a) Fair Value Method (b) Equity Method Transaction Investment Account Dividend Revenue Investment Account Investment Revenue 1. At the beginning of Year 1, Crane bought 25% of Hudson's common stock at its book value. Total book value of all Hudson's common stock was $850,000 on this date. 2. During Year 1, Hudson reported $54,000 of net income and paid $27,000 of dividends. 3. During Year 2, Hudson reported $31,500 of net income and paid $20,000 of dividends. 4. During Year 3, Hudson reported a net loss of $12,000 and paid $3,800 of dividends. 5. Indicate the Year 3 ending balance in the Investment account, and cumulative totals for Years 1, 2, and 3 for dividend revenue and investment revenue. Exercise 122 (Part Level Submission) The following information is available for Irwin Company for 2018: Net Income $119,000 Realized gain on sale of available-for-sale debt securities 10,000 Unrealized holding gain arising during the period on available-for-sale debt securities 30,000 Reclassification adjustment for gains included in net income 7,500 (a) Determine other comprehensive income for 2018. Other comprehensive income $ Exercise 123 On January 2, 2018, Tylor Company issued a 4-year, $600,000 note at 8% fixed interest, interest payable semiannually. Tylor now wants to change the note to a variable rate note. As a result, on January 2, 2018, Tylor Company enters into an interest rate swap where it agrees to receive 8% fixed and pay LIBOR of 5.5% for the first 6 months on $600,000. At each 6-month period, the variable interest rate will be reset. The variable rate is reset to 6.6% on June 30, 2018. Compute the net interest expense to be reported for this note and related swap transaction as of June 30, 2018. Net interest expense $ LINK TO TEXT Compute the net interest expense to be reported for this note and related swap transaction as of December 31, 2018. Net interest expense $ Brief Exercise 17-2 Pina Company purchased, on January 1, 2017, as an available-for-sale security, $65,000 of the 8%, 5-year bonds of Chester Corporation for $60,072, which provides an 10% return. Prepare Pina’s journal entries for (a) the purchase of the investment, (b) the receipt of annual interest and discount amortization, and (c) the year-end fair value adjustment. (Assume a zero balance in the Fair Value Adjustment account.) The bonds have a year-end fair value of $61,750. (Round answers to 0 decimal places, e.g. 1,225..

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PROBLEM 8-18: a. Fill in the worksheet with the appropriate values, provide footnotes with calculations as appropriate; Davis Corporation Accounting Equation Event Assets = Liabilities Stockholders’ Equity Cash = Div. . Pay . + Pfd. Stk. + Com. Stk. + PIC in Exc. PS + PIC in Exc. CS  Trea-sury Stock + Ret. Earn. Acct. Title R/E 2012 1/2 1/15 2/14 12/31 12/31 12/31* Bal. = + + + +  + 2013 1/31 3/1 6/1 12/31 12/31 12/31** Bal. = + + + +  + Footnotes: * : Footnotes: **: b. Fill in the worksheet with the appropriate values; Stockholders’ Equity Preferred Stock, $50 par value, 5% cumulative, 50,000 shares authorized, 1,000 shares issued and outstanding Common Stock, $10 par value, 100,000 shares authorized, 20,000 shares issued and outstanding Paid-In Capital in Excess of ParPreferred Stock Paid-In Capital in Excess of ParCommon Stock Total Paid-In Capital Retained Earnings Total Stockholders’ Equity c. Fill in the worksheet with the appropriate values; Davis Corporation Balance Sheet As of December 31, 2013 Assets Cash Total Assets Liabilities Dividends Payable Total Liabilities Stockholders’ Equity Preferred Stock, $50 par value, 5% cumulative, 50,000 shares authorized, 3,000 shares issued and outstanding Common Stock, $10 par value, 100,000 shares authorized, 20,000 shares issued, 19,500 shares outstanding Paid-In Capital in Excess of ParPreferred Stock Paid-In Capital in Excess of ParCommon Stock Total Paid-In Capital Retained Earnings2 Less: Treasury Stock Total Stockholders’ Equity Total Liabilities and Stockholders’ Equity PROBLEM 8-23: This problem requires a brief memo, the completed schedules below and discussions; Advantages Disadvantages Partnership  Ease of formation  Less regulation  Lower effective tax rate  Limited life  Mutual agency  Unlimited liability Corporation  Unlimited life  Limited liability  Capital easier to acquire & ownership easily transferred  More regulation  Higher effective tax rate Partnership Corporation Income before taxes Tax at entity level (30%) Net income distributed to owners Less: Individual income tax (30%/15%) After-tax cash flow After-tax cash flow available to each investor* Effective tax rate* * show calculations PROBLEM 7-26: a. Fill in the worksheet with the appropriate values, provide footnotes with calculations as appropriate; Artesia Co. Effect of Events on the General Ledger 2012 and 2013 Asset.

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