On January 1, 2017, QuickPort Company acquired 90 percent of the outstanding voting stock of NetSpeed, Inc., for $918,000 in cash and stock options. At the acquisition date, NetSpeed had common stock of $950,000 and Retained Earnings of $47,500. The acquisition-date fair value of the 10 percent noncontrolling interest was $102,000. QuickPort attributed the $22,500 excess of NetSpeed's fair value over book value to a database with a five-year remaining life. During the next two years, NetSpeed reported the following: Net Income Dividends Declared 2017 $ 29,900 $ 2,900 2018 43,000 2,900 On July 1, 2017, QuickPort sold communication equipment to NetSpeed for $15,300. The equipment originally cost $17,400 and had accumulated depreciation of $3,300 and an estimated remaining life of three years at the date of the intra-entity transfer. Compute the equity method balance in QuickPort's Investment in NetSpeed, Inc., account as of December 31, 2018. Prepare the worksheet adjustments for the December 31, 2018, consolidation of QuickPort and NetSpeed.
Solved
Show answers
More tips
- C Computers and Internet How to Format Your C Drive: Detailed Guide and Tips...
- F Food and Cooking How to Properly Cook Buckwheat?...
- F Food and Cooking How Many Grams Are In a Tablespoon?...
- L Leisure and Entertainment Carving: History and Techniques for Creating Vegetable and Fruit Decorations...
- P Photography and Videography How to Choose the Perfect Photo Paper for Your Images?...
- H Health and Medicine What vaccines do children need?...
- H Health and Medicine Reasons for the Appearance of Warts: Everything You Need to Know...
- A Art and Culture How to Learn Screaming: Step-by-Step Guide for Beginners...
- H Health and Medicine Contraceptive Pills After 35: The Importance Of Choosing The Right Medication...
- C Computers and Internet How to Choose a Monitor?...
Answers on questions: Business
- B Business Using the cost of a product with an added markup percentage desired? A . Demand based pricing B. Cost plus pricing C. Competition based pricing D. Price skimming...
- H History What does the building of the erie canal say about the american spirit? how did the canal change the us?...
- M Mathematics 7th grade please solve the problem above. Write a paragraph explaining how you found the solution you must include each step for solving please!!! ...
- M Mathematics A rectangular prism has a surface area of 112 square inches. If it is 2 inches long and 8 inches wide, what is its height?...
Ответ:
https://pad let.com/jb405822/fcdc2ys3sox188m0
Step-by-step explanation: