Sb Following Are Selected Accounts For Green Following Are Selected Accounts For

SB Following are selected accounts for Green…

Following are selected accounts for Green Corporation and Vega Company as of December 31, 2020. Several of Green’s accounts have been omitted.

 Green VegaRevenues$900,000  $500,000 Cost of goods sold 360,000   200,000 Depreciation expense 140,000   40,000 Other expenses 100,000   60,000 Equity in Vega’s income ?     Retained earnings, 1/1/2020 1,350,000   1,200,000 Dividends 195,000   80,000 Current assets 300,000   1,380,000 Land 450,000   180,000 Building (net) 750,000   280,000 Equipment (net) 300,000   500,000 Liabilities 600,000   620,000 Common stock 450,000   80,000 Additional paid-in capital 75,000   320,000  

Green acquired 100% of Vega on January 1,2016, by issuing 10,500 shares of its $10 par value common stock with a fair value of $95 per share. On January 1, 2016, Vega’s land was undervalued by $40,000, its buildings were overvalued by $30,000, and equipment was undervalued by $80,000. The buildings have a 20-year life and the equipment has a 10-year life. $50,000 was attributed to an unrecorded trademark with a 16-year remaining life. There was no goodwill associated with this investment.

  1. Compute the December 31, 2020, consolidated total expenses.
  2. Compute the December 31, 2020, consolidated buildings.
  3. Compute the December 31, 2020, consolidated equipment.
  4. Compute the December 31, 2020, consolidated land.
  5. Compute the December 31, 2020, consolidated trademark.
  6. Compute the December 31, 2020, consolidated common stock
  7. Compute the December 31, 2020 consolidated retained earnings.
  8. Compute the December 31, 2020, consolidated revenues.

"Order a similar paper and get 100% plagiarism free, professional written paper now!"

Order Now