Modern Advanced Accounting

On January 1, 2020, Pinnacle Corporation exchanged $3,200,000 cash for 100 percent of the outstanding voting stock of Strata Corporation. […]

On January 1, 2020, Prestige Corporation acquired 100 percent of the voting stock of Stylene Corporation in exchange for $2,030,000

Allison Corporation acquired all of the outstanding voting stock of Mathias, Inc., on January 1, 2020, in exchange for $5,875,000

Giant acquired all of Small’s common stock on January 1, 2017, in exchange for cash of $770,000. On that day,

On January 3, 2019, Persoff Corporation acquired all of the outstanding voting stock of Sea Cliff, Inc., in exchange for

Following are separate financial statements of Michael Company and Aaron Company as of December 31, 2021 (credit balances indicated by

What is consolidated net income for 2021? a. $194,000 b. $197,500 c. $203,000 d. $238,000 On January 1, 2019, Pride

The following are selected account balances from Penske Company and Stanza Corporation as of December 31, 2021: On January 1,

On January 1, 2020, Grand Haven, Inc., reports net assets of $760,000 although equipment (with a four-year remaining life) having

Foxx Corporation acquired all of Greenburg Company’s outstanding stock on January 1, 2019, for $600,000 cash. Greenburg’s accounting records showed