Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                
Scribd Logo
Upload

Welcome to Scribd!

  • 11 views

    Account Debit Credit

    Uploaded by

    McKenzie W
    The document shows journal entries for accounting transactions related to an investment in company W. It records the initial investment, changes in fair value of contingent consideration, amortization of goodwill, and distribution of earnings from the investment.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Account Debit Credit

    Uploaded by

    McKenzie W
    11 views4 pages
    The document shows journal entries for accounting transactions related to an investment in company W. It records the initial investment, changes in fair value of contingent consideration, amortization of goodwill, and distribution of earnings from the investment.

    Original Description:

    acct

    Original Title

    3-34

    Copyright

    © © All Rights Reserved

    Available Formats

    XLSX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document shows journal entries for accounting transactions related to an investment in company W. It records the initial investment, changes in fair value of contingent consideration, amortization of goodwill, and distribution of earnings from the investment.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    11 views4 pages

    Account Debit Credit

    Uploaded by

    McKenzie W
    The document shows journal entries for accounting transactions related to an investment in company W. It records the initial investment, changes in fair value of contingent consideration, amortization of goodwill, and distribution of earnings from the investment.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 4

    A

    Account Debit Credit


    Investment in W 500000
    Cash 465000
    Contingent Consideration 35000

    B
    Account Debit Credit
    2020 Goodwill 5000 40000-35000
    Contingent Obligation 5000
    2021 Loss on Increase Contingent Obligation 10000 5000*2 yrs
    Contingent Obligation 10000
    Contingent Obligation 50000 35000+5000+10000
    Cash 50000
    Account Debit Credit
    S Common Stocks $ 200,000
    Retained Earnings 1/1 $ 180,000 140000 bb + 65000 ni - 25000 div
    Investment in W $ 380,000
    A Royalties $ 90,000 100000-(100000/10)
    Goodwill $ 60,000 465000 pp - 340000 bv + 35000 obligation - 100000 roy
    Investment in W $ 150,000
    I Equity in W $ 65,000 75000 ni - 10000 amort
    Investment in W $ 65,000
    D Investment in W $ 35,000
    Dividends Declared $ 35,000
    E Amortization Expense $ 10,000 100000/10
    Royalties $ 10,000
    - 25000 div

    v + 35000 obligation - 100000 royalties fv


    Account Debit Credit
    *C Retained Earnings $ 30,000 65000 ni - 10000 amort - 25000 div
    Investment in W $ 30,000
    S Common Stocks $ 200,000
    Retained Earnings $ 180,000
    Investment in W $ 380,000
    A Royalties $ 90,000
    Goodwill $ 60,000
    Investment in W $ 150,000
    I Dividend Income $ 35,000
    Dividends Declared $ 35,000
    E Amortization Expense $ 10,000
    Royalties $ 10,000

    You might also like