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Business, 26.11.2019 02:31 madisonwr

During purchase negotiations, miller's plant assets were appraised at $425,000 and all of its remaining assets and liabilities were appraised at values approximating their book values. healy also concluded that an additional $75,000 (for goodwill) demanded by miller's shareholders was warranted because miller's earning power was better than the industry average. prepare the consolidating adjustments and the consolidated balance sheet at acquisition.

healy miller consolidating adjustments consolidated
current assets $1,700,000 $120,000 answer $answer
investment in miller 500,000 - answer answer
plant assets, net 3,000,000 410,000 answer answer
goodwill - - answer answer
total assets $5,200,000 $530,000 $answer
liabilities $ 700,000 $ 90,000 answer $answer
contributed capital 3,500,000 400,000 answer answer
retained earnings 1,000,000 40,000 answer answer
total liabilities & stockholders' equity $5,200,000 $530,000 $answer

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