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Revenues
Cost of goods sold
Depreciation expense
Amortization expense
Income from O'Brien
Net Income
Retained Earnings 1/1
Net income
Dividends declared
Retained earnings 12/31
Cash
Receivables
Inventory
Investment in O'Brien
Trademarks
Customer relationships
Euipement (net)
Goodwill
Total assets
Liabilities
Common stock
Retained earnings 12/31
Total liabilites and equities
2013
2014
2015
Revenues- operating
Expenses
Equipment (net)
Buildings (net)
Common stock
Retained earnings, 12/31/15 balance
Fair values
160,000
75,000
312,000
he end of the first year for these two companies prepared from their
t balances are indicated by parentheses.
Patrick
(1,125,000)
300,000
75,000
25,000
(210,000)
(935,000)
O'Brien
(520,000)
228,000
70,000
(222,000)
(700,000)
(935,000)
142,000
(1,493,000)
(250,000)
(222,000)
80,000
(392,000)
185,000
225,000
105,000
56,000
175,000
680,000
474,000
925,000
2,664,000
(771,000)
(400,000)
(1,493,000)
(2,664,000)
135,000
60,000
272,000
628,000
(136,000)
(100,000)
(392,000)
(628,000)
r has used the equity method. Selected accounts taken from the fina
Tyler Company
Jasmine Company
(310,000)
198,000
320,000
220,000
(290,000)
(410,000)
(104,000)
74,000
50,000
68,000
(50,000)
(160,000)
31/15.
ss how you determined which accounting method Patrick uses for its
ain the totals to be reported for this business combination for the yea
eet for Patrick and OBrien for the year ending December 31.
uary 1, 2013, for $ 206,000 in cash. Jasmine had a book value of onl
on Jasmines financial records. A building with a 20- year life was ove