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Manal Elkhoshkhany
Manal Elkhoshkhany, Bachelor's Degree
Category: Multiple Problems
Satisfied Customers: 9833
Experience:  Completed by BA degree in 1988 and graduated with a GPA of 4.0
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Customer Question

Customer: Hi. ***** *****. I am trying to get an answer to the accounting question for the page I am currently on.
JA: Thanks. Can you give me any more details about your issue?
Customer: 1. On January 1, 2011, John Doe Enterprises (JDE) acquired a 55% interest in Bubba Manufacturing, Inc. (BMI). JDE paid for the transaction with $3 million cash and 500,000 shares of JDE common stock (par value $1.00 per share). At the time of the acquisition, BMI's book value was $16,970,000On January 1, JDE stock had a market value of $14.90 per share and there was no control premium in this transaction. Any consideration transferred over book value is assigned to goodwill. BMI had the following balances on January 1, 2011.For internal reporting purposes, JDE employed the equity method to account for this investment. The following account balances are for the year ending December 31, 2011 for both companies.Required:Prepare a consolidation worksheet for this business combination. Assume goodwill has been reviewed and there is no goodwill impairmentRead more: http://www.justanswer.com/finance/5sehg-need-help-preparing-business-consolidation-using-equity.html#ixzz3nuQnuE00
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Submitted: 1 year ago.
Category: Multiple Problems
Customer: replied 1 year ago.
this please.Question # *****:Show the calculation for the Equity in Income of Bubba Manufacturing of $4,361,500 and the Investment in Bubba Manufacturing of $13,161,500 (both numbers appear on the above financial statements and are shown in bold) [5 points]
Expert:  Manal Elkhoshkhany replied 1 year ago.

Hello

Please Click on the following link to download the solution:

https://app.box.com/s/gjt7gazctgx08e6tvdxuufcn06746oub

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