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# On January 2, 2010, Page Corporation acquired a 90% interest

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in Salcedo Company for \$3,500,000...
On January 2, 2010, Page Corporation acquired a 90% interest in Salcedo Company for \$3,500,000. At that time Salcedo Company had capital stock of \$2,250,000 and retained earnings of \$1,250,000. The book values of Salcedo Company’s assets and liabilities were equal to their fair values except for land and bonds payable. The land had a fair value of \$200,000 and a book value of \$120,000. The outstanding bonds were issued on January 1, 2005, at 9% and mature on January 1, 2015. The bonds’ principal is \$500,000 and the current yield rate on similar bonds is 6%.Required:
A. Assuming interest is paid annually, prepare a Computation and Allocation Schedule for the difference between book value and the value implied by the purchase price in the consolidated statements workpaper on the acquisition date.
B. Prepare the workpaper entries necessary on December 31, 2010, to allocate and depreciate the difference between book value and the value implied by the purchase price.
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Submitted: 1 year ago.Category: Single Problem
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10/14/2016
Business Tutor: Manal Elkhoshkhany, Bachelor's Degree replied 1 year ago
Manal Elkhoshkhany, Bachelor's Degree
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Hello,

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Business Tutor: Manal Elkhoshkhany, Bachelor's Degree replied 1 year ago

You have not been charged anything yet :) The amount you have paid remains in your Just Answer account and does not get transferred to an expert's account until you get the solution. I can post the solution here, and there is a premium service where I can email you the solution. Help through email requires an additional charge of \$5.

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Business Tutor: Manal Elkhoshkhany, Bachelor's Degree replied 1 year ago

If you have questions about the charge, you can contact customer service and they will answer your inquiry, but for me, I need to know your deadline please

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Business Tutor: Manal Elkhoshkhany, Bachelor's Degree replied 1 year ago

Thank you. I will start on the problem right away and post the solution as soon as I am done

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Business Tutor: Manal Elkhoshkhany, Bachelor's Degree replied 1 year ago

Trust me I understand :) Do not worry, you are in safe hands :)

Business Tutor: Manal Elkhoshkhany, Bachelor's Degree replied 1 year ago

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Business Tutor: Manal Elkhoshkhany, Bachelor's Degree replied 1 year ago

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Business Tutor: Manal Elkhoshkhany, Bachelor's Degree replied 1 year ago

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