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QUESTION

had the following stockholders' equity accounts as of January 01, 2013:

Can you please help me with the following

Thomas Inc. had the following stockholders' equity accounts as of January 01, 2013:

Preferred stock - $90 par value, nonvoting and nonparticipatin;

   9% cumulative dividend                                                                                      $2,700,000

Common stock - $25 par value                                                                             $5,600,000

Retained eanings                                                                                                     $14,000,000

Kuried Co. acquired all of the voting common stock of Thomas on January 01, 2013, for $20656,000. The preferred stock remained in the hands of outside parties and had a fair value of $3,060,000. A database valued at $656,000 was recognized and amortized over five years.

During 2013, Thomas reported earning $630,000 in net income and paid $504,000 in total cash dividends. 

Kuried used the equity method to account for this investment. 

Prepare all consolidation entries for 2013. 

This includes a controlling part along with a non-controlling party. 

Can somebody please help me?

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