ACC 577 OUTLET Great Stories /acc577outlet.com ACC 577 OUTLET Great Stories /acc577outlet.com

ACC 577 Final Exam Guide FOR MORE CLASSES VISIT www.acc577outlet.com All Questions Details given below (Please Check) ACC 577 Final Exam Study Question 1 At the time Company P acquired controlling interest of Company S the following accounts and balances existed on the books of the two companies: Which one of the following amounts should be eliminated in preparing a consolidated balance sheet immediately following the business combination? Question 2 In which one of the following cases will a non-cash asset transferred as consideration in a business combination be measured at carrying value, not at fair value? Question 3 On January 1, 200x Ritt Corp. purchased 80% of Shaw Corp.'s $10 par common stock for $975,000. On this date, the carrying amount of Shaw's net assets was $1,000,000. The fair values of Shaw's identifiable assets and liabilities were the same as their carrying amounts except for plant assets (net) which were $100,000 in excess of the carrying amount. On that date, the fair value of the 20% non controlling interest in Shaw was appropriately determined to be $200,000. For the year ended