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Advanced accounting 12e beams et al chapter 2 stock investments investor accounting and reporting 2 1 multiple choice questions 1 what method of accounting will generally be used when one company purchases less than 20 of the outstanding stock of another company. Solutions manual for advanced accounting 13th edition by beams pdf. PDF Edition - Version 0. A friend is going to send me photos of the problems this week, but it'd be nice to have it in the future.
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Search this site. Stipanuk PhD, Marie A. Donatelle, Patricia Ketcham. Ember, Melvin R. Follow our Instagram. Beams Bruce Bettinghaus Authors. Beams Kenneth Smith Rent Buy. Read also advanced and advanced accounting 12th edition beams solutions Anthony Bruce Bettinghaus Floyd A. The remaining reduces the investment account balance. In addition, the investment and investment income accounts are adjusted for amortization of any investment cost-book value differentials related to the interest acquired.
Adjustments to the investment and investment income accounts are also needed for unrealized profits and losses from transactions between the investor and investee companies. The equity method reports investment income on one line of the income statement whereas the details of revenues and expenses are reported in the consolidated income statement. The amount of the adjustment is the difference between the investment income reported under the cost method in prior years and the income that would have been reported if the equity method of accounting had been used.
The allocation is not necessary when the investee has only common stock outstanding. For each reporting unit, the company must first determine the fair values of the net assets.
The fair value of the reporting unit is the amount at which it could be purchased in a current market transaction. This may be based on market prices, discounted cash flow analyses, or similar current transactions. This is done in the same manner as is done to originally record a combination. The first step requires a comparison of the carrying value and fair value of all the net assets at the business reporting level.
If the fair value exceeds the carrying value, goodwill is not impaired and no further tests are needed. If the carrying value exceeds the fair value, then we proceed to step two. In step two, we calculate the implied value of goodwill. Any excess measured fair value over the net identifiable assets is the implied fair value of goodwill. Impairment losses for subsidiaries are computed as outlined in the solution to question Companies compare fair values to book values for equity method investments as a whole.
Firms may recognize impairments for equity method investments as a whole, but perform no separate goodwill impairment tests. They are not a part of the cost of the investment.
Solution E Goodwill impairments are calculated at the business reporting unit level.
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