Pruin Corporation Acquired All of the Voting Stock of Satto

question 9

Essay

Pruin Corporation acquired all of the voting stock of Satto Corporation on January 1, 2013, for $210,000 when Satto had common stock of $150,000 and retained earnings of $24,000.The excess of implied over book value was allocated $9,000 to inventories that were sold in 2013, $12,000 to equipment with a 4-year remaining useful life under the straight-line method, and the remainder to goodwill.
Financial statements for Pruitt and Satto Corporations at the end of the fiscal year ended December 31, 2014 (two years after acquisition), appear in the first two columns of the partially completed consolidated statements workpaper.Pruin Corp.has accounted for its investment in Satto using the partial equity method of accounting.
Required:
Complete the consolidated statements workpaper for Pruin Corporation and Satto Corporation for December 31, 2014.
Pruin Corporation and Satto Corporation
Consolidated Statements Workpaper
at December 31, 2014

Gain an understanding of scientific attitudes and their importance in scientific inquiry.

Recognize the importance and methods of ensuring a sample is representative of a population.

Understand the distinction between hypotheses and theories and their roles in scientific research.

Identify the purpose and benefits of a double-blind study.

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Definitions:

Political Attitudes

The collection of feelings, thoughts, and beliefs about political issues and policies, shaping an individual's political stance.

Electronic Sweatshops

Work environments where employees are subjected to unfair practices, long hours, and low wages in the electronic or digital industries.

Traditional Sweatshops

Work environments characterized by low wages, long hours, and poor working conditions, typically in the manufacturing sector.

Family-Related Challenges

Difficulties and obstacles that arise within the family structure, impacting relationships, financial stability, and the health and well-being of its members.