question 52
Multiple Choice
Parent Inc. and Sub Inc. had the following balance sheets on July 31, 2019: Cash Accounts Receivable Inventory Plant and Equipment (net) Goodwill Trademark Total Assets Current Liabilities Bonds Payable Common Shares Retained Earnings Total Liabilities and Equity Parent Inc (caryying value) $180,000$100,000$60,000$200,000$−$−$540,000$80,000$320,000$90,000$50,000$540,000 Sub Inc (carrying value) $36,000$40,000$24,000$80,000$8,000$12,000$200,000$50,000$20,000$80,000$50,000$200,000 Sub Inc (fair value) $36,000$40,000$27,000$93,000$15,000$50,000$24,000 Assuming that Parent Inc acquires 80% of Sub Inc on August 1, 2019 for cash of $180,000, the assets section of Parent's consolidated balance sheet on the date of acquisition would total what amount if the proportionate consolidation method were used?
Definitions:
Statistical Information
Data that has been collected, analyzed, and presented in a numerical format, often used to support research, policy-making, and decision-making processes.
Effective Communication
A process of exchanging information clearly and efficiently between individuals or groups.
Medical Decisions
Choices made by patients and healthcare professionals regarding the course of treatment or interventions based on clinical judgement and patient preferences.
Nonmaleficence
A fundamental principle in medical ethics that obligates healthcare providers to avoid causing harm to patients.