Pool Industries Paid $540,000 to Purchase 75% of the Outstanding

question 8

Essay

Pool Industries paid $540,000 to purchase 75% of the outstanding stock of Swimmin Corporation,on December 31,2011.Any excess fair value over the identified assets and liabilities is attributed to goodwill.The following year-end information was available just before the purchase:
Required:
1.Prepare Pool's consolidated balance sheet on December 31,2011.

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Definitions:

Middle-Aged Adults

Individuals typically between the ages of 40 and 65, often experiencing significant life and biological changes including career dynamics, family responsibilities, and health transitions.

Psychosocial Generativity

A concept involving the concern for establishing and guiding the next generation, often associated with midlife development.

Erikson

Identifies Erik Erikson, a developmental psychologist and psychoanalyst known for his theory on the psychosocial development of human beings.

Procreativity

The capacity or activity of producing offspring or creative work, often reflecting broader biological, social, or personal meanings.