Several Years Ago Polar Inc

question 59

Essay

Several years ago Polar Inc. acquired an 80% interest in Icecap Co. The book values of Icecap's asset and liability accounts at that time were considered to be equal to their fair values. Polar's acquisition value corresponded to the underlying book value of Icecap so that no allocations or goodwill resulted from the transaction.
The following selected account balances were from the individual financial records of these two companies as of December 31, 2011:
-Polar sold a building to Icecap on January 1, 2010 for $112,000, although the book value of this asset was only $70,000 on that date. The building had a five-year remaining useful life and was to be depreciated using the straight-line method with no salvage value.
Required:
For the consolidated financial statements for 2011, determine the balances that would appear for the following accounts: (1) Buildings (net), (2) Operating expenses, and (3) Noncontrolling Interest in Subsidiary's Net Income.

Recognize benign skin tumors and differentiate them from malignant ones.

Comprehend symptoms and treatments of systemic diseases like hyperthyroidism.

Identify diagnostic tests for cardiac conditions and their purposes.

Understand the symptoms, causes, and treatments of common musculoskeletal disorders.

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Definitions:

Inpatient Care

The type of institutionalized care that is required, for example, as an illness progresses and that may be provided in a hospice facility.

Medical Model

A framework that views diseases primarily as biophysical processes which can be clinically diagnosed and treated by healthcare professionals.

Acute-Care Hospital

A hospital that provides short-term treatment for severe injuries or illnesses, and urgent medical conditions.

Labeling Theory

Theory based on the idea that whether other people define or label a person as deviant is a critical determinant in the development of a pattern of deviant behavior.