Prepare an allocate schedule, income and investment balance

Earth-Q Corporation paid $1,680,000 for a 30 interest in Tremor Corporation’s outstanding voting stock on January 1, 2006. The book values and fair values of Tremor’s assets and liabilities on January 1, along with amortization data, are as follows:

Book Value Fair Value
Cash $400,000 $400,000
AR-net 700,000 700,000
Inventories (sold in 2006) 1,000,000 1,200,000
Other current assets 200,000 200,000
Land 900,000 1,700,000
Buildings-net (10 yr remaining life) 1,500,000 2,000,000
Equipment-net (7 yr remaining life) 1,200,000 500,000
Total Assets 5,900,000 6,700,000

AP 800,000 800,000
Other current liabilities 200,000 200,000
Bonds payable (due Jan. 1, 2013) 1,000,000 1,100,000
Capital stock $10 par 3,000,000
Retained earnings 900,000
Total equities 5,900,000

Tremor Corporation reported net income of $1,200,000 for 2006 and paid dividends of $600,000.

1. Prepare a schedule to allocate the investment cost/book value differentials relating to Earth-Q’s investment in Tremor.
2. Calculate Earth-Q’s income fom Tremor for 2006.
3. Determine the balance of Earrth-Q investment of Tremor account at December 31, 2006.

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with AssignmentHelpWeb
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
English 101
Very good job. I actually got an A
Customer 452443, September 25th, 2022
Architecture, Building and Planning
The assignment was well written and the paper was delivered on time. I really enjoyed your services.
Customer 452441, September 23rd, 2022
The paper was EXCELLENT. Thank you
Customer 452449, September 23rd, 2022
excellent loved the services
Customer 452443, September 23rd, 2022
Excellent services will definitely come back
Customer 452441, September 23rd, 2022
Customer reviews in total
Current satisfaction rate
3 pages
Average paper length
Customers referred by a friend
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat