Question Details

The separate balance sheets of Platt Company




The separate balance sheets of Platt Company and its wholly owned subsidiary, Speer Company, as of the date of acquisition are shown below.

Assets	       Platt               	       Speer        	Consolidated      Data     
Cash	$   170,000	$     57,000	
Accounts Receivable	240,000	283,000	
Inventory	100,000	300,000	
Equipment (net)	300,000	486,000	
Investment in Speer Co.	     810,000	                  	
Totals	$1,620,000	$1,126,000	
Liabilities and Stockholders’ Equity
Accounts Payable	250,000	166,000	
Bonds Payable	120,000	150,000	
Common Stock	1,000,000	630,000	
Equipment (net)	250,000	     180,000	
Totals	$1,620,000	$1,126,000	

Instructions
(Provide the amount that should appear in the Consolidated Data column for each of the selected accounts. If the accounts should not appear in the Consolidated Data column, indicate “None”. Assume that all accounts have normal balances and that Speer Company stock was acquired for cash at a price equal to its book value.




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