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E 1.

1 a) 209 3 212 On 2010 balance sheet Coca-cola will pay for the trading securities for 212 millions Unrealized gains and losses will be reported in under income Investment in trading securitites 212 Cash 212 Unrealized loss (income) 3 Investment in trading securities 3 Cash 215 Investment in trading securities 209 Realized gains (income) 6 a, Impairment loss (income) OCI Investment in AFS securities Investments in AFS securities Unrealized gain (OCI) Cash Unrealized gain (OCI) Investment in AFS securities Realized gain in AFS securities (income) Interest Income 208903.64 207259.786 205550.177 203772.184 201923.071 Amortization 41096.36 42740.2144 44449.823 46227.8159 48076.9285

b) c)

d)

E1.2

26 19 7 83 83 55 6 50 11 Investment balance 5222591 5181494.64 5138754.43 5094304.6 5048076.79 4999999.86

b.

E1.3 1/1/2013 12/31/2013 12/31/2014 12/31/2015 12/31/2016 12/31/2017

1/1/2013 Investment in HTM securities Cash 12/31/2013 Cash Investment Income Investment in HTM securities 12/31/2014 Cash Investment Income 5222591 5222591 250000 208903.64 41096.36 250000 207259.786

Investment in HTM securities 12/31/2015 Cash Investment Income Investment in HTM securities 12/31/2016 Cash Investment Income Investment in HTM securities 12/31/2017 Cash Investment Income Investment in HTM securities Cash Investment in HTM securities P1.6 a) b) 5000000 250000 250000 250000

42740.2144 205550.177 44449.823 203772.184 46227.8159 48076.9285 48076.9285 5000000

Bristol has aquired (500000/2)*40% 100000 shares Manchester's net income Adjusted for Bristol's share of revaluation write-offs Reduction in cost of goods sold Depreciation on revaluation of P&E Amortization of franchises ( Equity in Manchester net income

720 160 28 -80 828

P3.3

a. Investment in Pharmacia Merger expenses Common stock Additional paid-in capital cash b. Acquisition cost Pharmacia book value Excess of fair value over book value Inventory Long-term investments Property, plant and equipment In process R&D Developed technology rights Long-term debt Other assets Goodwill 55872.75 101 91 55781.75 101

55873 -7236 48637 2939 40 -317 5051 37066 -1841 -15606

27332 21305

c. (E) Stockholders' equity Investment (R ) Inventory Long-term investments In-process R&D Developed technology rights Goodwill Property plant and equipment Long-term debt other assets Investment in Pharmacia P 3.7 a. Price symbol tech Goodwill IPR&D 3528 2300 -3395 Fairvalue of tangible net 133 asset Good tech 438 -459 Fairvalue of tangible net -21 asset Netopia 183 -222 Fairvalue of tangible net -39 asset Terayon 137 -154 Fairvalue of tangible net -17 asset 301

7236 7236 2939 40 5051 37066 21305 317 1841 15606 48637 Other 95 1000

Fair value of tangible net assets

158

122

100

102

52

b.

The fair values of the tangible liabilities of Good Technology, Netopia, and Terayon are

c. (E) Stockholders' equity Investment in acquiree (R ) Goodwill IPR&D

Symbol Tech 100 100 2300 95

Good Tech 30

301

Other identficable intangibles 1000 Tangible net assets 33 Investment in acquiree d.

158 3428

IPR&D reflects the estimated fair value of projects that have not yet resulted in viable pr

"At the date of acquisition, 31 projects were in process and are expected to be completed through 2008. The

P3.12 (1)-(6) (1)-(3) (4)-(6)

US GAAP do not consolidate because under SFAS 94, there are no majority ownership IFRS Absent evidence to the contrary, these cases state that Andrews has effective con cannot be determined it depends on whether Andrews' has "enough" effective co case 4>case5>case6

212 millions (millions) (millions) (millions) (millions) (millions) (millions) (millions)

(millions) (millions) (millions) (millions) (millions)

(150-131) (26-7) (102-19)

vestment balance

1400 decline (4200-1300)-1500

(millions) (millions) (millions) (millions) (millions)

air value of tangible net assets acquired

ogy, Netopia, and Terayon are greater than the fair values of their assets, and since net book values are positive, the fair values of

Netopia 10 30 122 10

Terayon 15 15 102

100 51 408 49 173

52 154

ve not yet resulted in viable products. Fair value is generally based on the present value of future expected cash flows."

be completed through 2008. The average risk adjusted rate used to value these projects is 15-16%. The allocation of value to in-process rese

re are no majority ownership hat Andrews has effective control (large minority interstest and vote cast) so should consolidate ws' has "enough" effective control

are positive, the fair values of net tangible assets must be less than related book values. We can see that the book values of liabi

expected cash flows."

cation of value to in-process research and development was determined using expected future cash flows discounted at average risk adjuste

ee that the book values of liabilities are generally close to fair value, the cause is likely to be a decline in the value of tangible ass

iscounted at average risk adjusted rates reflecting both technological and market risk as well as the time value of money. (Source: Motorola

ine in the value of tangible assets. For technology companies, tangible assets such as equipment are likely to lose resale value qu

lue of money. (Source: Motorola, Inc. annual report, 2007)

re likely to lose resale value quickly.

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