Discussion Post
• Explain how Sloan's negative retained earnings balance is reflected in the consolidated balance sheet immediately following the acquisitions.
• Can goodwill be recorded if Jacobs pays more than book value for Sloan's shares? Explain.
• Explain how the existence of negative retained earnings changes the consolidation worksheet entries.
Taking Account of Ethics
Access the AICPA's Code of Professional Conduct:
On ET section 102 integrity and Objectivity is related professional work ethic.
Knowing misrepresentations in the preparation of financial statements or records obligations of a member to his or her employer's external accountant.
The response should include a reference list. One-inch margins, Using Times New Roman 12 pnt font, double-space and APA style of writing and citations.