Payment is received on january 10, 2021. Iappendix a american eagle outfitters, inc., 2020 annual reportfinancial information for american eagle is presented in appendix a at the end of the book. At december 31, 2020, indigo girls company has outstanding noncancelable purchase commitments for 36,000 gallons, at $3.00 per gallon, of raw material to be used in its manufacturing process. On january 1, 2020, parent company acquired 70 percent of the outstanding voting stock of subsidiary, inc., for a total of $805,000 in cash and other consideration. On january 1, 2020, procise corporation acquired 100 percent of the outstanding voting stock of gaugerite corporation for $2,133,050 cash. On january 1, 2020, james company purchased 100 percent of the outstanding voting stock of nolan, inc., for $1,000,000 in cash and other consideration
At the purchase date, nolan had common stock of $500,000 and retained earnings of $185,000. Sells 1,150 beverages in glass bottles and receives a $1.00 deposit for each returnable bottle sold As of december 31, 2020, a total of 920 glass bottles were returned and deposits on 138 bottles were forfeited because it is the company's policy that a deposit must be claimed within.
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