Accounting Case Problem

I need the following Accounting Case Problem done by 7/2 @ 16:30 pm (4:30) eastern time please:

Tony Computer Services Corporation trades 50% of its common stock for the rights to certain computer programs of the Janet Corporation.  Janet previously expensed such costs of developing these computer programs.  Tony concurrently sold the other 50% interest in its stock to the Jeannette Company for $1,000,000.  Tony later acquired in another transaction,  the rights to the Udder Computer Company’s computer programs in exchange for stock valued at $1,500,000.  Tony, thus, debited Investments in Subsidiaries and credited Earnings for $1.5 million to reflect this latest transaction.  How should Tony’s consolidated financial statement reflect the value of the expensed computer programs? 

 

It needs to be written out with steps 1-5 for accounting research

1. Identify the issue/s

2. Collect the Evidence

3. Analyze and evaluate alternatives

4. Develop Conclusion

5. Communicate results and document

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