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On january 1, 2010 porter company purchased an 80% interest in the capital stock of salem company for 850000. at that time, salem company had a capital stock for %550,000 and retained earnings for $80,000. Differences between the fair value and the book value of the identifiable assets are salem company were as follows. Equipment $130,000
Land 65000, and inventory 40,000. The book values of all other assets and liabilities of salem company were equal to their fair values on january 1,2010. The equipment had a remaining life of five years n Jan1. The inventory was sold in 2010. 2010 net income $100,000; dividends declared of $25,000. 2011 net incoe $110,000; dividends declared $35,000
Prepare a computation and allocation schedule for the difference between book value of equity aquired and the value implied by the pruchase price.
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The following procedure is recommended when creating financial statements in Excel, in order to minimize error and make the statements easier to read when provided to others
Compute the Net Working Capital and the Current Ratio given the following information. A hotel, in addition to reporting depreciation expense on its income statement, mention
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Historically, warranty expenditures have been equal to 4% of sales. Total sales for the year were $650,000. Actual warranty repairs made during the year totaled $29,000.
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