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The core values for this course are integrity and excellence. Applying the values of integrity and excellence, discuss ethical considerations of accounting for business combinations in a manner that prevents misunderstanding in the questions below.
Business combinations have become an important strategic move by corporations for various reasons.
a.Discuss the various types of business combinations.
b.Why may companies seek to engage in business combinations?
Discuss the importance of understanding the GAAP behind business combinations before performing the accounting. Additionally, why is it important that accountants report the numbers as dictated by GAAP regardless of what they may be?
Discuss at least three significant differences between IFRS and GAAP.
Fabrice Corp. requires a minimum $6,200 cash balance. If necessary, loans are taken to meet this requirement at a cost of 1% interest per month (paid monthly).
Kentucky Enterprises purchased a machine on January 2, 2010, at a cost of $120,000. An additional $50,000 was spent for installation, but this amount was charged erroneously to repairs expense. The machine has a useful life of five years and a sal..
Francisca wants to give its sales staff a $60,000 increase in salary but still wants to make the same net operating income. If Francisca gives this increase, by how much would sales at Francisca have to increase in order for the company to maintai..
Rapid Auto has over 200 auto-maintenance service outlets nationwide. It provides primarily two lines of service: oil changes and brake repair.
kobe is a single dad with dependent children lizzie age 7 and leslie age 3 he has agi of 51,000 and paid 6,300 to a qualified day care center what amount of credit can kobe receive for the child and dependent care credit?
How many of the above items will appear as a cash inflow from investing activities on a statement of cash flows for the current year?
How can you explain the diverse opinions? What policies or procedures, if any, should CBU develop to avoid such problems in the future? Your response should also include a Biblical perspective.
The typical skier makes two ski runs per day (uses the lift twice). Ski resorts operate their lifts 8 hours per day, 120 days per year. Gold Mountain plans to sell one-day lift tickets for $60 per skier per day; no season passes will be offered.
Based on your research, determine the types and methods of transfers that will most likely trigger a taxable event for your client. Indicate how you are likely to present this information to your client.
Compute the unit cost for each department. Compute the total unit cost for the Milo Company order. The selling price for this order was $14 per unit. Was the selling price adequate? Compute the prime costs and conversion costs per unit for each depa..
Prepare a journal entry to record the estimated liability. Assume that during 2010, products under warranty must be repaired using repair parts from inventory costing $4,950. Prepare the journal entry to record the repairs of products.
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