Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Pascal Corporation purchased 90% of the stock of Salzer Company for $2,070,000 on January 1, 2012. On this date, the fair value of the assets and liabilities of Salzer Company was equal to their book value except for the inventory and equipment accounts. The inventory had a fair value of $725,000 and a book value of $600,000. The equipment had a book value of $900,000 and a fair value of $1,075,000.
The balances in Salza Company’s capital stock and retained earnings account on the date of acquisition were $1,200,000 and $600,000 respectively.
In general journal form, prepare the entries on Salza Company’s books to record the effect of the pushed down values implied by the purchase of its stock by Pascal assuming that values are allocated on the basis of the fair value of Salzer Company as a whole imputed from the transaction.
MICHTEC's economists estimate the chances that the economy will be either expanding, normal, or in a recession next year at 0.3, 0.5, and 0.3 respectively. Compute expected annual sales. Compute standard deviation of annual sales.
Sanderson acquired ownership of Kline to ensure a constant supply of electronic switches, which it purchases regularly from Kline. Explain why might Sanderson not feel compelled to purchase all of Klines shares?
Using any information you can obtain about this company and industry, write a report explaining this abnormal trend between the net income and the cash flow numbers and whether this should be a red flag to investors and creditors.
Evaluate the amount of accrued interest that was included in the proceeds received from the bond sale. Show calculation and prepare journal entry for issuance of the bonds.
Desribe the key factors that should be considered when determining dependency exemption eligibility. Evaluate who should take the dependency exemption for Jesse and state how you know for certain.
Carson uses the sum-of-the-years-digits method of depreciation. What should the accumulated depreciation be at December 31, 2008?
Prepare any journal entries (if necessary) that would be required related to the Note Receivable at end of 2009, 2010, 2011, and 2012. Assume that $100,000 is received from ColdPlay Co. on 12/31/2013. Prepare all necessary journal entries for 2013.
During the year he received dividends of $1.45 per share. The stock is currently selling for $60 per share. What rate of return did Mike earn over the year?
William Nowland’s filing status is qualifying surviving spouse. His taxable income for 2011 is $76,000. Included in that amount is $5,000 of qualified dividends. Explain how much federal income tax does he have to pay for the year
With permission of owner, Winn made structural modifications to the building before occupying the space at a cost of $180,000. The useful life of building and the structural modifications were predictable to be 30 years with no residual value.
Below is budgeted production and sales information for Fleming Inc. for December. Evaluate Budgeted production during the month
Neither has any dependents nor itemized deductions. Based only on tax considerations, what marriage date would you recommend for the loving couple? How much would your choice save in taxes?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd