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On Jan1, 2009, Nana Co. paid $100,000 for 8000 shares of Papa Co. common stock. These securities were classified as trading securities. The ownership in Papa Co. is 10%. Papa reported net income of $52,000 for the year ended Dec 31, 2009. The fair value of the Papa stock on that date was $45 per share. What amount will be reported in the balance sheet of Nana Co. for the investment in Papa at Dec 31, 2009?
Explain in detail a post-closing trial balance, how it relates to the practice of accounting and its uses in business?
On January 1, 2011, Franklin Industries leased equipment on an eight-year term at $15,000 annual rental payments, paid in advance. There is a bargain purchase option on December 31, 2018 (end of lease), of $24,000. The economic life of the equipme..
O'Bria Service Company purchased a copier on January 1, 2012, for $17,000 and paid an additional $200 for delivery charges. The copier was estimated to have a life of four years or 800,000 copies.
On July 1, 2011, Patton Company should increase its Held-to-Maturity Debt Securities account for the Scott Co. bonds by
The beginning inventory (Jan. 1, 2010) was $170,000; in the past Felt's gross profit has averaged 40% of selling price.
Comparison of projects, no income taxes. (CMA, adapted) New Bio Corporation is a rapidly growing biotech company that has a required rate of return of 10%. It plans to build a new facility in Santa Clara County.
Percy Motors has a target capital structure of 40 percent debt and 60 percent common equity, with no preferred stock. The yield to maturity on the company's outstanding bonds is 9 percent, and its tax rate is 40 percent.
Provide examples of resources that are temporarily restricted as to: (a) purpose; (b) time; and (c) the occurrence of a specific event. Provide an example of permanently restricted resources.
At November 1, 2010, Myers Enterprises reported a cash balance of $60,000. During the month, Kern collected cash of $20,000 and made disbursements of $35,000. At September 31, 2010, what is the cash balance?
Describe the discrepancy between Diamond Foods, Inc.'s description of payments to walnut growers and what the farmers themselves say the payments are for
Identify a real-life outsourcing decision that has been made and the specific reasons for the outsourcing. If information is available, discuss the results of the outsourcing decision (jobs lost, cost savings, etc.). Cite sources as deemed necessa..
What are some methods that aid management in analyzing the expected results of capital budgeting decisions?
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