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Cafe Ole' Company acquired a fast-food restaurant for $1,500,00. The fair market values of the assets acquired were as follows. No liabilities were assumeb.
Equipment $380,000
Land 200,00
Building 680,000
Franchise (5-year life) 120,000
a. Calculate the amount of goodwill acquired.
b. Prepared the journal entry to record the amortization of the franchise fee at the end of year 1.
Change of mind gives gallery a $1m surprise' and determine whether the gallery should treat the donation as revenue. Further, if the donation is treated as revenue, how would that revenue be measured?
Prepaid rent at 1/1/10 was $20,000. During 2010 rent payments of $123,000 were made and charged to "rent expense." The 2010 income statement shows as a general expense the item "rent expense" in the amount of $122,000.
dsl company has two manufacturing departments - the machining department and the assembly department. each department
Determine the weighted average number of shares outstanding - Corporation Q engaged in the following stock transaction during 19A:
Flyaway Travel Company reported net income for 2009 in the amount of $90,000. During 2009, Flyaway declared and paid $2,125 in cash dividends on its nonconvertible preferred stock.
What role does a trade-in allowance on old equipment play in a decision to retain or replace
Under the indirect method on preparing the statement of cashflows, increases in current assets are __________ net income in thecash flows from operating activities section.
on january 1 2014 harter company had accounts receivable 127600 notes receivable 25200 and allowance for doubtful
sophisticates inc. a distributor of jewelry throughout california is in the process of assembling a cash budget for the
the litton company has established standards as follows direct material3 pounds per unit 4 per pound 12 per unit
torrid romance publishers has total receivables of 2820 which represents 20 days sales. total assets are 70500. the
Your contracting activity negotiated a $7,500,000 sole-source contract with the Williams Corporation about eight months ago. After the close of negotiations, Williams signed a Certificate of Current Cost or Pricing Data. During an audit for a follow-..
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