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Intercompany transactions are very important in the consolidation process. Choose an intercompany transaction. Discuss the effects of intercompany transactions when consolidating financial statements. Your discussion should include the effects on both the parent and the subsidiary.
What is the economic and tax policy rationale regarding corporate formation? When will a transfer be deemed a taxable event? How is basis determined? What if assets are contributed to a corporation by a non shareholder such as a government entity?
Determine for each plan the earnings per share of common stock, assuming that the income before bond interest and income tax is $2,600,000. Discuss the advantages and disadvantages of each plan.
Maggie Moo's Ice Cream Shop had a gross pay of $19,000 and a net pay of $13,200 for the latest payroll. The journal entry to pay the payroll would be:
FASB has special rules for reporting on private health care organizations. And of course, if the health care organization is associated with government (as an SPE), then GASB rules. What are the similarities and differences in the accounting pract..
How do you describe the continued existence of counter trade? Under what scenarios may its popularity increase still further by the year 2015?
You have been running a sole-proprietorship business dealing in cosmetic products. You have been accurately recording all your sale and purchase transactions in journals and using the journals in the general ledger accounts.
Calculate the total indirect manufacturing costs for December from the information given above.
Use T accounts to record transactions involving assets, liabilites and owners equity for the following:
The Fancy Umbrella Company makes beach umbrellas. The production process requires 3 square meters of plastic sheeting and a metal pole. The plastic sheeting costs $0.50 per square meter and each metal pole costs $1.00.
Your write-up should be concise enough to allow me to see the answer without having to search but complete enough that I know you did the steps. Step One is important; if you skip ahead to Step Three it will show in your write-up.
Is the proposed change in asset life unethical, or is it simply a good business practice by an astute president?
Prepare the journal entry to record pension expense and the employer's contribution to the pension plan in 2010.
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