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Many companies choose to combine or consolidate their companies when they see an opportunity for economic growth. This arrangement could be a joint venture, merger, combination, or a consolidation. While these terms seem similar, they have very different meanings when it comes to financial reporting. Companies will often choose a business combination or consolidation based on the impact it will have on the balance sheets. Since accounting standards and reporting rules vary for combinations and consolidations, choosing one over the other may have a more positive impact on a company's financial reports.
Analyze how consolidations and business combination promulgations affect off-balance sheet manipulations. Include research on the development of consolidations and business combination promulgations.
Lab Kennels, Inc. and Wolman Developers have agreed to exchange two parcels of land and each will assume the other's mortgage on the parcel acquired. Lab owns 500 acres within city limits that has a value of $750,000 and a basis of $300,000.
Greetings Online disposed of a van that cost $22000 with accumulated depreciation of $15000. The journal entry would be to:
Prepare the journal entries that should be made to record the expenditure of $100,000 on activities related to the legal assistance program. Prepare the journal entries that should be made upon receipt of the $100,000 check, assuming that it was r..
In generating theories of accounting based upon what accountants actually do, it is assumed (often implicitly) that what is done by the majority of accountants is the most appropriate practice.
A preliminary analytical review of the company's most recent balance sheet and income statement
Crown Industries has the following information about its standards and production activity for December-Assume the allocation base for fixed overhead costs is the number of units to be produced.
In year 1 Laylor Company has revenues of $100,000, advertising expense of $22,000, depreciation of $15,000-what is expected for last four years. The cost of capital is 10%.
Compute a common-size analysis in Excel and discuss the differences between the two corporations.
Discuss contingencies and how they're reported on financial statements. What conditions should be met before a contingency can be charged against income?
Oates Company's payroll for the week ending January 15 amounted to $50,000 for Office Salaries and $100,000 for Store Wages. None of the employees has reached the earnings limits specified for federal or state employer payroll taxes. The following..
Bubble Corporation manufactures two products, I and II, from a joint process. A single production costs $4,000 and results in 100 units of I and 400 units of II. To be ready for sale, both products must be processed further, incurring separable co..
Examine the effect of both full-cost and variable-cost transfer pricing methods on Phipps' cash flows by using a spreadsheet program such as Excel.
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