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Control Alt Design acquired 30% of the outstanding common stock of Walter Company on January 1, 2012, by paying $800,000 for the 45,000 shares. Walter declared and paid $0.30 per share cash dividends on March 15, June 15, September 15, and December 15, 2012. Walter reported net income of $320,000 for the year. At December 31, 2012, the market price of Walter common stock was $24 per share.
(a) Prepare the journal entries for Control Alt Design for 2012 assuming Control Alt Design cannot exercise significant influence over Walter.(b) Prepare the journal entries for Control Alt Design for 2012, assuming Control Alt Design can exercise significant influence over Walter. Use the equity method. (c) Indicate the balance sheet and income statement account balances at December 31, 2012, under each method of accounting.
Actual overhead costs for the year were $240,000. Lasso's plant-wide allocation base, machine hours, was budgeted at 50,000 hours. Actual machine hours were 40,000. Budgeted units to be produced are 100,000 units. Lasso's plant-wide factory overhe..
which is the rate users pay to providers. For debt, we call this price the interest rate. For equity, we call this price the cost of equity. Discuss the four most fundamental factors affecting the cost of money.
Kolb Company prepared its income statements for the current year using three alternative cost accounting systems
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If Blake uses a money market hedge to hedge the payable, what is the cost of implementing the hedge?
Rob, Bill, and Steve form Big Company. Rob performs $45,000 of services for his shares of the company. Bill transferred property with a basis of $5,000 for $75,000 of stock. Steve contributes cash of $100,000 for his shares. Which of the three must r..
company is considering the replacement of equipment used in operations. the following data are availableold equipment
Explain the similarities and differences between job order costing and process costing. In your explanation, provide examples of when job order costing and process costing would be most appropriate. Your initial post should be 200 to 250 words.
Prepare and unclassified balance sheet as it would appearat Dec 31,2007 c) how might the statement of cash flows help the user of thefinancial statements? Compute tow cash flow ratios.
write a 300-word summary that addresses the following criteriadefine statistics.identify different types and levels of
Khalid Company began business on January 1, 20X1, with assets of $150,000 cash and equities of $150,000 capital stock. In 20X1, it manufactured some inventory at a cost of $60,000 cash.
Write a memo to George briefly describing how a budgetary control system would be useful for demonstrating accountability to Reviva's funding agencies and private donors.
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