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Question - Six years ago, Corporation CN purchased a business and capitalized $200,000 of the purchase price as goodwill. Through this year, CN has deducted $74,000 amortization with respect to this goodwill. At the end of the year, CN sold the business for $2,000,000, $250,000 of which was allocable to goodwill. Determine the amount and character of CN's gain from its sale of goodwill.
the corporation currently uses a manufacturing facility costing 500000 per year 75 of the facilitys capacity is
heston pigments manufactures artists oil paints. each 40 ml tube of paint requires 5 minutes of direct labor and the
1. the term market as use in the expression lower-of-cost-or-market means replacement cost not retail price.2.
What is the purpose of the statement of cash flows? As a flows statement, explain how it differs from the income statement.
What information should a lessee disclose about its capital leases in its financial statements and footnotes?
What is the difference between a significant deficiency and a material weakness as it relates to internal Control? How does the presence of one material deficiency affect the auditor's report on internal controls under the PCAOB standards? Likewis..
Parker's chief financial officer (CFO) wishes to determine the effect that a change in the value of the British pound would have on consolidated net income and consolidated stockholders' equity.
You have been hired as the manager of a portfolio of ten sport asssets that are held in equal dollar amount. the current beta of the portfolio is 1.9 and the beta of asset A is 2.1. if the asset A is sold and the proceeds are used to purchase a re..
Compared to other companies in the greeting cards' industry, what is Bond's mission?
Simons Company leased a machine from an established machine dealer, Machine Guarantee Limited. The dealer acquired the machine at a cost of $180,000
Assume that the company produces and sells 88,000 units during the year at the selling price of $10.03 per unit. Prepare a contribution format income statement for the year.
a company had a beginning balance in retained earnings of 65000. net income for the current year was 122000 and cash
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