Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
On September 17, 2013, Ziltech, Inc. entered into an agreement to sell one of its divisions that qualifies as a component of the entity according to generally accepted accounting principles. By December 31, 2013, the company’s fiscal year-end, the division had not yet been sold, but was considered held for sale. The net fair value (fair value minus costs to sell) of the division’s assets at the end of the year was $14 million. The pretax income from operations of the division during 2013 was $3 million. Pretax income from continuing operations for the year totaled $17 million. The income tax rate is 40%. Ziltech reported net income for the year of $5.7 million.
Required: Determine the book value of the division's assets on December 31, 2013.
Most decisions made by management impact the ratios analysts use to evaluate performance.
Variable and absorption costing unit product costs and income statement; Explanation of Difference in Net Operating Income
he land had a $160,000 basis to the corporation, a FMV of $320,000 and was subject to a $290,000 mortgage. Muscatine assumed the mortgage. What amount of gain, if any, is recognized by Corporation C? What is Corporation C's basis in its partnership..
Discuss, with reasons, the appropriate date of acquisition of Beta Ltd in the consolidated annual financial statements of Oxygen Ltd for the year ended 31 December 2003.
what is the mean value of market capitalization? Assume that market capitalization has a normal distribution.
Understand how fixed and variable costs behave and how to use them to predict costs, analyze a mixed cost using the high-low method and prepare an income statement using the contribution format.
Star Corporation issued both common and preferred stock during 20X6. The stockholders' equity sections of the company's balance sheets at the end of 20X6 and 20X5 follow.
During 2014, Williamson Company changed from FIFO to weighted-average inventory pricing. Pretax income in 2013 and 2012 (Williamson’s first year of operations) under FIFO was $178,800 and $195,800, respectively.
The aBC Class A share mutual fund has a NAV of 35.64 and an offer/purchase of 37.81. How many shares will you receive when you invest 10,000?
If a company does not monitor notes payable for due dates and interest payment dates in relation to financial statement dates, what misstatements can appear in the financial statements?
Audit Procedures for fraud detection in the revenue process. Assume that you have been assigned to the audit of Itakian Home Stores., which sells Italian furniture and home furnishings in two retail shops and on a website for online sales. Describe t..
Rick has a $50,000 basis in the RKS General Partnership on January 1 of the current year, and he owns no other investments. He has a 20% capital interest, a 30% profits interest, and a 40% loss interest in the partnership. Rick does not work in the p..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd