User Account

All Pages

Include broadcast studio equipment and satellite telemetry

Assignment Help Accounting Basics
Reference no: EM131329090

Assignment

The company that I chose to research came to me on the way home from work this week while sitting in traffic. A string of several ads came on the radio and got a little frustrated that my Christmas tunes were so rudely interrupted. I switched over to Sirius radio to see if I could find their Holiday station quickly. Sirius XM Radio starts with ‘S'... I wonder if they have any subsidiaries...turns out they do and quite a few assets that surprised me.

Sirius XM Holdings Inc is a "controlled company" meaning that Liberty Media Corporation owns over 50% of their outstanding shares. Liberty Media owns interest in a range of media, communication and entertainment based companies. Sirius XM Radio is one of them. In 2013, however, Sirius acquired all outstanding shares in a vehicle based business called Agero, Inc. To account for this transaction, Sirius used the acquisition method of accounting. This resulted in a net decrease in the purchase price and therefore no increase to goodwill was accounted for in the transaction. This is only one of the subsidiaries for Sirius XM Holdings. The other subsidiaries include:

Satellite CD Radio LLC

Sirius XM Connected Vehicle Services Inc.

Sirius XM Connected Vehicle Services Holdings, Inc

SXM CVS Canada Inc.

XM Emall Inc.

XM 1500 Eckington LLC

XM Investment LLC

XM Radio LLC

Sirius XM also holds equity investment in a related party, Sirius XM Canada (37% equity interest). Sirius XM provides "programming and content services to Sirius XM Canada and are reimbursed rom Sirius XM Canada for certain product development cost, production of chipset radios, as well as for information technology and streaming support costs." (Sirius XM Holdings Inc., 2015 10-K)

Sirius XM Radio reported Goodwill ($2,205,107) in its 2015 balance sheet and further notess that the company is not aware of any impairment loss and therefore has not accounted for any losses in the current year. Notes to the financial statements add that the company has not recorded any impairment losses in prior years 2014 or 2013. There was a "Purchase price accounting adjustments to goodwill in 2014 totaling $1,698.

On a side note, I learned that Sirius XM Holdings, owns 8 operating satellites. A few of these are scheduled to come offline and de-orbit since their operational lives have pasted. Other assets include broadcast studio equipment and satellite telemetry, tracking and control facilities.

Sirius XM Holdings Inc. (12/31/2015) Form 10-K Annual Report (Filing Date 2/2/2016) EDGAR Database System Retrieved online from https://www.sec.gov/Archives/edgar/data/908937/000156459016012174/siri-10k_20151231.htm

Reference no: EM131329090

Questions Cloud

Discuss one of the social process theories : Discuss one of the social process theories (social learning, social control, or social reaction), and why you think it best explains why criminals commit crimes.
Three general categories of unethical and illegal behaviour : What is the best method for preventing an illegal or unethical activity?
Calculate the equity risk premium for each quarter century : Shows average return on U.S. stocks and bonds for 25-year periods ending in 1925, 1950, 1975, and 2000.- Calculate the equity risk premium for each quarter century. What lesson emerges from your calculations?
Does the writer have at least the points of comparison : Write a new memoir using the memoir you wrote at the beginning of the semester and add additional information that you have learned from the class or about yourself in terms of your culture and language
Include broadcast studio equipment and satellite telemetry : A few of these are scheduled to come offline and de-orbit since their operational lives have pasted. Other assets include broadcast studio equipment and satellite telemetry, tracking and control facilities.
How is due diligence different from due care : What is due care? Why should an organization make sure to exercise due care in its usual course of operations?
How inequality is an outcome of social institutional : Should reconstruct the above by way of honing in on specific institutional dynamics and a specific argument about why inequality is problematic and unsustainable. You will use your sources to direct these specifics (because you have to have citat..
Estimate the expected return on the stock market next year : Explain why the estimate in part (a) may be better than simply assuming that next year's stock market return will equal the long-term average return.
What is intellectual property : What is intellectual property (IP)? Is it afforded the same protection in every country of the world? What laws currently protect it in the United States and Europe?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Budgeted actual variable costs 200000 168000 fixed costs

problem v - 20 points klingon company operates a free cafeteria for the benefit of its employees. budgeted and actual

  Which of the following circumstances most likely would

which of the following circumstances most likely would cause an auditor to suspect an employee payroll fraud scheme?a

  What amount of fica taxes

What amount of FICA taxes

  Budgeted contribution margin per carabiner

What was the budgeted contribution margin per carabiner? What was the actual contribution margin per carabiner?

  Hiroyuki appliance uses a perpetual inventory system

Hiroyuki Appliance uses a perpetual inventory system. For its fl at-screen television sets, the January 1 inventory was 3 sets at $600 each. On January 10, Hiroyuki purchased 6 units at $660 each. The company sold 2 units on January 8 and 4 units ..

  Determining percentage-of-completion method

Dalton Construction Co. contracted to build a bridge for $5,000,000. Construction began in 2010 and was completed in 2011. Data relating to the construction are:

  What is the present value of this amount today

Assuming the appropriate interest rate for discounting is 12% (compounded semiannually), what is the present value of this amount today?

  On january 1 2013 johnstone leased an office building terms

1.on june 30 2013 the johnstone company purchased equipment from genovese corp. johnstone agreed to pay genovese 19000

  Hope kessler would like to buy a new house and is saving up

hope kessler would like to buy a new house and is saving up money for a down payment. her savings account earns

  Discuss the best way to address running your 36000 race

1.determine the best way to address a 280k windfall from a business trip to las vegas in which you incurred 1846 in

  Classify the fund balance as unassigned

A balance sheet, and  a budgetary comparison schedule Classify the fund balance as Unassigned

  What is the difference between external and internal pricing

What is difference between external and internal pricing? What factors must be considered when setting internal transfer pricing between divisions of a company? What are different methods of setting internal transfer pricing?

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd