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General Products Company bought Special Products Division in 2010 and appropriately recorded 500,000 of goodwill related to the purchase. On December 31,2011, the fair value of Special Products Division is 4,000,000 and it is carried on General Products' books for a total of 3,400,000, including the goodwill. An analysis of special products division's assets indicates that goodwill of 400,000 exists on December 31, 2011. What goodwill impairment should be recognized by General Products?
a) 0b) 200,000c) 50,000d) 300,000
Do an Internet search to identify the types of games and business simulations that are available. Select one and provide a description and an analysis of it. Discuss the learning content objectives.
Wood Incorporated factored $150,000 of accounts receivable with Engram Factors Inc. on a wotkout-recourse basis. Engram assesses a 2% finance charge of the amount of accounts receivable and retains an amount equal to 6% of accounts receivable for ..
Earnings announcements by companies are closely followed by, and frequently result in, share price revisions. Two issues should come to mind. First, earnings announcements concern past periods, If the market values stocks based on expectations of ..
What are some examples of long formal reports? When might an accounting department or accounting firm use these reports?
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Prepare all journal entries to record the preceding information. How the accounts related to BBB's factoring and assignment agreements be reported on BBB's year end financial statements
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On January 1, 2010, Kentwood Company issued bonds with a face value of $800,000. The bonds carry a stated interest of 7% payable each January 1 and July 1. Prepare the journal entry for the issuance assuming the bonds are issued at 97.
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