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Matrix, Inc acquired 25% of Neo Enterprises for $2,000,000 on January 1, 2011. The fair value and book value of 25% of Neo's identifiable net assets was $2,000,000 and $1,600,000 on that date, and the difference was attributable to assets that would be depreciated over 10 years. During 2011 Neo recognized net income of $500,000 and paid dividends of $400,000. Neo had a total fair value of $10,000,000 as of December 31, 2011.
Required: Prepare the journal entries necessary to account for the Neo investment, assuming that Fredo accounts for that investment as an equity method investment, and elects the fair-value option.
Jay transferred his farm land to an LLC in exchange for a 50% interest in the capital, profits and losses. His basis in the land was $600,000 and its fair market value was $1,000,000.
Explain the benefits of a stock dividend both to the coprporation issuing the dividend and to the shareholder receiving the dividend.
Accounting Capstone Research Project
Difference between accounts payable and accruals (liabilities)
the total of the individual customer account balances should equal the balance in accounts receivable which is
question 1 buttercup corporation issued 250 shares of 11 par value common stock for 4125. prepare buttercup journal
in deciding whether to establish a foreign operation which factors might a multinational corporation mnc consider?a.
Find his income or loss for the year or operation.
Cara has received a special order from a foreign company for 5,000 units. There is sufficient capacity to fill the order without jeopardizing regular sales. Filling the order will require spending an additional $4,250 for shipping.
Joey parked his car on the top of a hill when he went to watch the Superbowl games in San Diego. He did not properly set his brakes or curb the wheels when he packed the car.
What is meant by setting a preliminary judgment about materiality? What are the most important factors affecting preliminary judgment on materiality?
aaa lock manufacturing co. makes and sells several models of locks. the cost records for the zforce lock show that
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