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On January 1, 2015, Alamar Corporation acquired a 40 percent interest in Burks, Inc., for $210,000. On that date, Burks's balance sheet disclosed net assets with both a fair and book value of $360,000. During 2015, Burks reported net income of $80,000 and declared and paid cash dividends of $25,000. Alamar sold inventory costing $30,000 to Burks during 2015for $40,000. Burks used all of this merchandise in its operations during 2015. Prepare all of Alamar's 2015 journal entries to apply the equity method to this investment.
limbo reports in millions of dollars on its balance sheet for year-end year 5 and year 4 as followsyear 5 year 4credit
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1. section 119 excludes the value of lodging from the employees gross incomea. whenever the employer pays for the
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nbspbank reconciliation and adjusting entries cash and cash equivalents appendix 7athe bank statement for the checking
Garr Co. issued $4,220,000 of 12%, 5-year convertible bonds on December 1, 2014 for $4,237,830 plus accrued interest. The bonds were dated April 1, 2014 with interest payable April 1 and October 1. Bond premium is amortized each interest perio..
The estimate for 2011 is subject to year-end adjustment. What amount, if any, of expense should be reflected in Post's quarterly income statement for the three months ended March 31, 2011?
hooper inc. had the following production and cost information for its painting department during april materials are
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