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Packo Company acquired all the voting stock of Sennett Corporation on January 1, 2010 for $90,000 when Sennett had Capital Stock of $50,000 and Retained Earnings of $8,000. The excess of fair value over book value was allocated as follows:(1) $5,000 to inventories(sold in 2010), (2) $16,000 to equipment with a 4-year remaining useful life and (3) the remainder to goodwill.
Financial statements for Packo and Sennett at the end of the fiscal year ended December 31, 2011 , appear in the first two columns of the partially completed consolidation working papers. Packo has accounted for its investment in Sennett using the equity method of accounting.
dubuque company has prepared the following sales budget month cash sales credit sales february 14000 28000 march 12800
the 2012 annual report of american express services reported revenue of 21000000000. total expenses for the year were
Provide the necessary journal entries to record the transactions for Wilcox for the period January 2, 2011 through December 31, 2012.
Which audit procedure is most effective in testing credit sales for overstatement?
aaa lock manufacturing co. makes and sells several models of locks. the cost records for the zforce lock show that
What is the amount of Heidi's interest deduction for the year?
The dash club of tampa, florida,collected receipes from memebers and published a cookbook entitled life of the party.the book will sell for $25 per copy.the chairwoman of the cookbook development committee estimated that the club needed to sell 10..
the information below is taken from the december 31 2014 adjusted trial balance of rummer company all numbers are
your profit p is determined by subtracting the cost c the amount of money it costs to operate a business from the
Al and Amy file a joint return for the 2007 tax year. Their adjusted gross income is $80,000. They had net investment income of $9,000. In 2007, they had the following interest expenses:
pepper company which has a 25 marginal tax rate must choose between two alternative transactions. transaction 1
stacy lynn inc.is a manufacturer of rice cookers. the rice cookers sell for 45 per unit the sales were 3600 units in
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