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Parrett Corp. acquired one hundred percent of Jones Inc. on January 1, 2009, at a price in excess of the subsidiary's fair value. On that date, Parrett's equipment (ten-year life) had a book value of $360,000 but a fair value of $480,000. Jones had equipment (ten-year life) with a book value of $240,000 and a fair value of $350,000. Parrett used the partial equity method to record its investment in Jones. On December 31, 2011, Parrett had equipment with a book value of $250,000 and a fair value of $400,000. Jones had equipment with a book value of $170,000 and a fair value of $320,000. What is the consolidated balance for the Equipment account as of December 31, 2011?
On February 1, 2011, Albert sold $40,000 of the bonds at 103 plus accrued interest. The journal entry Albert will record on April 1, 2011 for the purchase of the bonds will include:
the loan of 15 000 is being repaid by 10 monthly installments with the first 5 payments of x and the last 5 payments of
profitability ratios neon light company has 1000000 in assets and 600000 of debt. it reports net income of 100000. a.
In 2011, Hoffmann Company had a break-even point of $332,000 based on a selling price of $8.00 per unit and fixed costs of $112,880. In 2012, the selling price and the variable cost per unit did not change, but the break-even point increased to $4..
It is used to evaluate the potential impact on portfolio values of unlikely, although plausible, events or movements in a set of financial variables.
Indicate how each item should be classified in the statement of cash flows using these four major classifications: operating activity (indirect method), investing activity,
the st. vincent manufacturing company produces a single product in a single processing department. the material is
A company requires $1,020,000 in sales to meet its net income target. Its contribution margin is 30%, and fixed costs are $180,000. What is the target net income.
Prepare the necessary correcting entries, assuming that Longfellow uses a calendar-year basis.
You just received notice that you have won the $2 million Indiana Lottery. You will receive $100,000 per year for 20 years with your first payment received today.
When a multi product factory operates at full capacity, decisions must be made about what products to emphasize. In making such decisions, products should be ranked based on multi choice:
At the end of the sixth year, the account balance was transferred to a bank paying 10%, and annual deposits of $6,000 were made at the end of each year from the seventh through the tenth years. What was the account balance at the end of the tenth ..
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