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Question - Magadha Corporation owns a 75 percent interest in Shiva Corporation and a 90 percent interest in Bhima Corporation.
Bhima, in turn, owns a 25 percent interest in Shiva. Separate income and loss data for the three affiliates for 2016 are as follows:
Magadha $1,200,000 separate income (not including investment income)
Shiva ($500,000) separate loss (not including investment income)
Bhima $800,000 separate income (not including investment income)
There is no other information given for income consideration.
Required - Prepare the income allocation schedule to show controlling and non-controlling shares for 2016?
The Walker company has a 7-year project with cash flows of -$1,000 in year 0, $100 in year 1, $100 in year 2, $200 in years 3, 4, and 5, $0 in year 6, and $900 in year 7. All cash flows are year-end. Assume a cost of capital of 10%. Find the NPV ..
Determine the amount of cash Buffalo received from the loan on December 31, 2017 - Prepare a note amortization schedule for Carla Bank up to December 31, 2019.
Frank did not receive his check until January 1, 2009. What income will Frank report from the partnership on his 2008 personal return
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Norma Smith is the controller of Bramble Corporation and is responsible for the preparation of the year-end financial statements.
Miyamoto jewelers is considering a special order for 20 handcrafted gold bracelets to be given as gifts to members of a wedding party. The normal selling price of a gold bracelet is $390 and its unit product cost is $264.00 as shown below:
Both iGAAP and U.S. GAAP require footnote disclosure of operating lease payments.
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during the current year patton consulting group aquired long-term available-for-sale securities at a 35000 cost. at
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schneider company uses installment sales method. below is a summary of its sales cost of goods sold and gross profit
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