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A Manufacturing Company decided to purchase Subco. The balance sheet of Subco as of October 31, 2011 was:Subco CompanyBalance SheetOctober 31, 2011Assets EquitiesCash $ 200,000 Accounts payable $ 445,000Receivables 470,000 Common shares 700,000Inventory 280,000 Retained earnings 810,000Plant assets-net 1,005,000Total assets $1,955,000 Total equities $1,955,000An appraisal showed that the fair market value of inventory was $300,000 and that the fair market value of the plant assets was $1,250,000. The fair market value of the receivables is equal to book value. The agreed purchase price was $2,200,000 million paid in cash.Instructions1) Determine the amount of goodwill (if any) for the purchase. Show calculations.2) Prepare the journal entry to record the acquisition.
The Tiernan Gallery and Art Museum distributes to its visitors a printed guide to its collections. There are about 18000 visitors per year. Holding costs for the brochures are 20% and it costs $30 to place an order with the printer.
If the beginning balance in OAA is $3,900, and the following transactions occur, what is the ending OAA balance?
Using the activity base info in (a), determine the annual amount of payroll and purchasing costs charged back to the Residential, COmmercial, and Government contract divisions from payroll and purchasing services.
Define the management's discussion and analysis. Describe in a memo, the major items disclosed in this section of the financial report.
If standard deviation is 10 units per week, lead time is 2 weeks, demand is 50 per week, lot size is lot - for - lot, and desired service level is 97.72%, what is the statistical reorder point?
Indicating the outcome of such a change on current taxes, and Outlining the requirements for making this change.
There was a favorable materials price variance of $380 and an unfavorable materials quantity variance of $120. Based on these variances, one could conclude that:
The securities sold on December 9 had cost the company $7,000, whereas the securities sold on December 18 had cost the company $6,000. (a) Record the purchase of marketable securities on December 4.
The accounting principles and procedures that underlie an entity's external reports sometimes are modified for interim reporting purposes. Differences between the annual and interim reporting procedures are most likely to arise in the:
Euker's legal counsel has determined that under Euker's property and casualty insurance policy, Euker is entitled to insurance recovery for the fair value of the manufacturing plant in excess of the deductible, and that such recovery is probable.
Advanced Management Accounting Questions, How can activity-based costing help Heather Gerald assess the attractiveness of the proposed policy?
Carson Inc., a retail establishment, expects sales of $500,000 of a particular item in March. Its gross profit percentage is 60 percent.
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