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Tree, Inc., has held a 10 percent interest in the stock of Limb Company for several years. Because of the level of ownership, this investment has been accounted for using the fair- value method. At the beginning of the current year, Tree acquires an additional 70 percent interest, which provides the company with control over Limb. In preparing consolidated financial statements for this business combination, how does Tree account for the previous 10 percent ownership interest?
On January 1, 2009, Schultz Corporation issued $100,000 of its ten-year, 6% bonds payable at $98,000. The bonds were dated January 1, 2009, and interest is paid each December 31.
on 12th july 2011 fred city ordered a new computer at an anticipated cost of 114400. the computer was received on july
calculation of payback period of the project and comment on its liquiditypaybackthree separate projects each have an
Find the unknowns in Big Chucks abbreviated cash budget and determine the outstanding loan balance as of September 30, after any repayments have been made.
part aantonuis ltd directors have decided to issue a prospectus on 25th april 2011 for 10 million shares at 8.00it
Explain why a $50,000 increase in inventory during the year must be included in developing cash flows from operating activities under both the direct and indirect methods.
On December 28, 2013, Tristar Communications sold 10 units of its new satellite uplink system to various customers for $25,000 each. The terms of each sale were 1/10, n/30. Tristar uses the net method to account for sales discounts.In what year will ..
Distinguish between extrinsic and intrinsic rewards and explain and provide examples for the four building blocks of intrinsic rewards and motivation. How does your organization motivate and reward their employees? Please provide examples to support ..
1- the write -off inventory due to obsolence.2- discovery that depreciation expenses were omitted by accident from
Coil Welding Corporation sells and services pipe welding equipment in California. The following selected accounts appear in the ledger of Coil Welding Corporation on February 1, 2010, the beginning of the current fiscal year.
During 2014, Whindy Corporation, an S corporation, reports a recognized built-in gain of $80,000 and a recognized built-in loss of $10,000. Whindy holds an $8,000 unexpired NOL carryforward from a C corporation year. Whindy's ordinary income for the ..
On February 15, 2013, Leo purchased and placed in service a new car that cost $23,750. The business use percentage for the car is always 100%. He does take the additional first-year depreciation. Is the automobile considered "listed property"?
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