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The founders of an acquired company are granted a contingent payment for three years after the acquisition based on those years earnings:
a. the acquirer typically recognizes the payment as goodwill when the ccontingency is resolved and payment is given.
b. the acquirer typically recognizes the payment as goodwill when the contingency is resolved.
c. the acquirer typicallY includes the expected payments based on future earnings as goodwill at acquisition.
d. the acquirer typically amortizes contingencies over the applicable award period.
Rojas Co. owned 7,000 shares (70%) of the outstanding 10%, $100 par preferred stock and 60% of the outstanding common stock of Brett Co. When Brett reported net income of $780,000, what was the noncontrolling interest in the subsidiary's income?
Your company has a pension plan. At the end of the year your company reports an ABO of $250,000, PBO of $300,000 and Plan Assets of $230,000 for the year ended December 31, 2011.
Analyze statements about accounting and the recording process. Josh Cephus has prepared the following list of statements about accounts.
Expenses paid during 2008 were $80,000. Expenses paid in advance were $4,000 as at December 31, 2007, and the balance of expenses paid in advance was $8,000 as at December 31, 2008.
Prepare the journal entry to record Autumn Company's issuance of 63,000 share of no-par value common stock assuming the shares;
Which of the following is most likely to be used in determining a proper amount to be included in the allowance for doubtful accounts?
What will be the implications of the decision of the manager to lay off the 3 experienced sales executives?
Transportation costs incurred by a manufacturing company to ship its product to its customers would be classified as which of the following?
An asset purchased by A Corporation for $15,000 ON 01/01/1997 also incurred freight charges of $200 and installation cost of $1,000.The asset had a life expectancy of eight years and a salvage value of $2,800.
Explain each step of the accounting cycle. Describe at least one transaction that would occur at the company you selected in each of these steps.
On december 15, 2010 pascal declared a cash dividend of $2.00 per share to stockholders of recordon december31. The dividend is payyable on january 15 2011 pascal has issued 1,000,000 shares of common stock, of which 50,000 shares are held in trea..
The following accounts were included on Megan's Style Consultants adjusted trial balance at December 31, 2010: What are total current assets?
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