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Princeton company acquired 75 percent of the common stock of sheffield corporation on december 31, 2009. on the date of acquisition, princeton held land with book value 150,000 and a fair value of 300,000; sheffield held land with a book value 100,000 and fair value 500,000. using the entity theory, at what amount would land be reported in a consolidated balance sheet prepared immediately after the combination?
Variable costing fell out of favor in management circles because:
You are the vice president of operations for a small manufacturing company that uses the absorptive method of accounting for fixed manufacturing overhead, and you are approaching the end of the year.
If Charming Confections Company charges each division 12% for capital employed, compute residual income for the Peanut and Plain divisions. Compute the ROI for each division.
Generally, companies follow one of two broad strategies: offering a quality product at a low price, or offering a unique product or service priced higher than the competition. Assume you are opening a small food outlet across the street from your cam..
What are some of the advantages and the disadvantages of database forms? What is your experience in using Queries? Have you ever read the SQL commands generated by a Query in Access database?
St. Joseph hospital has overall variable costs of 30% of total revenue and fixed costs of 42 million per year. Compute the break-even point expressed in total revenue.
Part 1 On July 1, 2010, Wallace Company, a calendar-year company, sold special-order merchandise on credit and received in return an interest-bearing note receivable from the customer.
During 2007, a company began researching and developing a new product for market. By June 30, 2008, the company had determined the new product was technologically feasible and developed a business plan including identification of a ready market fo..
Write a short Memo to a nonfinancial audience explaining how increasing scrutiny and demand for accountability by the public has influenced reporting for not-for-profit and governmental entities.
How should you account for the difference between the carrying value and the purchase price in the consolidated financial statements for 2011?
Fred deals with more than one supplier and often places orders for multiple items at the same time. Fred takes inventory and places orders every Monday.
Wilson Company makes all sales all sales of industrial bearings under terms of FOB shipping point. The company usually receives orders for sales approximately one week before shipping inventory to customers.
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