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In government wide financial statements information about fiduciary funds should be presented in a discrete column to the right of the business type activities
Assume the equity method is applied. Compute Bell's income from Demers for the year ended December 31, 2008.
Indiana Co. began a construction project in 2011 that will provide it $150 million when it is completed in 2013. During 2011, Indiana incurred $36 million of costs and estimates an additional $84 million of costs to complete the project.
Ms. Fresh bought 1,000 shares of Ibis Corporation stock for $5,000 on January 15, 2009. On December 31, 2011 she sold all 1,000 shares of her Ibis stock for $4,500.
Ludwig, Inc., which owes Giffin Co. $2,400,000 in notes payable, is in financial difficulty. To eliminate the debt, Giffin agrees to accept from Ludwig land having a fair value of $1,830,000 and a recorded cost of $1,350,000.
Stephanie Stores uses the moving average flow assumption. On July 1, there were 180 units on hand and the total inventory cost was $900. On July 10, 40 more units were purchased at a cost of $6 apiece. Twenty units were sold on July 3 and 60 units..
Compute basic and diluted EPS for the year ended December 31, 2009.
J. Larson & Company purchased the right to extract ore from a mineral deposit by paying $50,000 in cash and signing a $200,000 promissory note.
S Corp uses the following activity rates from its activity-bases costing to assign overhead costs to products.
Both figures occur evenly throughout the year. On a December 31, 2004 consolidated income statement, what should be reported as the noncontrolling interest in the subsidiary's net income and as preacquisition income?
What amount will be debited in the December 31, 2005 worksheet elimination for the machine account as a result fo this transaction?
Equipment that cost $80,000 and has accumulated depreciation of $63,000 is exchanged for similar equipment with a fair value of $35,000 and $15,000 cash is received. The exchange lacked commercial substance.
What are the combined total department costs for the producing departments after allocating the service department costs?
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