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Waters, Inc., acquired 10 % of Denton Corporation on 1st January, 2012, for $297,400 though Denton's book value on that date was $2,380,000. Denton held land that was undervalued by $144,000 on its accounting records. In 2012, Denton earned a total income of $326,000 while paying cash dividends of $122,000. On 1st January, 2013, Waters purchased an additional 30% of Denton for $840,510. Denton's land is still undervalued on that date, but then by $172,700. Any extra excess cost was attributable to a trademark with a 10-year life for the 1st purchase and a 9-year life for the second. The initial 10% investment had been maintained at cost because fair values were not readily available. The equity process will now be applied. In 2013, Denton reported income of $407,500 and distributed dividends of $153,000.
Prepare all of the 2013 journal entries for Waters
Purpose, in good form, a Statement of Net Assets for Southern State University as of 30 th June, 2012.
Why are there differences between taxable and financial income? What are some examples of permanent and temporary differences? Why do these differences exist? How do they affect the financial statements?
Journal entries for issuance and the first 2 interest periods. Golf Company bought back the bonds and retired them after the second interest period when the market annual interest rate
Log transformation when points do not seem to follow a straight line.
questionfred oatly is the loan officer of the national bank of dallas. national has a loan of 260000 unpaid to regional
Ohio Corp. reported a deferred tax liability of $6,000,000 for year ended 31st December, 2012, when the tax rate was 40%. The deferred tax liability was related to a brief difference of $15,000,000 caused by an installment sale in 2012.
The stated interest rate on the borrowed funds is 10%. What is effective annual rate of interest on the line of credit?
Beginning inventory was 20% complete for conversion cost. Ending inventory was 70% complete for concersion costs. Compute the cost of the units transferred out during July and the ending inventory July 31 using the weighted-average method.
Perform horizontal and vertical analysis on Westward s financial statements, show your results amd the financial performance of Westward, given the analysis tools
Given the discussion of the movements of the U.S. dollar, Japanese yen, and British pound against the euro in 2002-2004, what is your guess on how exchange rates should have affected the different types of exposure
allie and monte each own 50 of raider corporation an s corporation. both individuals dynamically participate in raiders
Pargo Wholesalers is preparing its merchandise purchases budget. Budgeted sales are $400,000 for April and $475,000 for May. Cost of goods sold is expected to be 60% of sales. The company's desired ending inventory is 20% of the following month's ..
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