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In January 2010, Wilkinson, Inc., acquired 20 percent of the outstanding common stock of Bremm, Inc., for $700,000. This investment gave Wilkinson the ability to exercise significant influence over Bremm. Bremms assets on that date were recorded at $3,900,000 with liabilities of $900,000. Any excess of cost over book value of the investment was attributed to a patent having a remaining useful life of 10 years. In 2010, Bremm reported net income of $170,000. In 2011, Bremm reported net income of $210,000. Dividends of $70,000 were paid in each of these two years. What is the equity method balance of Wilkinsons Investment in Bremm, Inc., at December 31, 2011?
Based on a recommendation of its Board of Directors, Goochland decides to appropriate (restrict) $200,000 of its inappropriated retained earnings for plant expansion at some time in the future
Effect of different type of lease transaction in balance sheet and Make any necessary simplifying assumptions as we did in class.
Show that any rational number a/b , between 0 and 1, can be written as an Egyptian fraction. Can an irrational number between 0 and 1 ever be expressed as an Egyptian fraction? Why?
Record each of the transactions for Bennett Corporation in a journal.
Explain how does the answer to requirement change if the government decides to depreciate this asset over a 10-year period using straight-line depreciation?
Selling and administrative expenses budget
A friend recommends that Matt buy a beach house in order to increase his itemized deductions with the mortgage interest deduction. What are the relevant tax issues for Matt?
The contract required 5 equal annual payments with the first payment due on 1 st December, 2012, the date of the sale. Find what present value concept is appropriate for this situation?
Reporting and Computing the Acquisition and Amortization of three Different Intangible Assets - Evaluate the acquisition cost of each intangible asset
Purpose a monthly cash budget and supporting schedules for March, April, and May.
Calculation of cash break-even quantity and financial break-even quantity and find the financial break-even quanity
Determine the current yield curve based on the information
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