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During the past several years the annual net income of Avery Company has averaged $ 540,000. At the present time the company is being offered for sale. Its accounting records show the book value of net assets ( total assets minus all liabilities) to be $ 2,800,000. The fair value of Avery’s net identifiable assets, however, is $ 3,000,000. An investor negotiating to buy the company offers to pay an amount equal to the fair value for the net identifiable assets and to assume all liabilities. In addition, the investor is willing to pay for goodwill an amount equal to the above- average earnings for five years. On the basis of this agreement, what price should the investor offer? A normal return on the fair value of net assets in this industry is 15 percent.
If a business had sales of $4,000,000, fixed costs of $1,300,000, a margin of safety of 25%, and a contribution margin ratio of 40%, what was the break-even point?
Calculation of Estimated Allowance for doubtful accounts with a change in Sales - What would you answers be for parts 1 and 2 if sales for the current period were $220,000
Prepare a segmented income statement in the contribution margin format for the company.Omit percentages; show only dollar amounts. Why should management discontinue a segment? Which one?
Reeves Company uses a predetermined overhead rate of $6.00 per machine hour. If the predetermined overhead rate was $6 per machine hour, overhead was underapplied by $40,000, and actual machine hours were 70,000; what was the actual overhead cost?
Prepare the adjusting entry needed for Business Solutions to recognize bad debts expense, which are estimated to be 1 percent of total revenues
Illustrate what problems are associated with using the average cost per unit as a performance measure? What problems are associated with using the variable cost per unit as a performance measure?
They feel confident that their interest in the berry farm is a sound investment. Recognize the tax issues facing the Waylands.
The mailing of ken ‘s checks continued for the next four weekly paydays. It wasn’t until the monthly payroll reports were sent to Ken’s supervisor that the error was detected. Ken refused to return the four extra checks. What actions should the co..
Assume that Go-med is a joint venture owned by Insure and four other venturers, that the acquisition differentials are valid, and that it has not yet adopted IFRS 11: Joint Arrangements. Prepare a 20X8 consolidated income statement for Insure using ..
the rental cost for a large bus is800 and 600 for the small bus compute how many buses of each type should be used for the trip for the least possible cost
What are the two methods that might be used to record infrastructure expense from year to year? How is the accounting different under the two methods?
Lara's employer has a 40 percent marginal tax rate. Ignoring payroll taxes, illustrate what is the maximum amount of before-tax salary Lara would give up to receive health insurance?
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