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These questions are based on the following information and should be viewed as independent situations. Popper Co. acquired 80% of the common stock of Cocker Co. on January 1, 2009, when Cocker had the following stockholders' equity accounts. Common Stock- 40,000 shares outstanding= $140,000 Additional paid-in capital = $105,000 Retained earnings = $476,000 Total stockholders' equity = $721,000 To acquire this interest in Cocker, Popper paid a total of $682,000 with any excess acquisition date fair value over book value being allocated to goodwill, which has been measured for impairment annually and has not been determined to be impaired as of January 1, 2012. On January 1, 2012 Cocker reported a net book value of $1,113,000 before the following transactions were conducted. Popper uses the equity method to account for its investment in Cocker, thereby reflecting the change in book value of Cocker. On January 1, 2012, Cocker reacquired 8,000 of the outstanding shares of its own common stock for $34 per share. None of these shares belonged to Popper. How would this transaction have affected the additional paid-in capital of the parent company? A. $0 B. Decrease it by $32,900 C. Decrease it by $45,700 D. Decrease it by $49,400 E. Decrease it by $50,500
Are mailing lists are considered as prepaid or period expens?
Contain the relevant authoritative literature on accounting for investments in held-to-maturity securities using the FASB's Codification Research System. What is the specific citat
help with journalizing payroll transactions and filling on the cash payments journal, may 15, paid cash for april's payroll tax liability. withheld taxes from april payrolls; emp
Q. Illustrate accumulated depreciation account? Micro Train place depreciation expense in its income statement and it reports accumulated depreciation in the balance sheet as a
Personal accounts --> Debit the benefit receiver, credit the benefit giver Real accounts --> Debit what comes in, credit what goes out Nominal Accounts --> Debit all expenses
Generally Accepted Auditing Standards (GAAS) - Standards set by AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS (AICPA) which concern AUDITOR'S professional qualities and judgme
A user buys a new transponder for $20. What debit and credit entries would need to be made?
AL MASA a sole trader,decided to install a new machine to use
At the end of the current year, $19,900 of fees have been earned but not billed to clients. a. What is the adjustment to record the accrued fees? Indicate each account affect
what is Accounts payable process?
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