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Grant Company acquired all of Bedford Corporation's assets and liabilities on January 1, 20X2, in a business combination. At that date, Bedford reported assets with a book value of $626,000 and liabilities of $361,000. Grant noted that Bedford had $46,000 of capitalized research and development costs on its books at the acquisition date that did not appear to be of value. Grant also determined that patents developed by Bedford had a fair value of $128,000 but had not been recorded by Bedford. Except for buildings and equipment, Grant determined the fair value of all other assets and liabilities reported by Bedford approximated the recorded amounts. In recording the transfer of assets and liabilities to its books, Grant recorded goodwill of $95,000. Grant paid $531,000 to acquire Bedford's assets and liabilities. If the book value of Bedford's buildings and equipment was $354,000 at the date of acquisition, what was their fair value?
Discuss the pros and cons of financing in unhedged Eurodollars instead of via Euro euros. As you do this you must give consideration to the foreign exchange risks associated with financing in Eurodollars.
Identify whether it represents an accounting change or an error. If an accounting change, identify the type of change.
On the basis of the details of the following bonds payable and related discount accounts, indicate the items to be reported in the Financing Activities section of the statement of cash flows, assuming no gain or loss on retiring the bonds:
Furson Corporation makes a single product. In a recent period 6,540 units were made and there was an unfavorable labor efficiency variance of $26,500. Direct labor workers were paid $5 per hour and total wages were $190,000. The labor rate variance w..
Describe the extent to which the market is efficient with respect to quarterly earnings surprises during the 60 trading days following quarterly earnings announcements.
What is the December 31, 2009, balance in the estimated warranty liability account? Compute the warranty expense for 2009. Prepare the entry to record the payment of the 2009 warranty claims.
Kim transfers property with a tax basis of $1,120 and a fair market value of $810 to a corporation in exchange for stock with a fair market value of $620 in a transaction that qualifies for deferral under section 351. The corporation assumed a liabil..
Completed bookkeeping services for Elliott Electric Company that began on May 30 and billed Elliott for the total services performed, including the accrued revenues that had been recognized in an adjusting entry in May, $1,400
Using the activity-based costing approach, determine the overhead cost per unit for each product.
questiondement publishing divisionthe dement publishing division sells large volumes of novels to a few book
What contribution margin per unit will be needed on the remaining 130,000 units to cover the remaining fixed costs and to earn a profit of $210,000 this year?
Crabtree Inc had additions to retained earnings for the year just ended of $625,000. The firm paid out $130,000 in cash dividends, and it has ending total equity of $7.2 million.
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