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Point 1: Milani, Inc., acquired 10 percent of Seida Corporation on January 1, 2017, for $197,000 and appropriately accounted for the investment using the fair-value method. On January 1, 2018, Milani purchased an additional 30 percent of Seida for $688,000 which resulted in significant influence over Seida. On that date, the fair value of Seida's common stock was $2,090,000 in total. Seida's January 1, 2018 book value equaled $1,940,000, although land was undervalued by $130,000. Any additional excess fair value over Seida's book value was attributable to a trademark with an 8-year remaining life. During 2018, Seida reported income of $288,000 and declared and paid dividends of $116,000. Prepare the 2018 journal entries for Milani related to its investment in Seida.
Question 1: How do you calculate annual amortization of Trademark?
Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and payment on August 15, 2011.
Prepare the journal entry to record the issue of the bond on November 1, 2017. Prepare the journal entry required to record the interest expense on April 30.
Foster care versus orphanages Do abandoned children placed in foster homes do better than similar children placed in an institution?
on november 14th the milling department hasaccepted job 111407a for 1000 pounds of cereal mix. the bill ofmaterials bom
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Determine if Clyde's move qualifies for a moving expense deduction and calculate the amount of deductible moving expenses.
ACC30008: Accounting Theory Assignment. What is integrated reporting and how integrated reporting can address limitations of traditional corporate reporting
Determine the standard unit materials cost per pound for a standard batch. Round all per unit answers to nearest whole cent
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