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Problem 1: Madini Limited acquired 15% equity in Dhahabu Limited on 30 June 2020 for KShs 1.1 billion. Madini has the right to appoint the Managing Director and Finance Director of Dhahabu and also controls the board of directors of Dhahabu Limited. Dhahabu Limited is in the business of exploration of gold deposits in Migori District and at the acquisition date had assets with a fair value of KShs 4 billion. Madini and Dhahabu entered a joint venture agreement on 31 July 2020 to explore a new mine in Kilgoris. Madini Limited reported its financial performance in its audited financial statements on 31 December 2020. As at 31 December 2020 Dhahabu generated a net income of KShs 450 million and declared and paid a dividend of KShs 200 million. Dhahabu's historical financial year runs from 1 July to 30 June every year and its last audited financial statements are as at 30 June 2020. Calculate the goodwill
Should the firm undertake the advertising campaign? Why or why not? What is the probability level regarding the state of the market that will render the manager indifferent as to the courses of action?
Calculate the difference/Variance in FOH and analyze into Overhead Controllable Variance, Overhead Volume Variance and Total Variable Overhead Variance
Compute the depreciation expense for the years indicated using the following methods. (Round to the nearest dollar.)
The amount for the prior service cost is related to an increase in benefits. Find pension asset or liability reported on balance sheet
USAco, a domestic corporation, sells widgets in the United States. USAco has a French subsidiary, FRANco, which sell widgets only in France. FRANco is paid in euros for 90% of its sales, and is paid in British pounds for the remaining 10% of its sale..
Misc Things, Inc. is currently open from 8am to 8pm six days per week. The store is a retail merchandiser that sells cards, supplies, magazines, and a few books. As an experiment, Katie the manager kept the store open for six hours on a Sunday. Resul..
Use the following company information to prepare a schedule of significant noncash investing and financing activities:
If tickets to a movie cost$7.25 for adults and $5.50 for students. A group of friends purchased 8 tickets for $52.75. What would be an equation to represent this equation? How many adult tickets and student tickets were purchased?
Fina and Update the cash receipt and cash payments journals by adding the necessary adjustments and calculate the total cash receipts and cash payments for May.
The standard cost of Product B manufactured by Pharrell Company includes 3.5 units of direct materials at $5.1 per unit. During June, 27,300 units of direct materials are purchased at a cost of $4.90 per unit, and 27,300 units of direct materials are..
What is GGP's taxable income for 2016Show your work.Does GGP's have a capital-loss carryforward to 2017If so, how much?
The Chase Private School follows FASB standards of accounting and reporting. Record journal entries for the following transactions during the year ended June 30, 2015. Cash contributions were received as follows: (a) $1,312 for any purpose desired by..
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