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A company (X) is considering a purchase of another company (Y) whose Assets and Liabilities (in no particular order) are as listed below (all in $ millions):
Inventory: $140; A/P: $50;
Note Payable: $20; Cash: $120;
Prepaid Expenses: $10; A/R: $30;
Long Term Debt: $100;
Unearned Revenue: $20;
Question A. By showing the actual accounting bookings for this acquisition, calculate the goodwill that would be created if Company (X) paid altogether $200 cash for Company (Y) ($100 immediately and $100 in 6 months).
Question B. While preparing next year's financial statements, it is determined that company (X) overpaid for company (Y) and that half of the Goodwill created should not be there. Show the accounting entry necessary to eliminate this portion of Goodwill from company (X)'s Balance Sheet.
Using cost-volume-pro?t analysis, determine what total number of units must be sold in order to earn a company-wide pro?t of $300,000.
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Also, if there is no change in stocks' betas, then the required rate of return on each stock as measured by the CAPM will increase by the same amount
Leland Co. paid $1,500,000 for a purchase that included land, building, and office furniture. An appraiser provided the following estimates of the market values of the assets if they had been purchased separately: Land, $336,000, Building, $832,000, ..
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HA3011: Advanced Financial Accounting-Holmes Institute Australia-As fundament qualitative characteristics state your understanding of relevance.
The standard auditors' report refers to standards of the PCAOB and GAAP in which paragraph?
Calculate the net present value ?(NPV?) for a 30?-year project with an initial investment of ?$35 ,000 and a cash inflow of $?8000 per year. Assume that the firm has an opportunity cost of 15%. Comment on the acceptability of the project.
Seville Corporation uses the weighted average method to prepare production reports. How many units did Seville complete and transfer?
What The reduction in profit contribution from a decline in sales is? A firm is contemplating shortening its credit period from 30 to 20 days
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