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On 1 July 2020, Simpson Ltd acquired 70 per cent of the share capital of Homer Ltd for $420,000. At acquisition date, the share capital and reserves were: Share capital $350,000Retained earnings $100,000 At the date of acquisition, all identifiable net assets of Homer Ltd were recorded at fair value.
Ignore the tax implications of these transactions.
Required: Problem 1. Prepare the consolidation journal entries for the above transactions Problem 2. Calculate the non-controlling interests in profits for the year ended 30 June 2021 and prepare the elimination entry for the NCI.
The magazine sells 88000 subscriptions in January at $20 each. What entry is made in January to record the sale of the subscriptions?
Show a combined single-step income statement and retained earnings for the year ended December 31, 2007. Jackson Company had the following income statement
the partnership is a general partnership
Consideration is being given to the investment of $420,000 at time zero for machinery and equipment to be depreciated using 7 year straight line depreciation starting in year 1 with the half-year convention. Annual sales are projected to be $450,000 ..
Suppose the value of the S&P 500 Stock Index is currently $1,200. If the one-year T-bill rate is 3% and the expected dividend yield on the S&P 500 is 2%, what should the one-year maturity futures price be? What if the T-bill rate is less than the div..
Need help filling out schedule e supplemental income and loss. The Joneses own a small four-unit rental. The rental was purchased and placed in service on july 1, 2002 and was rented for the entire year
Solve basic earnings per share for Davis Designs Inc. Davis Designs, Inc. had net income for the year ended December 31, 20X4, of $360,000 and 200,000
Describe any five market ratios with their importance that Marry Kom should look into before undertaking any investment decision.
On July 1, 20Y1, Danzer Industries Inc. issued $40,000,000 of 10-year, Journalize the entry to record the amount of cash proceeds from the issuance of bonds
At year-end, employees earned wages of $3,800, which will be paid on next payroll date, Identify whether each required adjustment is a deferral or an accrual.
Find What is the number of shares that should be used in computing diluted earnings per share for the year ended December 31, 2020?
3.25%, the market return was 7% and a portfolio manager with beta of 0.5 realised a return of 8%. Evaluate the manager based on the portfolio alpha.
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