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Calculation of goodwill value.
a. On June 30, 2007 Hi-tech Inc purchased for cash at $50 per share all 150,000 shares of outstanding common stock of Ski Craft Company. Ski craft balance sheet at June 30, 2007 showed net assets with a book value of $6,000,000. The fair value of ski craft property, plant and equipment on June 30, 2007 was $800.000 in excess of its book value. What amount if any will Hi-Tech record as goodwill on the date of purchase?
b. A company using the group method for its delivery trucks retired one of its delivery truck after the average service life of the group was reached. Cash proceeds were received from a salvage company. The net carrying amount of these group assets accounts would be decreased by the
the risk premium for exposure to aluminum commodity prices is 4 and the firm has a beta relative to aluminum commodity
Purpoes the company budgeted income statement. Use the absorption costing income statement format shown in schedule?
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It is estimated that the company will earn $800,000 before interest and taxes as a result of this purchase. The company has an estimated tax rate of 30% and has 90,000 shares of common stock outstanding prior to the new financing. Determine the ..
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Essay Petra industries have a fiscal year of May 31. Prepare the adjusting entries for the 2008 (FYE) based on the following data.
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