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Question - The accountant for BDB Ltd, Ms. , has sought your advice on an accountancy issue that has been mystifying her. When preparing the acquisition analysis relating to Ltd.'s acquirement of Tash Ltd, she calculated that there was a gain on bargain purchase of $10,000. Being unsure of how to account for this, she was informed by accounting colleagues that this should be treated as income. However, she figured that this would influence the consolidated profit in the first year after acquisition date. For example, if Tash Ltd reported a profit of $50,000, then consolidated profit would be $60,000. She is unsure of whether this profit is all post- acquisition profit or a mixture of pre-acquisition profit and post-acquisition profit.
Compile a detailed report on the nature of an excess, how it should be accounted for and the effects of its recognition on subsequent consolidated financial statements.
Wireless Wireless needed additional capital to expand, Prepare the stockholders' equity section of B - Wireless's balance sheet at October 31, 2018.
robert hitchcock is 40 years old today and he wishes to accumulate 500000 by his sixty-fifth birthday so he can retire
There were no other transactions which affected the companies' land accounts during 2010. What is the consolidated balance for land on the 2011 balance sheet
Calculate cost of debt, cost of new common stock, cost of preferred stock and cost of retained earnings.
The balance sheet data of Wyeth Company at the end of 2010 and 2009 follow. Land was acquired for $30,000 in exchange for common stock, par $30,000, during the year; all equipment purchased was for cash.
how many total dollars of sales must bac company sell to break even if the selling price per unit is 8.50 variable
Calculate (round to one decimal place) the average length of stay (ALOS) for adults and children for the month of October
Lane returns defective goods with a selling price of $860 and a scrap value of $320. Record the transactions on the books of O'Brien Company
during april the production department of a process manufacturing system completed a number of units of a product and
Automated tattoo machinery was acquired on January 1, 2019, for $200,000. Prepare the journal entries to record income taxes for 2020
If sales and income were overstated by recording a false credit sale at the end of the year, in which account could you find the false "dangling debit"?
the following financial data were adapted from the annual report of best buy inc. for the period ending february 28
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