Solution-Compile a detailed report on the nature of an

Compile a detailed report on the nature of an excess

Assignment Help Accounting Basics

Reference no: EM133039893

Question - The accountant for bingo ltd, Ms Diva, has sought your advice on an accountancy issue that has been mystifying her. When preparing the acquisition analysis relating to bingo Ltd's acquirement of Tasha Ltd, she calculated that there was a gain on bargain purchase of $10000. Being unsure of how to account for this, she 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 Tasha ltd reported a profit of $50000, then consolidated 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 reconigition on subsequent consolidated financial statements.

Reference no: EM133039893

Questions Cloud

Research a domestic company performed overseas : Using Strategy Research a domestic company that has not performed well overseas (do not use Walmart or Best Buy).

Describe the current attraction strategy : As an HR consultant, you have been called into Melting Moments to help Caroline. Drawing on the information given in the above case study, you are asked to addr

Calculate net income or loss for the year : At the end of the year, stockholders' equity totaled $402,000. Assuming that is all the information that is needed, calculate net income or loss for the year

Find and form the meaning directions : Activity 1. Find and Form the Meaning Directions: Find five synonyms of "scope" and "delimitation". Then, analyze and connect the gathered words in order to for

Compile a detailed report on the nature of an excess : Compile detailed report on nature of an excess, how it should accounted for and effects of its reconigition on subsequent consolidated financial statements

Finding return on assets ratio-return on equity ratio : a) Return on Assets ratio. Analyse the results and comment. b) Return on equity ratio. Analyse the results and comment.

What is the percentage change : Sales are $2.51 million in 2020, $2.61 million in 2021, and $2.41 million in 2022. What is the percentage change from 2020 to 2021

Assignment on employment and labor markets : Summary; Why don't companies retrain and retain employees instead of having layoffs and new hires? Layoffs and buyouts can be disruptive and costly.

What are griggs responsibilities : Macfarlane is writing a movie review. What responsibilities do reviewers have to their readers? How well has Macfarlane fulfilled those responsibilities?

User Account

All Pages

Compile a detailed report on the nature of an excess

Reference no: EM133039893

Reference no: EM133039893

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT