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Koel corporation acquired all the voting stock of Rain company for $500,000 on January 1, 2005 when Rain had capital stock of $300,000 and retained earnings of $150,000. Rain asstes and liabilities were fairly valued expect for the plant assets. The entire cost-book differential is allocated to plant assets and is fully depreciated on a straight line basis over a 10 year period. During 2005, Koel borrowed $25,000 on a short term non-interest bearing note from Rain, and on December 31, 2005, Koel mailed a cheque to Rain to settle the note. Rain deposited the cheque on January 5, 2006 but receipt of payment of the note was not refelected in Rain's December 31, 2005 Balance Sheet. Complete the consolidation working papers.
Identify a public agency - either at the local, state, or federal levels - that has undergone significant change in the last 25 years. You may choose an agency that you have had personal experience with, or you may choose a public agency that you ..
During the year, Xero, Inc., experienced increase in net fixed assets of $300,000 and had depreciation of $200,000. If operating cash flow (OCF) for the year was $700,000, compute firm's free cash flow (FCF) for the year.
Muriel, age 70 and single, is claimed as a dependent on her daughter's tax return. During 2009, she had interest income of $2,400 and $800 of earned income from babysitting. Muriel's taxable income is what?
Assume that a bank faces a balance sheet illustrated below, and the required reserve ratio is 20 percent.
What is the Securities and Exchange Commission? How does it affect financial decision-making? What constraints might it put on the company?
The depreciation expense is related to the company's sole $60,000 asset, which is predictable to last 4 years. The cost of capital is 10%.
Please allocate the costs and advise, what is the taxable income for year 1 and 2, noting there are no other expenses outside the allocation of costs.
As a senior manager of your information technology group, discuss how you would demonstrate, by example, the importance of security and then propose a method for creating a "security aware" culture. Provide specific examples to support your respon..
With managing cash we don't want to give one person control over enough functions in the business where they have the ability to take cash and also cover up the fact that they took it.
You have been running a sole-proprietorship business dealing in cosmetic products. You have been accurately recording all your sale and purchase transactions in journals and using the journals in the general ledger accounts.
General Products Company bought Special Products Division in 2010 and appropriately recorded 500,000 of goodwill related to the purchase.
The tax law provides very favorable tax treatment for long term capital gains. First, explain what that favorable treatment is. Second, why? Why does the tax law provide favorable treatment for long term capital gains? Do you agree that they shoul..
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