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Control Alt Design acquired 30 % of the outstanding common stock of Walter Company on January 1, 2012, by paying $800,000 for the 45,000 shares. Walter declared and paid $.30 per share cash dividends on March 15, June 15, September 15, and December 15, 2012. Walter reported net income of $320,000 for the year. At December 31, 2012, the market price of Walter common stock was $24 per share. 1. Prepare the journal entries for Control Alt Design for 2012 assuming Control Alt Design cannot excercise significant influence over Walter. (Use the cost method and assume that Walter common stock should be classified as a trading security.)
a company had a highly labor-intensive manufacturing process. recently it implemented robotics and a number of other
In each case, compute the amount that should be reported in the operating activities section of the statement of cash flows under the direct and indirect method.
Arrow manufactured 19,000 units of product during May using 142,500 pounds of direct material and 5,000 direct labor hours. a. Calculate the direct materials price variance for May.
a company estimates that overhead costs for the next year will be 9234000 for indirect labor and 156800 for factory
However, the coststructure has reversed and now fixed costs make up the majority of total manufacturing costs. What caused this to happen? What would explain the drastic change in cost structure?
Which of the following statements is true regarding the different types of general ledger accounts?
What is the predetermined overhead rate?
in large companies treasury will play a critical role in cash management as they are often the primary group that will
In late June, the Everest Construction Co. submitted a progress billing on a construction contract for $500,000. On July 2, the bill was approved for payment, subject to a five percent retention, as provided by the contract. The amount that should..
seard clinic uses patient-visits as its measure of activity. the clinic has provided the following reportrequirements
Assume none of the fixed expenses for the Basic line are avoidable. What will be total net income if the line is dropped?
on july 1 2010 ellison company granted sam wine an employee an option to buy 400 shares of ellison co. stock for 30 per
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