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Question - On January 2, 2019, Ulrich Co. purchased 75% of the outstanding shares of Neil Co. resulting to a goodwill of P60,000. On that date, the non-cash assets of Neil Co. whose book values did not equal their book values were accounts receivable which was overstated by P4,500 and equipment with a remaining 5 year life on the purchase date which was understated by P50,000. For the year 2020, Ulrich and Neil reported net income of P350,000 and P200,000 each respectively. Ulrich's beginning inventory included merchandise purchased from Neil Company amounting to P39,000 which was sold to them by Neil at a 30% markup, 80% of these goods were sold during the year. Neil, on the other hand, included inventory items which they purchased from Ulrich Co. amounting to 18,000. These goods were sold by Ulrich at a 25% markup. 90% of these goods were sold by Neil for the year. Determine the consolidated net income for 2020.
Falcon Attorneys reported the following information for the year ended December 31, Calculate the retained Earning balance as at December 31, Year 1
The cash outlay for the truck is $19,000, and that for the pulley system is $20,000. Calculate the IRR, the NPV, and the MIRR for each project
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Dooley, Inc., has outstanding $100 million bonds that pay an annual coupon rate of interest of 11 percent. Par value of each bond is $1,000.
John transfers land with a tax basis of $5,000 and a fair market value of $6,000 to Pine Corporation in exchange for stock with a fair market value
Problem 1: Selected transactions for the Joel Berges Company are presented in journal form below.
Find the before tax and after-tax cost of debt using the yield to maturity approach (show all workings). How do I calculate this in Excel using
What guidance does the SEC provide for public companies with respect to the reporting of the "effect of preferred stock dividends and accretion of carrying amount of preferred stock on earning per share?
The problem that you select must not be trivial. It should be a problem for which computerized support is genuinely required. Problemsdeemed to be overly simple will not receive good marks.
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