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Question - Company A paid cash and purchased the assets of Company B at an auction for $4,900,000 on October 1, 2020. The information on the book values of the assets on Company B's balance sheet is listed below:
Land $820,000
Building 1,118,000
Inventory 530,000
Machine 780,000
Based on an independent appraisal, the fair value of inventory is determined to be equal to its book value, and the fair values of land, building and machine are determined to be $1,850,000, $3,400,000 and $220,000, respectively. In the entry made by Company A on October 1, 2020 to record the purchase, determine the cost of the inventory?
During the year, products costing $300,000 were completed, Prepare journal entries to record the preceding transactions and events
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Loaned $50,000 to Lee Supply. The note had an 9 percent interest rate and a one year term to maturity.
Prepare the journal entry to record a $ 15,000 bonus owed to its workers (to be shared equally) at calendar year end.
Question - ETHICS CASE - Who are the stakeholders (affected parties) in this situation? What are the ethical issues in this case
Compute the Income Tax Expense Due - Revenues=$150,000, Total Assets=$60,000, Total Liabilities=$40,000
Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What amount should Vaughn report as its December 31 inventory?
Big Bear plans on carrying forward the net operating loss? (NOL). Assuming a 42% tax? rate, what is necessary journal entry in 2018 to record NOL? carryforward
gravois inc. incurred the following costs during june selling expenses . . . . . . . . . . . . . . . . . . . . . . . .
a corporate charter specifies that the company may sell up to 25 million shares of stock. the company sells 17 million
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