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The core values for this course are integrity and excellence. Applying the values of integrity and excellence, discuss ethical considerations of accounting for business combinations in a manner that prevents misunderstanding in the questions below.
Business combinations have become an important strategic move by corporations for various reasons.
a.Discuss the various types of business combinations.
b.Why may companies seek to engage in business combinations?
Discuss the importance of understanding the GAAP behind business combinations before performing the accounting. Additionally, why is it important that accountants report the numbers as dictated by GAAP regardless of what they may be?
The company sold 153 units at $63 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, what is the company's gross profit using FIFO? (rounded to whole dollars)
For the last 1,000 bag batch determine the standard cost variances for the direct materials, direct labor, and variable overhead.
Courgar Inc. issued 3,000 shares of 4% cumulative $120 par value preferred stock at par. What is the journal entry to record this transaction?
The company expects to sell 20% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month of the sale, 25% in the month following the sale, and the remainder in the following month. The cash collections in Sep..
Morales Company issued $800,000 of 8%, 5-year bonds at 106, which pays interest annually. Assuming straight-line amortization, what is the carrying value of the bonds after one year?
Providing language and cultural training for employees is big business. If you were going to write a class on how language affects intercultural business communications, what would your lesson plan look like?
Haan Inc. is a merchandising company. Last month the company's cost of goods sold was $66,500. The company's beginning merchandise inventory was $12,900 and its ending merchandise inventory was $17,200. What was the total amount of the company's m..
Any plans to depreciate the operating assets on a straight-line basis for 20 years. Determine the amount of depreciation expense for 2010 on these newly acquired assets.
Use the elements of the fraud triangle discussed in the chapter to identify internal control risks that should have influenced KPMG's position.
What are the steps in completing the accounting cycle? How do the different steps affect the financial statements? What is the effect on the financial statements of missing a step when completing the accounting cycle?
A machine that originally cost $25,000 and was depreciated on a straight line basis has one year of its expected 5-year life remaining. Its current value is $12,000. The corporate tax rate is 34%.
The Tiernan Gallery and Art Museum distributes to its visitors a printed guide to its collections. There are about 18000 visitors per year. Holding costs for the brochures are 20% and it costs $30 to place an order with the printer.
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