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Question - Banyan Developments Limited has a year end of 31 March 2021. Its principal activities are providing fitness and welfare services. On 31 March 2021 Banyan Developments Ltd acquired 100% of the share capital of a competitor, Portello Ltd for $4,000,000. The netassets of Portello Ltd at that date were $1,500,000. You are the Financial controller of Banyan Developments Ltd and have reported to your Chief Financial Officer, that in addition to the reported net assets of Portello Ltd you have identified two further intangible assets related to Portello Ltd, including a patent with a remaining useful life of 5 years that you have estimated to be worth $750,000 and a new piece of software about to be launched which you estimate to have a value of $500,000 and to have an estimated useful life of 4 years. The CFO has thanked you for your work, but has stated that he will record goodwill relating to the acquisition of $2.5 Million. Evaluate why the CFO may not want to record the patent and software development in the acquisition of Portello Ltd.
If there is a decline in interest rates, which would rather be holding, long-term bonds or short-term bonds? Why? Which type of bond greater interest-rate risk?
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You have just taken out a 30-year mortgage on your new home for $114,301. What is the amount of each of the monthly installments
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Explain steps that you would need to take to remedy this discrepancy identified with the trust account and then apply agency contingency procedures
The new partnership began in 2019 with total capital of P300,000. Immediately after Mae's admission, Charlie's capital should be
Construct a table that shows interest revenue reported by Company, and the carrying value of the investment, for the first 2 interest periods.
Sam was about to sell a $1 million life insurance policy to a prospective customer when he resigned from his position with Equity Life. Before resigning from the company, he had expended substantial amounts of company money and had utilized Equity’s..
What is the Weighted Average Contribution Margin? (Round to the nearest cent). What is the breakeven point in units and dollars?
The first budget needed in the budgeting process is the
At the beginning of the year, Keller Company's liabilities equal $60,000. During the year, assets increase by $80,000, and at year-end assets equal $180,000. Liabilities decrease $10,000 during the year. What are beginning and ending amounts of ..
On September 30, 2018, Dolphin Company, Create journal entries related to this foreign currency borrowing assuming the following exchange rates for 1 Euro
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