User Account

All Pages

Explain the journal entry line by line at acquisition date

Assignment Help Accounting Basics
Reference no: EM132464905

Question - When Scotch Ltd secured ownership of all of the shares of McGraw Ltd, McGraw Ltd was involved in a court case with a former employee. McGraw Ltd disclosed this information as a contingent liability, and the company's solicitor determined the fair value of the probable payout to settle the case to be $50 000. Discuss if an adjustment is required on consolidation for a contingent liability and why? Explain the journal entry line by line at acquisition date, and then if the court case is won by McGraw Ltd.

Reference no: EM132464905

Questions Cloud

Normal distribution of children heights : Based on Figure 5.2, which shows a normal distribution of children's heights with a mean of 60.0 and an SD of 5.0, approximately what is the probability
What percent of the data fall within standard deviations : In any normal distribution, what percent of the data fall within 1.5 standard deviations of the mean?
Evaluate the deficiencies in internal controls : Evaluate the deficiencies in internal controls and corporate governance at Navistar. Do you believe external auditors should be expected to discover fraud
Data indicate that the proportion of men : If the survey was based on a sample size of 200 men, do these data indicate that the proportion of men is the same as the proportion of women
Explain the journal entry line by line at acquisition date : Discuss if an adjustment is required on consolidation for a contingent liability and why? Explain the journal entry line by line at acquisition date
Standard deviation for each asset : How to get Portfolio Standard Deviation (5 Assets) on excel if I have the expected portfolio return, standard deviation for each asset, and correlation matrix
Determine the cumulative effect of the declaration : Determine what is The cumulative effect of the declaration and payment of a cash dividend on a company's financial statements is to
Estimate of the data to be expected : If this is a fair estimate of the data to be expected, how many women must she test in each group to produce a power coefficient of .90 at a=.05?
Prepare a bond amortization schedule : Prepare a bond amortization schedule using the effective-interest method for discount and premium amortization. Amortize premium or discount on interest

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd