Find the total of pre-acquisition of current

Assignment Help Accounting Basics
Reference no: EM132864980

Question 1: On the 1 July 2013, Alma Ltd purchased 30% of the shares of Rund Ltd for $ 120000, at this date the equity of Rund Ltd consisted of 180000 share capital and 10000 retained earnings. At this date, all identifiable assets and liabilities of Rund Ltd were recorded at fair value except for inventory which its fair value 50000 and carrying value 40000. And plant that its fair value 100000 and carrying value 80000. If the useful life of plant 4 years and all inventory was sold before 30/6/2014 and tax rate was 30%, on 30/6/2015 the total of pre-acquisition of current (2014-2015) and the total of prior year (2013-2015) are as follows:

Select one:

a. Current year (5000) prior year (15000)
b. Current year (3500) prior year (10500)
c. None of the given choices
d. Current year (10500) prior year (10500)

Reference no: EM132864980

Questions Cloud

Which liverpool will record the debit side as : Share of dividends that is declared by Arsenal. Ltd (associate) was 20000. In order to record the transaction, Liverpool will record the debit side as
Which the pre-acquisition of current year are : If the useful life of plant 4 years and all inventory was sold before 30/6/2014 and tax rate was 30%., the pre-acquisition of current year are as follows:
Find which represent the adjustments made by samer ltd : Find which represent the adjustments made by Samer Ltd regarding this transaction for the profit or loss of current year only (step four) at 30/6/2015.
Find the plant-wide manufacturing overhead rate : Cooper's Bags Company uses machine hours as the cost driver for manufacturing overhead costs. Find the plant-wide manufacturing overhead rate
Find the total of pre-acquisition of current : Tax rate was 30%, on 30/6/2015 the total of pre-acquisition of current (2014-2015) and the total of prior year (2013-2015) are as follows
Which alma will record the entry : If the tax rate was 30% and there is no intracompany transaction. And if the profit on 30/6/2014 was 60000. Alma will record the following entry
Discuss the impact that strategy will have on the company : Discuss the impact that strategy will have on the company's net income and cash flow for the next three year
Which represent the adjustments made by samer ltd : Which represent the adjustments made by Samer Ltd regarding this transaction for the profit or loss of current year only (step four) at 30/6/2014.
How much revenue should Fasten company recognize : Fasten company signed a 1-year contract for $1,200 to provide internet services to a customer. How much revenue should Fasten company recognize

Reviews

Write a Review

Accounting Basics Questions & Answers

  Compute operating income

Compute operating income for April, May and June under variable costing

  What is the purpose of a free cash flow analysis

What is the purpose of a free cash flow analysis?

  Compute the number of scientific calculators and the number

thompson company produces scientific and business calculator thompson expects to sell 200000 scientific calculators and

  Groups would engage in outdoor activities such as rock

tony and suzie are ready to expand great adventures even further in 2013. tony believes that many groups in the

  For each of the following control procedures over cash

for each of the following control procedures over cash disbursements provide an example of how the auditor could test

  Discuss what was the company''s net income after taxes

COG sold was $10,195,400 for the year. Assuming a federal income tax rate of 34%, WHAT was the company's net income after taxes

  What is the present value on january

What is the present value on January 1, 2016, of $10,000 to be received on January 1, 2020, and discounted at 6% compounded quarterly

  Determine what is the taxable capital gain

The land was recognized as capital. The individual wishes to report minimum taxable capital gain allowed each year. What is the taxable capital gain for 2020?

  A proposal is received from an outside contractor who will

davis kitchen supply produces stoves for commercial kitchens. the costs to manufacture and market the stoves at the

  Realizing that providing for a comfortable retirement is up

realizing that providing for a comfortable retirement is up to them ted and lillie commit to make regular contributions

  What is the rationale for the calculations and process

What is the rationale for the calculations/process used to estimate the $180,000 uncollectible allowance? Create new invoice to the customer with a revised data

  Prepare the journal entry to record pension expense

Prepare the journal entry to record pension expense for 2015. Determine the projected benefit obligation at December 31, 2015

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!

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