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Do you have the Government Wide Statement of Net Assets?
I understand that non-recurring items such as adjustments for changes in accounting methods, extraordinary gains/losses, income from discontinued operations, etc. must not be included. However, what items should I address?
On January 1, 2011 Phoenix Co. acquired 100 percent of the outstanding voting shares of Sedona Inc. for $600,000 cash. At January 1 2011, Sedona's net assets had a total carrying amount of $420,000.
Blue Company sold machinery for $45,000 on December 23, 2010. The machinery had been acquired on April 1, 2008, for $49,000 and its adjusted basis was $14,200. The § 1231 gain, § 1245 recapture gain, and § 1231 loss from this transaction are:
Didde Company issued $400,000 of 8%, 20-year bonds on January 1, 2010 at face value. Interest is payable annually on January 1. Prepare the journal entries to record the following events:
Justify your decision, showing your calculation and overall company's net operating income or loss before and after eliminating Northern Division.
A company with a higher contribution margin ratio is: a) more sensitive to changes in sales revenue. b) less sensitive to changes in sales revenue.
What are the general types of subsequent events that require Green's consideration and evaluation? What are the auditing procedures Green should consider performing to gather evidence concerning subsequent events?
Assume a healthcare company sold bonds that have a ten-year maturity, a 12% coupon rate with annual payments, and a $1,000 par value.
Gross proceeds from the offering amounted to $850,000,000. The discount on the Senior Discount Notes is being accreted under the effective interest method.
Foster Corporation issued a $100,000, 10-year, 10 percent bond on January 1, 2010, for $112,000. Foster uses the straight-line method of amortization. On April 1, 2013, Foster reacquired the bonds for retirement when they were selling at 102 on th..
Under SFAS 52, when the current rate method is used, how are translation adjustments treated in the consolidated financial statements?
She receives real estate with a fair market value of $72,000 and Todd assumes the mortgage. What is her recognized gain and adjusted basis for the real estate received?
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