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Milani, Inc., acquired 10 percent of Seida Corporation on January 1, 2017, for $190,000 and appropriately accounted for the investment using the fair-value method. On January 1, 2018, Milani purchased an additional 30 percent of Seida for $600,000 which resulted in significant influence over Seida. On that date, the fair value of Seida's common stock was $2,000,000 in total. Seida's January 1, 2018, book value equaled $1,850,000, although land was undervalued by $120,000. Any additional excess fair value over Seida's book value was attributable to a trademark with an 8-year remaining life. During 2018, Seida reported income of $300,000 and declared and paid dividends of $110,000.
Question 1: How do Prepare the 2018 journal entries for Milani related to its investment in Seida
Following is the stockholders' equity section of a recent balance sheet for Portlands, Inc.: How many common shares are outstanding as of year-end
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Your company generated 4.7 million revenue in 2013. annual cost/depreciation are as follows: cost of goods sold that year was $800,000; salaries and wages that were paid were $1,000,000; advertising costs were $30,000; depreciation was $50,000; other..
Compute the average cost per serving at each of the following monthly volumes: 1,500; 2,000; 3,000; and 5,000, and find out the monthly volume at which the average cost per serving is $1.00.
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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HP Producers SAC., Has two debts, What will be the face value of this instrument? How much money will you save as a result of this refinancing?
Identify and discuss, based on the findings documented in the internal audit work paper and Describe, solely with reference to the information provided, the matters that will have to be considered by your firm
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