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Problem 1: On September 4, 2017, Apple Inc. paid $2,000,000 to acquire all shares of Banana Corp. On this date, Banana Corp.Inc. had assets of $1,500,000 and liabilities of $300,000 listed on its balance sheet. All assets had book valuesapproximating fair values except its office building and manufacturing facility, whose fair values exceeded book valueby $200,000 and $100,000 respectively. How much goodwill is reported on December 31, 2017?
a. $300,000b. $0c. $800,000d. $500,000
Carter Manufacturing Company manufactures exclusive pens which sell for $67 per unit. How many units must Carter sell to earn an after-tax income
Calculate the number of equivalent units for both materials and conversion for the month of May, assuming that the company uses the weighted-average method.
The overhead rate is $17 per unit, 53,000 units were sold, and 52,000 units were produced. For the end of the year, is overhead underapplied or overapplied?
Hepworth company has implemented a JIT system and is considering the use of backflush costing. Hepworth had the following transactions for the current fiscal year.
Use the information to prepare adjusting entries as of December - Prepare the information to prepare adjusting entries as of December 31, 2015.
How much savings in fixed factory overhead per unit was effected assuming that additional output is due to the incentive given?
Hornet Company had operating cash flow of $60,000 during a year in which it paid dividends of $11,000. What does this indicate about Hornet's dividend-paying ability?
MJ's gross profit rate is 45% of sales dollars. What dollar amount of merchandise inventory should MJ plan to purchase in August?
Explain three limitations of the payback method that the management of Smooth Equipment need to be aware of? Calculate the net present value
Labor standard is 25 hours per car at $200 per hour. At September end, $600,000 unfavorable rate variance was computed. Compute actual rate per hour.
If Banc Corp. Trust uses a bankwide rate based on direct labor hours, what would be the indirect costs allocated to the Commercial Department?
The closing work in process inventory consisted of how many liters? What was the full cost of the finished output that passed the quality control check?
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