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Richmond Industries acquires 25% of Mondrich Company's common stock for P380,000 cash and carries the investment using the cost method. After three months, Richmond purchases another 60% of Mondrich's common stock for P1,200,000 On this date, the acquired company reports identifiable net assets with carrying value of P 1,440,000 and fair value of P1,840,000. The liabilities of the acquired company has a book value and a fair value of P560,000. The fair value of the 15% non-controlling interest is P250,000.
Question 1. How much is the result of the combination?
Question 2. Refer to original facts and effect this: If the fair value of the previous holdings amounts to P400,000, what is the result of the combination?
What was the closing price on April 14? The financial web sites report the following for April 15 for TPE Corp.: High: 25.10, Low: 24.92
Neveready Flashlights Inc. needs $400,000 to take a cash discount of 2/10, net 60. What is the annual rate on the bank loan
Determine the best financing alternatives. Khana Khazana Restaurant needs $150,000 over the next 180 days to finance an import. The company has $300,000 worth
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Era Company has 3,000 shares of 5%, $100 par non-cumulative preferred stock outstanding at December 31, 2013. No dividends have been paid on this stock for 2012 or 2013.
Preparation of necessary entries for declaration and payment of dividend and Prepare the necessary entries for the declaration and payment of the stock dividend.
Adam bought a $1,670 sound system on a special. If he makes the minimum monthly payment up until the last payment, what will be the amount of his last payment?
Why might an advertising agency use job costing for an advertising campaign by Pepsi, whereas a bank might use process costing to determine the cost of checking account deposits? How are these approaches similar? What importance to these results make..
Calvin owns 40% of the outstanding shares of Copernicus Corp., which has accumulated earnings and profits of $100,000 as of December 31, Year 1. Copernicus distributes cash of $250,000 in redemption of all of Calvin's stock. If Calvin's adjusted basi..
Compute its production cost per unit under absorption costing and compute the contribution margin
How to state whether it should be accounted for as Adjusting OR Non-adjusting in accordance with IAS 10 Events after the Reporting Period.
Joe and Bob both want to create a college fund for their children who each just turned 4 years old today, and will start college right after their 18th birthday. They choose different approaches. Joe decides to set aside semi-annual payments of $7,97..
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