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Question - On June 30, 2014, Sunlight company purchased the net assets of Bright Company. The acquisition resulted in a purchased goodwill of P1,500,000. During 2014, Sunlight incurred additional costs of developing goodwill: P500,000 for training beam employees, and P250,000 for hiring additional Beam employees. How much should sunlight report as goodwill in its December 31, 2014 statement of financial position?
Madrasah Corporation issued its financial statements for the year ended December 31, 2014, on March 10, 2015. The following events took place early in 2015. On March 1, Madrasah determined after negotiations with the Internal Revenue Service that inc..
On December 31, 2012, Ed Abbey Co. performed environmental consulting services for Hayduke Co. Hayduke was short of cash, and Abbey Co. agreed to accept a $250,300 zero-interest-bearing note due December 31, 2014, as payment in full. Prepare the jour..
In 2013, Ryan Management collected rent revenue for 2014 tenant occupancy. For financial reporting, the rent is recognized as income in the period earned, but for income tax reporting it is taxed when collected. The unearned portion of the rent colle..
Calculating the number of shares in issue and the dividends per share (for the first alternative, i.e. pay the dividend). Equity 240,000 Bank/cash 90,000
Give reasons for each suggestion using the knowledge and insight you have learned through the course while connecting it with company specific information.
calculation of final contract price.a 500000 fixed price economic price adjustment contract contains a provision
Shamrock Exploration Inc. invests $1.30 million, Show how the mine and any related accounts are reported on the December 31, 2017, balance sheet.
On April 17, 2021, the Loadstone Mining Company purchased the rights to a coal mine. Is depletion considered part of the product cost and included in the cost
What is definition of :Strategic Management Department, Projects Management Offices,Financial Department, and please explain what is their resposbilites
Workman-Smith Company's comparative balance sheets included inventory of $120,000 on December 31, 2011, and $110,000 on December 31, 2012. What is the amount of cash payments for inventory that Workman-Smith should report in the operating activities ..
Realtor Ltd leases its property from a related company called RioCom Limited. RioCom is currently being audited. Your audit of the lease indicates that the rental terms are in excess of rental terms for similar buildings in the area. Explain, with re..
Construct an amortization schedule for a $1,000, 3.5% annual rate loan with 3 equal payments. Find the required annual payments
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